Eos Energy Enterprises (NASDAQ:EOSE) CFO Nathan Kroeker Sells 50,000 Shares

Eos Energy Enterprises, Inc. (NASDAQ:EOSE) CFO Nathan Kroeker sold 50,000 shares of the business’s stock in a transaction on Monday, January 26th. The stock was sold at an average price of $16.04, for a total transaction of $802,000.00. Following the completion of the sale, the chief financial officer owned 662,512 shares of the company’s stock, valued at $10,626,692.48. The trade was a 7.02% decrease in their ownership of the stock. The sale was disclosed in a legal filing with the SEC, which is available through the SEC website.

Eos Energy Enterprises Price Performance

NASDAQ:EOSE traded down $0.92 during midday trading on Monday, reaching $16.19. The stock had a trading volume of 21,155,348 shares, compared to its average volume of 22,468,016. The stock has a market capitalization of $4.67 billion, a P/E ratio of -1.94 and a beta of 2.11. Eos Energy Enterprises, Inc. has a 1-year low of $3.07 and a 1-year high of $19.86. The firm’s fifty day simple moving average is $14.17 and its 200-day simple moving average is $11.47.

Eos Energy Enterprises (NASDAQ:EOSE) last released its quarterly earnings results on Wednesday, November 5th. The company reported ($2.77) earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of ($0.31) by ($2.46). The business had revenue of $30.51 million for the quarter, compared to the consensus estimate of $39.55 million. On average, equities research analysts anticipate that Eos Energy Enterprises, Inc. will post -2.54 earnings per share for the current fiscal year.

Institutional Inflows and Outflows

Several hedge funds and other institutional investors have recently bought and sold shares of the company. Fiduciary Planning LLC acquired a new stake in shares of Eos Energy Enterprises during the 2nd quarter valued at about $236,000. Concurrent Investment Advisors LLC acquired a new position in Eos Energy Enterprises in the second quarter worth about $548,000. Hsbc Holdings PLC lifted its stake in Eos Energy Enterprises by 192.9% during the second quarter. Hsbc Holdings PLC now owns 129,626 shares of the company’s stock worth $665,000 after purchasing an additional 85,371 shares during the period. VIRGINIA RETIREMENT SYSTEMS ET Al acquired a new stake in Eos Energy Enterprises during the second quarter valued at approximately $257,000. Finally, Copperleaf Capital LLC acquired a new stake in Eos Energy Enterprises during the second quarter valued at approximately $1,639,000. 54.87% of the stock is owned by institutional investors.

Wall Street Analyst Weigh In

Several brokerages have commented on EOSE. Roth Mkm set a $12.00 price target on Eos Energy Enterprises and gave the stock a “neutral” rating in a research report on Wednesday, October 22nd. JPMorgan Chase & Co. began coverage on shares of Eos Energy Enterprises in a research report on Wednesday, December 17th. They set a “neutral” rating and a $16.00 target price on the stock. B. Riley increased their price target on shares of Eos Energy Enterprises from $8.00 to $12.00 and gave the company a “neutral” rating in a report on Tuesday, November 11th. Weiss Ratings restated a “sell (d-)” rating on shares of Eos Energy Enterprises in a research report on Thursday. Finally, Zacks Research upgraded shares of Eos Energy Enterprises from a “strong sell” rating to a “hold” rating in a report on Monday, January 12th. Two equities research analysts have rated the stock with a Buy rating, six have issued a Hold rating and one has assigned a Sell rating to the company’s stock. According to MarketBeat.com, the company presently has an average rating of “Hold” and a consensus price target of $13.50.

About Eos Energy Enterprises

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.