Elevatus Welath Management Buys Shares of 10,248 Eos Energy Enterprises, Inc. (NASDAQ:EOSE)

Elevatus Welath Management bought a new stake in shares of Eos Energy Enterprises, Inc. (NASDAQ:EOSE) during the 1st quarter, according to its most recent filing with the Securities and Exchange Commission. The firm bought 10,248 shares of the company’s stock, valued at approximately $39,000.

Other institutional investors have also added to or reduced their stakes in the company. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. purchased a new position in shares of Eos Energy Enterprises in the 4th quarter worth $16,632,000. Alyeska Investment Group L.P. raised its holdings in Eos Energy Enterprises by 714.3% in the 4th 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. American Financial Group Inc. raised its holdings in Eos Energy Enterprises by 174.0% in the 1st quarter. American Financial Group Inc. now owns 1,861,930 shares of the company’s stock worth $7,038,000 after purchasing an additional 1,182,310 shares during the period. Marshall Wace LLP raised its holdings in Eos Energy Enterprises by 154.6% in the 4th quarter. Marshall Wace LLP now owns 893,818 shares of the company’s stock worth $4,344,000 after purchasing an additional 542,718 shares during the period. Finally, UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC bought a new position in Eos Energy Enterprises in the 4th quarter worth $1,581,000. 54.87% of the stock is currently owned by hedge funds and other institutional investors.

Eos Energy Enterprises Trading Down 7.4%

Shares of EOSE stock opened at $5.86 on Friday. Eos Energy Enterprises, Inc. has a 12-month low of $1.82 and a 12-month high of $7.36. The stock’s 50-day moving average price is $5.28 and its 200-day moving average price is $4.99. The stock has a market capitalization of $1.52 billion, a price-to-earnings ratio of -1.12 and a beta of 2.07.

Eos Energy Enterprises (NASDAQ:EOSE) last announced its earnings results on Wednesday, July 30th. The company reported ($1.05) earnings per share (EPS) for the quarter, missing the consensus estimate of ($0.17) by ($0.88). The business had revenue of $15.24 million during the quarter, compared to analyst estimates of $24.96 million. As a group, research analysts predict that Eos Energy Enterprises, Inc. will post -2.54 EPS for the current fiscal year.

Insider Buying and Selling

In other news, CAO Sumeet Puri sold 17,500 shares of the company’s stock in a transaction on Tuesday, July 29th. The stock was sold at an average price of $5.94, for a total transaction of $103,950.00. Following the transaction, the chief accounting officer directly owned 136,457 shares of the company’s stock, valued at approximately $810,554.58. This represents a 11.37% decrease in their ownership of the stock. The sale was disclosed in a document filed with the SEC, which is accessible through this hyperlink. Also, CEO Joe Mastrangelo sold 166,667 shares of the company’s stock in a transaction on Tuesday, July 29th. The shares were sold at an average price of $5.94, for a total value of $990,001.98. Following the completion of the transaction, the chief executive officer directly owned 1,403,226 shares in the company, valued at approximately $8,335,162.44. The trade was a 10.62% decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders have sold a total of 592,697 shares of company stock valued at $3,327,816 over the last ninety days. Company insiders own 3.63% of the company’s stock.

Wall Street Analyst Weigh In

EOSE has been the topic of a number of recent research reports. Wall Street Zen cut Eos Energy Enterprises from a “hold” rating to a “sell” rating in a report on Sunday, August 3rd. Stifel Nicolaus decreased their target price on Eos Energy Enterprises from $9.00 to $8.50 and set a “buy” rating on the stock in a report on Monday, June 9th. TD Cowen raised their target price on Eos Energy Enterprises from $5.50 to $6.00 and gave the stock a “hold” rating in a report on Friday, August 1st. Finally, Guggenheim decreased their price target on Eos Energy Enterprises from $7.00 to $6.00 and set a “buy” rating on the stock in a report on Monday, June 2nd. One research analyst has rated the stock with a sell rating, four have assigned a hold rating and two have assigned a buy rating to the stock. Based on data from MarketBeat.com, the company currently has an average rating of “Hold” and a consensus price target of $6.38.

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.