Eos Energy Enterprises (NASDAQ:EOSE) CFO Sells 35,289 Shares of Stock

Eos Energy Enterprises, Inc. (NASDAQ:EOSE) CFO Nathan Kroeker sold 35,289 shares of the stock in a transaction on Tuesday, June 30th. The shares were sold at an average price of $5.86, for a total transaction of $206,793.54. Following the transaction, the chief financial officer owned 697,801 shares of the company’s stock, valued at $4,089,113.86. This trade represents a 4.81% decrease in their position. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available 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.

Eos Energy Enterprises Price Performance

Shares of Eos Energy Enterprises stock traded down $0.20 during trading hours on Tuesday, reaching $5.89. The company’s stock had a trading volume of 33,894,379 shares, compared to its average volume of 25,161,453. The firm has a 50 day moving average price of $7.32 and a 200-day moving average price of $9.40. Eos Energy Enterprises, Inc. has a one year low of $4.37 and a one year high of $19.86. The stock has a market cap of $2.00 billion, a P/E ratio of -0.88 and a beta of 2.62.

Eos Energy Enterprises (NASDAQ:EOSE) last announced its earnings results on Wednesday, May 13th. The company reported $0.12 earnings per share (EPS) for the quarter, beating the consensus estimate of ($0.22) by $0.34. The business had revenue of $56.96 million for the quarter, compared to analysts’ expectations of $54.32 million. As a group, sell-side analysts forecast that Eos Energy Enterprises, Inc. will post -0.31 EPS for the current fiscal year.

Wall Street Analysts Forecast Growth

Several equities research analysts have recently issued reports on the company. Zacks Research raised Eos Energy Enterprises from a “strong sell” rating to a “hold” rating in a research note on Tuesday, April 28th. Weiss Ratings reissued a “sell (d-)” rating on shares of Eos Energy Enterprises in a research report on Tuesday, April 21st. Wall Street Zen upgraded Eos Energy Enterprises from a “sell” rating to a “hold” rating in a report on Sunday, June 21st. Needham & Company LLC assumed coverage on Eos Energy Enterprises in a research report on Friday, May 22nd. They issued a “buy” rating and a $11.00 price target for the company. Finally, TD Cowen lifted their price objective on shares of Eos Energy Enterprises from $7.00 to $8.00 and gave the stock a “hold” rating in a research note on Thursday, May 14th. Two analysts have rated the stock with a Buy rating, seven have given a Hold rating and one has given a Sell rating to the company’s stock. According to data from MarketBeat.com, the stock presently has an average rating of “Hold” and a consensus target price of $10.94.

Institutional Inflows and Outflows

Large investors have recently modified their holdings of the business. PNC Financial Services Group Inc. raised its holdings in shares of Eos Energy Enterprises by 3,843.8% in the fourth quarter. PNC Financial Services Group Inc. now owns 2,524 shares of the company’s stock worth $29,000 after buying an additional 2,460 shares during the period. Towarzystwo Funduszy Inwestycyjnych PZU SA lifted its stake in shares of Eos Energy Enterprises by 58.8% during the 4th quarter. Towarzystwo Funduszy Inwestycyjnych PZU SA now owns 2,700 shares of the company’s stock worth $31,000 after acquiring an additional 1,000 shares during the last quarter. Danske Bank A S purchased a new position in Eos Energy Enterprises during the 4th quarter valued at $33,000. TD Waterhouse Canada Inc. grew its position in Eos Energy Enterprises by 178.7% in the 4th quarter. TD Waterhouse Canada Inc. now owns 3,119 shares of the company’s stock valued at $36,000 after acquiring an additional 2,000 shares during the last quarter. Finally, GAMMA Investing LLC grew its position in Eos Energy Enterprises by 46.4% in the 4th quarter. GAMMA Investing LLC now owns 3,270 shares of the company’s stock valued at $37,000 after acquiring an additional 1,036 shares during the last quarter. Hedge funds and other institutional investors own 54.87% of the company’s stock.

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.