Insider Selling: Eos Energy Enterprises (NASDAQ:EOSE) CEO Sells $574,545.94 in Stock

Eos Energy Enterprises, Inc. (NASDAQ:EOSE) CEO Joe Mastrangelo sold 159,154 shares of the business’s stock in a transaction that occurred on Monday, July 27th. The shares were sold at an average price of $3.61, for a total value of $574,545.94. Following the completion of the transaction, the chief executive officer directly owned 1,947,586 shares in the company, valued at approximately $7,030,785.46. The trade was a 7.55% decrease in their position. The transaction was disclosed in a document filed with the SEC, which is available at the SEC website.

Eos Energy Enterprises Stock Performance

Shares of EOSE opened at $3.61 on Friday. The stock has a market capitalization of $1.23 billion, a P/E ratio of -0.54 and a beta of 2.68. Eos Energy Enterprises, Inc. has a 1 year low of $3.11 and a 1 year high of $19.86. The company’s fifty day moving average is $5.95 and its two-hundred day moving average is $7.98.

Eos Energy Enterprises (NASDAQ:EOSE) last released 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 firm had revenue of $56.96 million during the quarter, compared to analyst estimates of $54.32 million. Sell-side analysts predict that Eos Energy Enterprises, Inc. will post -0.32 EPS for the current year.

Wall Street Analyst Weigh In

A number of equities research analysts have weighed in on EOSE shares. Stifel Nicolaus lowered their price objective on Eos Energy Enterprises from $12.00 to $10.00 and set a “buy” rating on the stock in a report on Monday, July 13th. Needham & Company LLC began coverage on Eos Energy Enterprises in a research note on Friday, May 22nd. They set a “buy” rating and a $11.00 target price for the company. Weiss Ratings reissued a “sell (d-)” rating on shares of Eos Energy Enterprises in a report on Friday, July 17th. Truist Financial started coverage on Eos Energy Enterprises in a research note on Monday, July 13th. They issued a “buy” rating and a $7.00 price target on the stock. Finally, TD Cowen upped their price objective on Eos Energy Enterprises from $7.00 to $8.00 and gave the stock a “hold” rating in a report on Thursday, May 14th. One equities research analyst has rated the stock with a Strong Buy rating, two have assigned a Buy rating, seven have issued a Hold rating and one has issued a Sell rating to the stock. According to data from MarketBeat, the stock currently has a consensus rating of “Hold” and a consensus target price of $9.17.

Institutional Inflows and Outflows

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

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.