OMERS ADMINISTRATION Corp Acquires Shares of 112,300 Eos Energy Enterprises, Inc. (NASDAQ:EOSE)

OMERS ADMINISTRATION Corp bought a new position in Eos Energy Enterprises, Inc. (NASDAQ:EOSE) in the fourth quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The institutional investor bought 112,300 shares of the company’s stock, valued at approximately $546,000.

Several other hedge funds and other institutional investors have also modified their holdings of the stock. Arizona State Retirement System acquired a new position in Eos Energy Enterprises during the fourth quarter worth $305,000. FourThought Financial Partners LLC bought a new stake in shares of Eos Energy Enterprises in the 4th quarter worth about $1,335,000. Raymond James Financial Inc. acquired a new stake in shares of Eos Energy Enterprises during the 4th quarter worth about $315,000. Swiss National Bank bought a new position in Eos Energy Enterprises during the 4th quarter valued at about $2,071,000. Finally, Barings LLC lifted its holdings in Eos Energy Enterprises by 100.5% during the 4th quarter. Barings LLC now owns 2,403,448 shares of the company’s stock valued at $11,681,000 after purchasing an additional 1,204,430 shares during the last quarter. Institutional investors own 54.87% of the company’s stock.

Insider Activity

In other Eos Energy Enterprises news, CEO Joe Mastrangelo sold 270,384 shares of the business’s stock in a transaction dated Friday, May 16th. The stock was 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 of the company’s stock, valued at approximately $7,610,545.74. The trade was a 19.60% decrease in their position. The sale was disclosed in a document filed with the SEC, which can be accessed through the SEC website. Also, CAO Sumeet Puri sold 36,173 shares of the company’s stock in a transaction dated Friday, May 16th. The shares were sold at an average price of $6.86, for a total transaction of $248,146.78. Following the transaction, the chief accounting officer now owns 95,624 shares in the company, valued at approximately $655,980.64. The trade was a 27.45% decrease in their ownership of the stock. The disclosure for this sale can be found here. In the last ninety days, insiders sold 560,356 shares of company stock valued at $3,844,042. Company insiders own 3.63% of the company’s stock.

Eos Energy Enterprises Trading Down 1.8%

Shares of EOSE stock opened at $6.98 on Monday. Eos Energy Enterprises, Inc. has a 1 year low of $0.66 and a 1 year high of $7.36. The firm’s 50 day moving average is $4.75 and its 200-day moving average is $4.43. The firm has a market capitalization of $1.58 billion, a price-to-earnings ratio of -2.90 and a beta of 2.11.

Eos Energy Enterprises (NASDAQ:EOSE) last posted its quarterly earnings data on Tuesday, May 6th. The company reported ($0.20) earnings per share for the quarter, missing the consensus estimate of ($0.19) by ($0.01). The company had revenue of $10.46 million for the quarter, compared to analysts’ expectations of $11.77 million. On average, equities research analysts forecast that Eos Energy Enterprises, Inc. will post -2.54 earnings per share for the current fiscal year.

Analyst Ratings Changes

Several analysts have recently weighed in on EOSE shares. Roth Mkm lowered shares of Eos Energy Enterprises from a “buy” rating to a “neutral” rating and raised their price objective for the stock from $4.00 to $5.00 in a report on Thursday, February 20th. Guggenheim restated a “buy” rating and set a $7.00 price target on shares of Eos Energy Enterprises in a research report on Tuesday, March 18th. Roth Capital downgraded Eos Energy Enterprises from a “strong-buy” rating to a “hold” rating in a research report on Thursday, February 20th. Finally, Cowen reissued a “hold” rating on shares of Eos Energy Enterprises in a research note on Friday, March 7th. Four research analysts have rated the stock with a hold rating and two have given a buy rating to the company’s stock. Based on data from MarketBeat.com, Eos Energy Enterprises has an average rating of “Hold” and a consensus price target of $6.00.

Eos Energy Enterprises Company Profile

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.