Insider Selling: Eos Energy Enterprises (NASDAQ:EOSE) CFO Sells $371,166.12 in Stock

Eos Energy Enterprises, Inc. (NASDAQ:EOSE) CFO Nathan Kroeker sold 79,309 shares of the company’s stock in a transaction that occurred on Tuesday, July 7th. The shares were sold at an average price of $4.68, for a total value of $371,166.12. Following the completion of the transaction, the chief financial officer directly owned 777,110 shares in the company, valued at approximately $3,636,874.80. The trade was a 9.26% decrease in their ownership of the stock. The sale was disclosed in a 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.

Nathan Kroeker also recently made the following trade(s):

• On Tuesday, June 30th, Nathan Kroeker sold 35,289 shares of Eos Energy Enterprises stock. The stock was sold at an average price of $5.86, for a total transaction of $206,793.54.

Eos Energy Enterprises Trading Up 1.6%

Shares of NASDAQ:EOSE opened at $4.58 on Friday. The firm has a market cap of $1.55 billion, a PE ratio of -0.69 and a beta of 2.68. The company has a fifty day simple moving average of $6.99 and a 200 day simple moving average of $8.90. Eos Energy Enterprises, Inc. has a 12-month low of $4.37 and a 12-month high of $19.86.

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

Hedge Funds Weigh In On Eos Energy Enterprises

Several institutional investors have recently modified their holdings of EOSE. Millennium Management LLC increased its holdings in shares of Eos Energy Enterprises by 55.1% in the 1st quarter. Millennium Management LLC now owns 2,522,273 shares of the company’s stock worth $9,534,000 after acquiring an additional 896,471 shares during the period. Goldman Sachs Group Inc. boosted its stake in Eos Energy Enterprises by 36.8% during the 1st quarter. Goldman Sachs Group Inc. now owns 3,900,513 shares of the company’s stock valued at $14,744,000 after purchasing an additional 1,050,128 shares during the period. Envestnet Asset Management Inc. bought a new position in Eos Energy Enterprises in the 2nd quarter worth about $76,000. JPMorgan Chase & Co. bought a new position in Eos Energy Enterprises in the 2nd quarter worth about $5,958,000. Finally, Prudential Financial Inc. acquired a new stake in shares of Eos Energy Enterprises in the second quarter valued at approximately $144,000. Institutional investors own 54.87% of the company’s stock.

Wall Street Analyst Weigh In

EOSE has been the topic of several research analyst reports. JPMorgan Chase & Co. reduced their price target on shares of Eos Energy Enterprises from $9.00 to $6.00 and set a “neutral” rating on the stock in a research report on Thursday, April 16th. Zacks Research raised Eos Energy Enterprises from a “strong sell” rating to a “hold” rating in a report on Tuesday, April 28th. TD Cowen upped their price objective on Eos Energy Enterprises from $7.00 to $8.00 and gave the company a “hold” rating in a research note on Thursday, May 14th. Wall Street Zen downgraded Eos Energy Enterprises from a “hold” rating to a “sell” rating in a report on Saturday, July 4th. Finally, Weiss Ratings reiterated a “sell (d-)” rating on shares of Eos Energy Enterprises in a research report on Tuesday, April 21st. Two equities research analysts have rated the stock with a Buy rating, seven have assigned a Hold rating and one has assigned a Sell rating to the company’s stock. Based on data from MarketBeat.com, the company currently has an average rating of “Hold” and an average target price of $10.94.

Eos Energy Enterprises Company 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.