Eos Energy Enterprises, Inc. (NASDAQ:EOSE) CEO Joe Mastrangelo Sells 270,384 Shares

Eos Energy Enterprises, Inc. (NASDAQ:EOSE) CEO Joe Mastrangelo sold 270,384 shares of Eos Energy Enterprises stock in a transaction dated Friday, May 16th. The shares were sold at an average price of $6.86, for a total transaction of $1,854,834.24. Following the completion of the sale, the chief executive officer now directly owns 1,109,409 shares in the company, valued at approximately $7,610,545.74. The trade was a 19.60% decrease in their position. The sale was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this link.

Eos Energy Enterprises Trading Down 1.8%

Shares of EOSE opened at $6.98 on Monday. The stock has a market cap of $1.58 billion, a P/E ratio of -2.90 and a beta of 2.11. The company has a 50-day moving average of $4.75 and a two-hundred day moving average of $4.43. Eos Energy Enterprises, Inc. has a 12-month low of $0.66 and a 12-month high of $7.36.

Eos Energy Enterprises (NASDAQ:EOSE) last announced its earnings results on Tuesday, May 6th. The company reported ($0.20) earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of ($0.19) by ($0.01). The business had revenue of $10.46 million for the quarter, compared to the consensus estimate of $11.77 million. As a group, analysts forecast that Eos Energy Enterprises, Inc. will post -2.54 EPS for the current fiscal year.

Analysts Set New Price Targets

EOSE has been the subject of several recent analyst reports. Cowen reiterated a “hold” rating on shares of Eos Energy Enterprises in a research note on Friday, March 7th. Roth Capital cut shares of Eos Energy Enterprises from a “strong-buy” rating to a “hold” rating in a research note on Thursday, February 20th. Guggenheim reiterated a “buy” rating and issued a $7.00 price objective on shares of Eos Energy Enterprises in a research note on Tuesday, March 18th. Finally, Roth Mkm cut shares of Eos Energy Enterprises from a “buy” rating to a “neutral” rating and raised their price objective for the company from $4.00 to $5.00 in a research note on Thursday, February 20th. Four research analysts have rated the stock with a hold rating and two have issued a buy rating to the company’s stock. According to data from MarketBeat, the stock currently has an average rating of “Hold” and a consensus price target of $6.00.

Hedge Funds Weigh In On Eos Energy Enterprises

A number of hedge funds and other institutional investors have recently added to or reduced their stakes in EOSE. Lake Street Private Wealth LLC acquired a new position in Eos Energy Enterprises during the fourth quarter worth about $51,000. Harel Insurance Investments & Financial Services Ltd. acquired a new position in Eos Energy Enterprises during the fourth quarter worth about $58,000. Flagship Private Wealth LLC raised its position in Eos Energy Enterprises by 68.7% during the fourth quarter. Flagship Private Wealth LLC now owns 55,291 shares of the company’s stock worth $269,000 after acquiring an additional 22,525 shares during the last quarter. R Squared Ltd acquired a new position in Eos Energy Enterprises during the fourth quarter worth about $31,000. Finally, Stephens Inc. AR acquired a new position in Eos Energy Enterprises during the fourth quarter worth about $64,000. Institutional investors and hedge funds own 54.87% of the company’s stock.

About Eos Energy Enterprises

Eos Energy Enterprises, Inc designs, manufactures, and markets zinc-based energy storage solutions for utility-scale, microgrid, and commercial and industrial (C&I) applications in the United States. The company offers Znyth technology battery energy storage system (BESS), which provides the operating flexibility to manage increased grid complexity and price volatility.