Michelle Buczkowski Sells 11,469 Shares of Eos Energy Enterprises (NASDAQ:EOSE) Stock

by · The Cerbat Gem

Eos Energy Enterprises, Inc. (NASDAQ:EOSE – Get Free Report) insider Michelle Buczkowski sold 11,469 shares of the business’s stock in a transaction on Tuesday, June 30th. The shares were sold at an average price of $5.87, for a total transaction of $67,323.03. Following the completion of the sale, the insider owned 59,242 shares in the company, valued at $347,750.54. This represents a 16.22% decrease in their position. The sale was disclosed in a filing with the SEC, which can be accessed through the SEC website. 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 Trading Down 3.3%

Shares of Eos Energy Enterprises stock traded down $0.20 during mid-day trading on Tuesday, reaching $5.89. 33,894,379 shares of the stock were exchanged, compared to its average volume of 25,161,453. The company has a market cap of $2.00 billion, a price-to-earnings ratio of -0.88 and a beta of 2.62. The firm has a 50-day simple moving average of $7.32 and a 200 day simple moving average of $9.40. Eos Energy Enterprises, Inc. has a fifty-two week low of $4.37 and a fifty-two week high of $19.86.

Eos Energy Enterprises (NASDAQ:EOSE – Get Free Report) last released its quarterly earnings results on Wednesday, May 13th. The company reported $0.12 EPS for the quarter, beating analysts’ consensus estimates 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. On average, research analysts predict that Eos Energy Enterprises, Inc. will post -0.31 EPS for the current fiscal year.

Wall Street Analysts Forecast Growth

A number of equities research analysts recently weighed in on EOSE shares. Weiss Ratings reaffirmed a “sell (d-)” rating on shares of Eos Energy Enterprises in a report on Tuesday, April 21st. TD Cowen boosted their price objective on Eos Energy Enterprises from $7.00 to $8.00 and gave the stock a “hold” rating in a research note on Thursday, May 14th. JPMorgan Chase & Co. decreased their target price on Eos Energy Enterprises from $9.00 to $6.00 and set a “neutral” rating on the stock in a report on Thursday, April 16th. B. Riley Financial lowered their target price on Eos Energy Enterprises from $12.00 to $8.00 and set a “neutral” rating for the company in a research note on Thursday, March 5th. Finally, Needham & Company LLC began coverage on Eos Energy Enterprises in a report on Friday, May 22nd. They issued a “buy” rating and a $11.00 price target for the company. 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 stock. According to data from MarketBeat.com, Eos Energy Enterprises currently has a consensus rating of “Hold” and a consensus target price of $10.94.

Read Our Latest Stock Analysis on EOSE

Institutional Trading of Eos Energy Enterprises

Several hedge funds have recently modified their holdings of the stock. Millennium Management LLC raised its position in 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 purchasing an additional 896,471 shares during the last quarter. Goldman Sachs Group Inc. boosted its position in Eos Energy Enterprises by 36.8% in the 1st quarter. Goldman Sachs Group Inc. now owns 3,900,513 shares of the company’s stock valued at $14,744,000 after buying an additional 1,050,128 shares during the last quarter. Envestnet Asset Management Inc. bought a new position in Eos Energy Enterprises in the 2nd quarter valued at $76,000. JPMorgan Chase & Co. acquired a new stake in shares of Eos Energy Enterprises in the 2nd quarter valued at $5,958,000. Finally, Prudential Financial Inc. acquired a new stake in shares of Eos Energy Enterprises in the 2nd quarter valued at $144,000. 54.87% of the stock is owned by institutional investors.

About Eos Energy Enterprises

(Get Free Report)

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.

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