Private Advisor Group LLC Trims Stock Holdings in Eos Energy Enterprises, Inc. $EOSE

Private Advisor Group LLC lowered its position in Eos Energy Enterprises, Inc. (NASDAQ:EOSE) by 78.4% in the first quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission. The fund owned 89,064 shares of the company’s stock after selling 322,786 shares during the quarter. Private Advisor Group LLC’s holdings in Eos Energy Enterprises were worth $442,000 as of its most recent filing with the Securities and Exchange Commission.

Several other large investors have also modified their holdings of EOSE. State of New Jersey Common Pension Fund D purchased a new position in Eos Energy Enterprises during the 4th quarter worth $1,834,000. Baker Avenue Asset Management LP acquired a new position in Eos Energy Enterprises in the fourth quarter valued at $11,542,000. Vanguard Group Inc. raised its holdings in shares of Eos Energy Enterprises by 19.8% in the fourth quarter. Vanguard Group Inc. now owns 18,616,874 shares of the company’s stock valued at $213,349,000 after buying an additional 3,080,012 shares during the last quarter. Park Avenue Securities LLC purchased a new stake in shares of Eos Energy Enterprises in the fourth quarter valued at about $4,307,000. Finally, Vaughan Nelson Investment Management L.P. acquired a new stake in shares of Eos Energy Enterprises during the fourth quarter worth about $22,330,000. 54.87% of the stock is owned by institutional investors and hedge funds.

Analysts Set New Price Targets

EOSE has been the topic of a number of research reports. Needham & Company LLC began coverage on Eos Energy Enterprises in a report on Friday, May 22nd. They set a “buy” rating and a $11.00 price target on the stock. Stifel Nicolaus reduced their price objective on Eos Energy Enterprises from $12.00 to $10.00 and set a “buy” rating for the company in a research note on Monday. Truist Financial initiated coverage on Eos Energy Enterprises in a research report on Monday. They set a “buy” rating and a $7.00 price objective for the company. Weiss Ratings reiterated a “sell (d-)” rating on shares of Eos Energy Enterprises in a research note on Tuesday, April 21st. Finally, TD Cowen boosted their target price on Eos Energy Enterprises from $7.00 to $8.00 and gave the company a “hold” rating in a report on Thursday, May 14th. One research analyst has rated the stock with a Strong Buy rating, two have assigned a Buy rating, seven have assigned a Hold rating and one has given a Sell rating to the company. According to data from MarketBeat.com, the company presently has an average rating of “Hold” and an average price target of $9.17.

Eos Energy Enterprises Stock Performance

NASDAQ:EOSE opened at $3.96 on Friday. Eos Energy Enterprises, Inc. has a 1 year low of $3.90 and a 1 year high of $19.86. The stock has a fifty day moving average price of $6.77 and a two-hundred day moving average price of $8.63. The stock has a market capitalization of $1.34 billion, a price-to-earnings ratio of -0.59 and a beta of 2.68.

Eos Energy Enterprises (NASDAQ:EOSE) last issued its earnings results on Wednesday, May 13th. The company reported $0.12 EPS for the quarter, topping the consensus estimate of ($0.22) by $0.34. The company had revenue of $56.96 million for the quarter, compared to analysts’ expectations of $54.32 million. On average, analysts predict that Eos Energy Enterprises, Inc. will post -0.31 EPS for the current year.

Key Stories Impacting Eos Energy Enterprises

Here are the key news stories impacting Eos Energy Enterprises this week:

• Positive Sentiment: Record preliminary Q2 revenue and a rising backlog suggest accelerating demand and better revenue visibility. Article Title
• Positive Sentiment: The Pentagon-related Golden Dome contract could strengthen Eos’ credibility in defense and government markets. Article Title
• Positive Sentiment: Truist reportedly upgraded the stock to “strong-buy,” adding to bullish sentiment. Article Title
• Neutral Sentiment: Analysts and market commentary remain mixed, with some arguing the shares are undervalued on contract wins while others say the stock still looks overvalued despite the decline. Article Title Article Title
• Negative Sentiment: Despite strong revenue growth, Eos still expects a large gross margin loss in Q2, which keeps profitability concerns front and center. Article Title

Insider Transactions at Eos Energy Enterprises

In other Eos Energy Enterprises news, CFO Nathan Kroeker sold 79,309 shares of the company’s stock in a transaction dated Tuesday, July 7th. The shares were sold at an average price of $4.68, for a total transaction of $371,166.12. Following the transaction, the chief financial officer directly owned 777,110 shares in the company, valued at approximately $3,636,874.80. This represents a 9.26% decrease in their ownership of the stock. The sale was disclosed in a filing with the SEC, which can be accessed through this link. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. The sale was made to cover tax withholding obligations related to the vesting of equity awards. Also, insider Michael W. Silberman sold 14,998 shares of the stock in a transaction dated Tuesday, June 30th. The shares were sold at an average price of $5.87, for a total transaction of $88,038.26. Following the completion of the transaction, the insider directly owned 298,277 shares of the company’s stock, valued at approximately $1,750,885.99. This trade represents a 4.79% decrease in their ownership of the stock. Additional details regarding this sale are available in the official SEC disclosure. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. The sale was made to cover tax withholding obligations related to the vesting of equity awards. Over the last three months, insiders have sold 157,569 shares of company stock valued at $839,328. 1.73% of the stock is owned by company insiders.

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.