Eos Energy Enterprises (NASDAQ:EOSE) Insider Sells $100,000.00 in Stock

by · The Cerbat Gem

Eos Energy Enterprises, Inc. (NASDAQ:EOSE – Get Free Report) insider Michelle Buczkowski sold 50,000 shares of the stock in a transaction that occurred on Thursday, October 29th. The stock was sold at an average price of $2.00, for a total transaction of $100,000.00. Following the transaction, the insider directly owned 111,827 shares in the company, valued at approximately $223,654. This represents a 30.90% decrease in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available through this hyperlink. 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 Stock Down 4.5%

Shares of EOSE opened at $1.89 on Friday. The firm has a market cap of $688.28 million, a PE ratio of -0.28 and a beta of 2.88. The company’s fifty day moving average is $3.03 and its two-hundred day moving average is $6.36. Eos Energy Enterprises, Inc. has a fifty-two week low of $1.59 and a fifty-two week high of $19.86.

Eos Energy Enterprises (NASDAQ:EOSE – Get Free Report) last announced its quarterly earnings data on Wednesday, August 5th. The company reported ($1.20) earnings per share (EPS) for the quarter, missing the consensus estimate of ($0.19) by ($1.01). The firm had revenue of $68.78 million for the quarter, compared to the consensus estimate of $68.32 million. During the same period in the previous year, the company earned ($1.05) earnings per share. As a group, equities research analysts anticipate that Eos Energy Enterprises, Inc. will post -1.28 earnings per share for the current year.

Wall Street Analyst Weigh In

Several equities research analysts have commented on the company. B. Riley Financial dropped their price target on Eos Energy Enterprises from $8.00 to $5.00 and set a “neutral” rating for the company in a research note on Friday, August 14th. Weiss Ratings reaffirmed a “sell (d-)” rating on shares of Eos Energy Enterprises in a research note on Thursday, October 15th. Truist Financial began coverage on Eos Energy Enterprises in a report on Monday, July 13th. They set a “buy” rating and a $7.00 target price for the company. Needham & Company LLC dropped their target price on shares of Eos Energy Enterprises from $10.00 to $6.00 and set a “buy” rating for the company in a research report on Monday, October 19th. Finally, TD Cowen upgraded shares of Eos Energy Enterprises to a “hold” rating in a report on Monday, October 5th. One investment analyst has rated the stock with a Strong Buy rating, two have given a Buy rating, six have issued a Hold rating and one has assigned a Sell rating to the company’s stock. According to MarketBeat.com, Eos Energy Enterprises currently has an average rating of “Hold” and a consensus price target of $7.69.

Read Our Latest Analysis on Eos Energy Enterprises

Institutional Inflows and Outflows

Several hedge funds have recently added to or reduced their stakes in EOSE. Renaissance Technologies LLC acquired a new position in shares of Eos Energy Enterprises during the first quarter worth about $9,152,000. Quantinno Capital Management LP boosted its position in shares of Eos Energy Enterprises by 8,418.9% in the first quarter. Quantinno Capital Management LP now owns 1,078,070 shares of the company’s stock worth $5,347,000 after buying an additional 1,065,415 shares during the period. Wellington Management Group LLP grew its stake in shares of Eos Energy Enterprises by 475.8% in the second quarter. Wellington Management Group LLP now owns 1,155,515 shares of the company’s stock valued at $6,794,000 after buying an additional 954,828 shares in the last quarter. Bank of New York Mellon Corp acquired a new stake in shares of Eos Energy Enterprises in the second quarter valued at about $5,530,000. Finally, Bank of America Corp DE grew its stake in shares of Eos Energy Enterprises by 89.1% in the first quarter. Bank of America Corp DE now owns 1,247,548 shares of the company’s stock valued at $6,188,000 after buying an additional 587,752 shares in the last quarter. 54.87% of the stock is owned by hedge funds and other institutional investors.

About Eos Energy Enterprises

(Get Free Report)

Eos Energy Enterprises, Inc develops and manufactures long-duration energy storage systems designed to help utilities, renewable energy developers, and commercial and industrial customers store electricity for use when demand is high or renewable generation is unavailable. The company’s technology is based on aqueous zinc battery chemistry, which it markets as a non-lithium alternative for stationary energy storage applications.

Eos’ product portfolio includes the Eos Z3 battery system and related generations of its zinc-based storage technology.

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