Insider Selling: Eos Energy Enterprises, Inc. (NASDAQ:EOSE) General Counsel Sells 100,943 Shares of Stock

Eos Energy Enterprises, Inc. (NASDAQ:EOSE) General Counsel Michael W. Silberman sold 100,943 shares of the stock in a transaction that occurred on Friday, May 16th. The shares were sold at an average price of $6.86, for a total value of $692,468.98. Following the transaction, the general counsel now owns 161,404 shares of the company’s stock, valued at $1,107,231.44. This represents a 38.48% decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the SEC, which is available at this link.

Eos Energy Enterprises Stock Down 1.8%

Shares of EOSE opened at $6.98 on Monday. The company has a market cap of $1.58 billion, a PE ratio of -2.90 and a beta of 2.11. The business has a fifty day moving average of $4.75 and a 200 day moving average of $4.43. Eos Energy Enterprises, Inc. has a 52-week low of $0.66 and a 52-week high of $7.36.

Eos Energy Enterprises (NASDAQ:EOSE) last issued its quarterly 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 company had revenue of $10.46 million during the quarter, compared to the consensus estimate of $11.77 million. As a group, research analysts anticipate that Eos Energy Enterprises, Inc. will post -2.54 earnings per share for the current fiscal year.

Institutional Trading of Eos Energy Enterprises

A number of institutional investors have recently bought and sold shares of EOSE. Legal & General Group Plc lifted its position in Eos Energy Enterprises by 61,220.5% in the fourth quarter. Legal & General Group Plc now owns 4,804,461 shares of the company’s stock worth $23,350,000 after buying an additional 4,796,626 shares during the last quarter. Driehaus Capital Management LLC purchased a new stake in Eos Energy Enterprises in the first quarter worth $13,456,000. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. purchased a new stake in Eos Energy Enterprises in the fourth quarter worth $16,632,000. Alyeska Investment Group L.P. increased its stake in Eos Energy Enterprises by 714.3% in the fourth quarter. Alyeska Investment Group L.P. now owns 1,628,500 shares of the company’s stock worth $7,915,000 after purchasing an additional 1,428,500 shares during the period. Finally, Barings LLC increased its stake in Eos Energy Enterprises by 100.5% in the fourth quarter. Barings LLC now owns 2,403,448 shares of the company’s stock worth $11,681,000 after purchasing an additional 1,204,430 shares during the period. 54.87% of the stock is currently owned by institutional investors.

Wall Street Analysts Forecast Growth

A number of research analysts have recently commented on EOSE shares. Guggenheim reiterated a “buy” rating and set a $7.00 target price on shares of Eos Energy Enterprises in a research report on Tuesday, March 18th. Roth Mkm downgraded Eos Energy Enterprises from a “buy” rating to a “neutral” rating and increased their target price for the company from $4.00 to $5.00 in a research report on Thursday, February 20th. Cowen reiterated a “hold” rating on shares of Eos Energy Enterprises in a research report on Friday, March 7th. Finally, Roth Capital downgraded Eos Energy Enterprises from a “strong-buy” rating to a “hold” rating in a research report 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 MarketBeat.com, Eos Energy Enterprises currently has a consensus rating of “Hold” and an average target price of $6.00.

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.