204,784 Shares in Eos Energy Enterprises, Inc. $EOSE Bought by Shariaportfolio Inc.

Shariaportfolio Inc. bought a new position in Eos Energy Enterprises, Inc. (NASDAQ:EOSE) in the first quarter, HoldingsChannel reports. The fund bought 204,784 shares of the company’s stock, valued at approximately $1,016,000. Eos Energy Enterprises accounts for approximately 0.4% of Shariaportfolio Inc.’s investment portfolio, making the stock its 26th biggest position.

A number of other hedge funds have also recently made changes to their positions in EOSE. PNC Financial Services Group Inc. grew its holdings in shares of Eos Energy Enterprises by 3,843.8% during the fourth 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 during the last quarter. Towarzystwo Funduszy Inwestycyjnych PZU SA raised its holdings in 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 valued at $31,000 after buying an additional 1,000 shares during the last quarter. Danske Bank A S bought a new position in Eos Energy Enterprises in the 4th quarter valued at approximately $33,000. TD Waterhouse Canada Inc. boosted its position in Eos Energy Enterprises by 178.7% during the 4th 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 during the period. Finally, FNY Investment Advisers LLC boosted its position in Eos Energy Enterprises by 27,450.0% during the 4th quarter. FNY Investment Advisers LLC now owns 3,857 shares of the company’s stock worth $44,000 after buying an additional 3,843 shares during the period. 54.87% of the stock is owned by institutional investors and hedge funds.

Wall Street Analyst Weigh In

Several equities analysts have issued reports on EOSE shares. Truist Financial assumed coverage on shares of Eos Energy Enterprises in a research report on Monday, July 13th. They issued a “buy” rating and a $7.00 price target for the company. Weiss Ratings reiterated a “sell (d-)” rating on shares of Eos Energy Enterprises in a report on Friday, July 17th. Needham & Company LLC started coverage on shares of Eos Energy Enterprises in a research note on Friday, May 22nd. They issued a “buy” rating and a $11.00 price objective on the stock. Zacks Research upgraded Eos Energy Enterprises from a “strong sell” rating to a “hold” rating in a report on Tuesday, April 28th. Finally, JPMorgan Chase & Co. decreased their price objective on Eos Energy Enterprises from $9.00 to $6.00 and set a “neutral” rating for the company in a report on Thursday, April 16th. One investment analyst has rated the stock with a Strong Buy rating, two have issued a Buy rating, seven have assigned a Hold rating and one has issued a Sell rating to the company. According to data from MarketBeat.com, the stock has a consensus rating of “Hold” and an average price target of $9.17.

Eos Energy Enterprises Price Performance

Eos Energy Enterprises stock opened at $3.38 on Monday. The stock’s 50 day moving average is $5.85 and its 200 day moving average is $7.89. Eos Energy Enterprises, Inc. has a one year low of $3.11 and a one year high of $19.86. The firm has a market cap of $1.15 billion, a P/E ratio of -0.51 and a beta of 2.68.

Eos Energy Enterprises (NASDAQ:EOSE) last released its earnings results on Wednesday, May 13th. The company reported $0.12 earnings per share for the quarter, beating analysts’ consensus estimates of ($0.22) by $0.34. The firm had revenue of $56.96 million for the quarter, compared to analyst estimates of $54.32 million. Equities analysts anticipate that Eos Energy Enterprises, Inc. will post -0.32 earnings per share for the current fiscal year.

Insider Buying and Selling

In other news, CEO Joe Mastrangelo sold 159,154 shares of the stock in a transaction on Monday, July 27th. The shares were sold at an average price of $3.61, for a total transaction of $574,545.94. Following the completion of the sale, the chief executive officer directly owned 1,947,586 shares in the company, valued at $7,030,785.46. This represents a 7.55% decrease in their ownership of the stock. The transaction was disclosed in a filing with the SEC, which is available through the SEC website. Also, insider Michael W. Silberman sold 14,998 shares of Eos Energy Enterprises stock in a transaction on Tuesday, June 30th. The stock was sold at an average price of $5.87, for a total transaction of $88,038.26. Following the transaction, the insider directly owned 298,277 shares of the company’s stock, valued at $1,750,885.99. This represents a 4.79% decrease in their position. Additional details regarding this sale are available in the official SEC disclosure. 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. In the last 90 days, insiders sold 456,307 shares of company stock worth $1,882,877. Corporate insiders own 1.73% of the company’s stock.

Eos Energy Enterprises 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.