Eos Energy Enterprises (NASDAQ:EOSE) CEO Purchases $345,000.00 in Stock

Eos Energy Enterprises, Inc. (NASDAQ:EOSE) CEO Joe Mastrangelo acquired 60,000 shares of the company’s stock in a transaction on Monday, March 2nd. The stock was acquired at an average price of $5.75 per share, for a total transaction of $345,000.00. Following the completion of the purchase, the chief executive officer owned 1,463,226 shares of the company’s stock, valued at $8,413,549.50. This trade represents a 4.28% increase in their position. The purchase was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through this hyperlink.

Eos Energy Enterprises Trading Up 1.3%

Shares of EOSE traded up $0.08 during mid-day trading on Tuesday, hitting $5.98. 7,538,909 shares of the company’s stock were exchanged, compared to its average volume of 24,949,029. Eos Energy Enterprises, Inc. has a fifty-two week low of $3.07 and a fifty-two week high of $19.86. The business’s 50 day moving average is $13.19 and its two-hundred day moving average is $12.57. The firm has a market capitalization of $1.72 billion, a P/E ratio of -0.85 and a beta of 2.13.

Eos Energy Enterprises (NASDAQ:EOSE) last posted its quarterly earnings data on Thursday, February 26th. The company reported ($0.84) EPS for the quarter, missing the consensus estimate of ($0.20) by ($0.64). The business had revenue of $58.00 million during the quarter, compared to analysts’ expectations of $93.36 million. On average, equities research analysts forecast that Eos Energy Enterprises, Inc. will post -2.54 earnings per share for the current year.

Wall Street Analyst Weigh In

Several equities analysts have issued reports on the stock. Roth Mkm dropped their price objective on shares of Eos Energy Enterprises from $12.00 to $6.00 and set a “neutral” rating on the stock in a research note on Friday. Weiss Ratings reaffirmed a “sell (d-)” rating on shares of Eos Energy Enterprises in a report on Thursday, January 22nd. Guggenheim reissued a “neutral” rating and set a $20.00 price target on shares of Eos Energy Enterprises in a report on Friday. Zacks Research upgraded shares of Eos Energy Enterprises from a “strong sell” rating to a “hold” rating in a research report on Monday, January 12th. Finally, JPMorgan Chase & Co. assumed coverage on Eos Energy Enterprises in a report on Wednesday, December 17th. They issued a “neutral” rating and a $16.00 price objective on the stock. One analyst has rated the stock with a Buy rating, seven have issued a Hold rating and one has given a Sell rating to the stock. Based on data from MarketBeat, the company presently has an average rating of “Hold” and an average price target of $12.64.

Hedge Funds Weigh In On Eos Energy Enterprises

Hedge funds have recently bought and sold shares of the stock. PNC Financial Services Group Inc. increased its position in Eos Energy Enterprises by 3,843.8% during the 4th quarter. PNC Financial Services Group Inc. now owns 2,524 shares of the company’s stock worth $29,000 after purchasing an additional 2,460 shares in the last quarter. Chung Wu Investment Group LLC purchased a new position in Eos Energy Enterprises in the 3rd quarter valued at about $30,000. Towarzystwo Funduszy Inwestycyjnych PZU SA boosted 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 purchasing an additional 1,000 shares during the last quarter. Danske Bank A S acquired a new stake in shares of Eos Energy Enterprises during the 4th quarter worth about $33,000. Finally, TD Waterhouse Canada Inc. grew its holdings in shares of Eos Energy Enterprises by 178.7% during the fourth quarter. TD Waterhouse Canada Inc. now owns 3,119 shares of the company’s stock worth $36,000 after buying an additional 2,000 shares in 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.