Empery Asset Management LP Acquires New Position in Eos Energy Enterprises, Inc. $EOSE

Empery Asset Management LP acquired a new stake in shares of Eos Energy Enterprises, Inc. (NASDAQ:EOSE) in the fourth quarter, HoldingsChannel reports. The fund acquired 249,726 shares of the company’s stock, valued at approximately $2,862,000. Eos Energy Enterprises makes up about 2.5% of Empery Asset Management LP’s investment portfolio, making the stock its 9th biggest holding.

A number of other institutional investors have also modified their holdings of EOSE. Millennium Management LLC grew its position in shares of Eos Energy Enterprises by 55.1% during the 1st quarter. Millennium Management LLC now owns 2,522,273 shares of the company’s stock valued at $9,534,000 after buying an additional 896,471 shares during the last quarter. Goldman Sachs Group Inc. grew its position in shares of Eos Energy Enterprises by 36.8% during the 1st quarter. Goldman Sachs Group Inc. now owns 3,900,513 shares of the company’s stock valued at $14,744,000 after buying an additional 1,050,128 shares during the last quarter. Envestnet Asset Management Inc. bought a new stake in shares of Eos Energy Enterprises during the 2nd quarter valued at about $76,000. JPMorgan Chase & Co. bought a new stake in shares of Eos Energy Enterprises during the 2nd quarter valued at about $5,958,000. Finally, Prudential Financial Inc. bought a new stake in shares of Eos Energy Enterprises during the 2nd quarter valued at about $144,000. Institutional investors own 54.87% of the company’s stock.

Insider Buying and Selling at Eos Energy Enterprises

In other news, Director Marian Walters sold 7,681 shares of the company’s stock in a transaction that occurred on Tuesday, May 19th. The shares were sold at an average price of $7.07, for a total value of $54,304.67. Following the completion of the sale, the director directly owned 135,334 shares of the company’s stock, valued at approximately $956,811.38. This represents a 5.37% decrease in their position. The sale was disclosed in a legal filing with the SEC, which is accessible through this link. Corporate insiders own 1.73% of the company’s stock.

Analyst Ratings Changes

A number of brokerages recently weighed in on EOSE. TD Cowen boosted their price objective on shares of Eos Energy Enterprises from $7.00 to $8.00 and gave the company a “hold” rating in a research report on Thursday, May 14th. Zacks Research raised shares of Eos Energy Enterprises from a “strong sell” rating to a “hold” rating in a research report on Tuesday, April 28th. Weiss Ratings reaffirmed a “sell (d-)” rating on shares of Eos Energy Enterprises in a research report on Tuesday, April 21st. Guggenheim reaffirmed a “neutral” rating and set a $20.00 price objective on shares of Eos Energy Enterprises in a research report on Friday, February 27th. Finally, JPMorgan Chase & Co. decreased their target price on shares of Eos Energy Enterprises from $9.00 to $6.00 and set a “neutral” rating for the company in a research report on Thursday, April 16th. Two equities research analysts have rated the stock with a Buy rating, seven have given a Hold rating and one has assigned a Sell rating to the company’s stock. According to MarketBeat.com, the stock has a consensus rating of “Hold” and a consensus price target of $10.94.

Eos Energy Enterprises Trading Down 3.0%

Shares of NASDAQ:EOSE opened at $6.07 on Thursday. The company has a 50 day moving average of $7.03 and a 200-day moving average of $10.08. The firm has a market cap of $2.06 billion, a P/E ratio of -0.91 and a beta of 2.62. Eos Energy Enterprises, Inc. has a twelve month low of $3.88 and a twelve month high of $19.86.

Eos Energy Enterprises (NASDAQ:EOSE) last issued its quarterly 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 company had revenue of $56.96 million during the quarter, compared to analyst estimates of $54.32 million. Equities research analysts forecast that Eos Energy Enterprises, Inc. will post -0.31 EPS for the current year.

Eos Energy Enterprises 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.