Eos Energy Enterprises (NASDAQ:EOSE) Director Marian Walters Sells 7,681 Shares

Eos Energy Enterprises, Inc. (NASDAQ:EOSE) Director Marian Walters sold 7,681 shares of the business’s stock in a transaction that occurred on Tuesday, May 19th. The stock was sold at an average price of $7.07, for a total value of $54,304.67. Following the transaction, the director directly owned 135,334 shares in the company, valued at $956,811.38. The trade was a 5.37% decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the SEC, which can be accessed through this hyperlink.

Eos Energy Enterprises Trading Down 7.4%

EOSE stock opened at $6.88 on Wednesday. The firm has a market capitalization of $2.34 billion, a PE ratio of -1.03 and a beta of 2.56. Eos Energy Enterprises, Inc. has a 1-year low of $3.69 and a 1-year high of $19.86. The business’s 50 day simple moving average is $6.25 and its 200 day simple moving average is $10.91.

Eos Energy Enterprises (NASDAQ:EOSE) last posted its earnings results on Wednesday, May 13th. The company reported $0.12 earnings per share for the quarter, topping analysts’ consensus estimates of ($0.22) by $0.34. The business had revenue of $56.96 million for the quarter, compared to analyst estimates of $54.32 million. As a group, sell-side analysts predict that Eos Energy Enterprises, Inc. will post -0.8 EPS for the current fiscal year.

Analysts Set New Price Targets

A number of research analysts have commented on the company. JPMorgan Chase & Co. decreased their price objective on Eos Energy Enterprises from $9.00 to $6.00 and set a “neutral” rating on the stock in a report on Thursday, April 16th. Roth Mkm dropped their target price on Eos Energy Enterprises from $12.00 to $6.00 and set a “neutral” rating for the company in a report on Friday, February 27th. Weiss Ratings reissued a “sell (d-)” rating on shares of Eos Energy Enterprises in a research report on Tuesday, April 21st. B. Riley Financial decreased their price target on shares of Eos Energy Enterprises from $12.00 to $8.00 and set a “neutral” rating on the stock in a research note on Thursday, March 5th. Finally, TD Cowen upped their price target on shares of Eos Energy Enterprises from $7.00 to $8.00 and gave the company a “hold” rating in a research note on Thursday, May 14th. One research analyst has rated the stock with a Buy rating, seven have given a Hold rating and one has assigned a Sell rating to the company. Based on data from MarketBeat.com, the company presently has a consensus rating of “Hold” and a consensus target price of $10.93.

Institutional Trading of Eos Energy Enterprises

Several large investors have recently modified their holdings of EOSE. Rubric Capital Management LP acquired a new stake in shares of Eos Energy Enterprises during the 3rd quarter worth $117,317,000. Vanguard Group Inc. grew its holdings in shares of Eos Energy Enterprises by 19.8% during the 4th quarter. Vanguard Group Inc. now owns 18,616,874 shares of the company’s stock worth $213,349,000 after purchasing an additional 3,080,012 shares in the last quarter. Engineers Gate Manager LP acquired a new stake in shares of Eos Energy Enterprises during the 2nd quarter worth $11,840,000. Vaughan Nelson Investment Management L.P. acquired a new stake in shares of Eos Energy Enterprises during the 4th quarter worth $22,330,000. Finally, Renaissance Technologies LLC acquired a new stake in shares of Eos Energy Enterprises during the 1st quarter worth $9,152,000. 54.87% of the stock is owned by institutional investors and hedge funds.

Eos Energy Enterprises Company Profile

Eos Energy Enterprises specializes in the development and deployment of scalable, long-duration energy storage systems designed to support the integration of renewable power and enhance grid reliability. The company’s core technology centers on its proprietary zinc hybrid cathode (Znyth™) battery platform, which aims to deliver safe, low-cost, and durable performance for utility, commercial and industrial, and microgrid applications.

The company’s flagship product, the Aurora™ energy storage system, combines its Znyth™ cells with modular power conversion and controls to offer flexible capacity ranging from one to three hours of discharge duration.