Legal & General Group Plc Sells 1,196,513 Shares of Eos Energy Enterprises, Inc. $EOSE

Legal & General Group Plc decreased its stake in Eos Energy Enterprises, Inc. (NASDAQ:EOSE) by 52.8% during the 4th quarter, HoldingsChannel reports. The institutional investor owned 1,071,635 shares of the company’s stock after selling 1,196,513 shares during the period. Legal & General Group Plc’s holdings in Eos Energy Enterprises were worth $12,281,000 at the end of the most recent quarter.

Several other institutional investors also recently modified their holdings of the stock. PNC Financial Services Group Inc. increased its stake 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 valued at $29,000 after acquiring an additional 2,460 shares during the last quarter. Danske Bank A S acquired a new position in Eos Energy Enterprises during the fourth quarter valued at approximately $33,000. TD Waterhouse Canada Inc. increased its stake in Eos Energy Enterprises by 178.7% in the fourth 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. GAMMA Investing LLC raised its holdings in Eos Energy Enterprises by 46.4% in the fourth 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. Finally, FNY Investment Advisers LLC raised its holdings in Eos Energy Enterprises by 27,450.0% in the fourth quarter. FNY Investment Advisers LLC now owns 3,857 shares of the company’s stock worth $44,000 after purchasing an additional 3,843 shares during the period. 54.87% of the stock is currently owned by institutional investors and hedge funds.

Eos Energy Enterprises Trading Up 5.0%

EOSE opened at $9.42 on Wednesday. The firm’s fifty day simple moving average is $6.69 and its 200 day simple moving average is $10.41. The stock has a market capitalization of $3.20 billion, a P/E ratio of -1.41 and a beta of 2.62. Eos Energy Enterprises, Inc. has a 12 month low of $3.69 and a 12 month high of $19.86.

Eos Energy Enterprises (NASDAQ:EOSE) last released its quarterly earnings results on Wednesday, May 13th. The company reported $0.12 earnings per share (EPS) for the quarter, beating 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. On average, equities research analysts predict that Eos Energy Enterprises, Inc. will post -0.8 EPS for the current fiscal year.

Analyst Ratings Changes

Several equities analysts have recently issued reports on the stock. Guggenheim reissued a “neutral” rating and issued a $20.00 price target on shares of Eos Energy Enterprises in a report on Friday, February 27th. Needham & Company LLC initiated coverage on Eos Energy Enterprises in a report on Friday, May 22nd. They set a “buy” rating and a $11.00 target price on the stock. TD Cowen boosted their target price 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. Zacks Research upgraded Eos Energy Enterprises from a “strong sell” rating to a “hold” rating in a report on Tuesday, April 28th. Finally, B. Riley Financial dropped their price target on Eos Energy Enterprises from $12.00 to $8.00 and set a “neutral” rating on the stock in a research report on Thursday, March 5th. Two research analysts have rated the stock with a Buy rating, seven have given a Hold rating and one has assigned a Sell rating to the company’s stock. According to data from MarketBeat, the stock currently has a consensus rating of “Hold” and a consensus price target of $10.94.

Insider Buying and Selling

In other Eos Energy Enterprises news, Director David Urban bought 16,250 shares of the firm’s stock in a transaction that occurred on Monday, March 9th. The stock was acquired at an average price of $6.16 per share, with a total value of $100,100.00. Following the completion of the transaction, the director owned 62,471 shares in the company, valued at approximately $384,821.36. This trade represents a 35.16% increase in their ownership of the stock. The acquisition was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. Also, Director Marian Walters sold 7,681 shares of Eos Energy Enterprises stock in a transaction on Tuesday, May 19th. The shares were sold at an average price of $7.07, for a total transaction of $54,304.67. Following the completion of the sale, the director owned 135,334 shares in the company, valued at $956,811.38. The trade was a 5.37% decrease in their ownership of the stock. The disclosure for this sale is available in the SEC filing. 1.73% of the stock is currently owned by company insiders.

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.