Mitsubishi UFJ Asset Management Co. Ltd. Sells 106,588 Shares of Eos Energy Enterprises, Inc. $EOSE

Mitsubishi UFJ Asset Management Co. Ltd. trimmed its holdings in Eos Energy Enterprises, Inc. (NASDAQ:EOSE) by 59.6% in the 2nd quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The firm owned 72,239 shares of the company’s stock after selling 106,588 shares during the quarter. Mitsubishi UFJ Asset Management Co. Ltd.’s holdings in Eos Energy Enterprises were worth $370,000 as of its most recent SEC filing.

Several other institutional investors and hedge funds have also recently modified their holdings of EOSE. Teacher Retirement System of Texas bought a new position in Eos Energy Enterprises during the first quarter valued at approximately $120,000. Bank of New York Mellon Corp raised its holdings in shares of Eos Energy Enterprises by 29.2% during the 1st quarter. Bank of New York Mellon Corp now owns 62,487 shares of the company’s stock worth $236,000 after acquiring an additional 14,113 shares in the last quarter. SBI Securities Co. Ltd. boosted its position in shares of Eos Energy Enterprises by 588.0% during the 1st quarter. SBI Securities Co. Ltd. now owns 10,065 shares of the company’s stock valued at $38,000 after acquiring an additional 8,602 shares during the last quarter. Carmel Capital Partners LLC grew its holdings in shares of Eos Energy Enterprises by 24.5% in the first quarter. Carmel Capital Partners LLC now owns 12,450 shares of the company’s stock valued at $47,000 after purchasing an additional 2,450 shares in the last quarter. Finally, Y Intercept Hong Kong Ltd bought a new stake in Eos Energy Enterprises in the first quarter worth $90,000. Institutional investors own 54.87% of the company’s stock.

Insiders Place Their Bets

In other Eos Energy Enterprises news, CAO Sumeet Puri sold 40,501 shares of the stock in a transaction that occurred on Monday, September 8th. The stock was sold at an average price of $7.11, for a total transaction of $287,962.11. Following the completion of the transaction, the chief accounting officer owned 164,290 shares of the company’s stock, valued at $1,168,101.90. This represents a 19.78% decrease in their ownership of the stock. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available through this hyperlink. Also, Director Marian Walters sold 50,000 shares of the stock in a transaction dated Wednesday, September 3rd. The shares were sold at an average price of $7.90, for a total transaction of $395,000.00. Following the completion of the sale, the director owned 133,794 shares of the company’s stock, valued at $1,056,972.60. This trade represents a 27.20% decrease in their ownership of the stock. The disclosure for this sale is available in the SEC filing. 3.30% of the stock is currently owned by insiders.

Eos Energy Enterprises Price Performance

Shares of NASDAQ EOSE opened at $13.80 on Friday. The stock has a market capitalization of $3.98 billion, a P/E ratio of -1.65 and a beta of 2.32. The business has a fifty day moving average price of $13.18 and a 200 day moving average price of $8.24. Eos Energy Enterprises, Inc. has a 1-year low of $2.06 and a 1-year high of $19.86.

Eos Energy Enterprises (NASDAQ:EOSE) last issued its quarterly earnings results on Wednesday, November 5th. The company reported ($2.77) earnings per share for the quarter, missing the consensus estimate of ($0.31) by ($2.46). The business had revenue of $30.51 million during the quarter, compared to analyst estimates of $39.55 million. Eos Energy Enterprises has set its FY 2025 guidance at EPS. As a group, equities research analysts anticipate that Eos Energy Enterprises, Inc. will post -2.54 earnings per share for the current fiscal year.

Wall Street Analysts Forecast Growth

A number of research analysts recently commented on the stock. Zacks Research downgraded shares of Eos Energy Enterprises from a “hold” rating to a “strong sell” rating in a report on Wednesday, October 29th. Roth Capital set a $12.00 price objective on Eos Energy Enterprises and gave the company a “neutral” rating in a research note on Wednesday, October 22nd. B. Riley lifted their target price on Eos Energy Enterprises from $8.00 to $12.00 and gave the stock a “neutral” rating in a report on Tuesday. TD Cowen increased their price target on Eos Energy Enterprises from $5.50 to $6.00 and gave the company a “hold” rating in a report on Friday, August 1st. Finally, Wall Street Zen downgraded Eos Energy Enterprises from a “hold” rating to a “sell” rating in a research report on Saturday, November 8th. Two analysts have rated the stock with a Buy rating, six have given a Hold rating and two have given a Sell rating to the company. According to MarketBeat, the stock has an average rating of “Hold” and a consensus target price of $11.93.

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.