Eos Energy Enterprises (NASDAQ:EOSE) Director Sells $54,304.67 in Stock

Eos Energy Enterprises, Inc. (NASDAQ:EOSE) Director Marian Walters sold 7,681 shares of the company’s stock in a transaction on Tuesday, May 19th. The shares were sold at an average price of $7.07, for a total value of $54,304.67. Following the completion of the transaction, the director directly owned 135,334 shares in the company, valued at approximately $956,811.38. This trade represents a 5.37% decrease in their position. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available at this link.

Eos Energy Enterprises Stock Performance

Shares of Eos Energy Enterprises stock traded down $0.55 during trading hours on Tuesday, hitting $6.88. The company’s stock had a trading volume of 24,854,734 shares, compared to its average volume of 30,434,432. Eos Energy Enterprises, Inc. has a twelve month low of $3.69 and a twelve month high of $19.86. The firm has a fifty day moving average of $6.25 and a 200-day moving average of $10.91. The stock has a market cap of $2.34 billion, a price-to-earnings ratio of -1.03 and a beta of 2.56.

Eos Energy Enterprises (NASDAQ:EOSE) last announced its quarterly earnings results on Wednesday, May 13th. The company reported $0.12 EPS for the quarter, beating the consensus estimate of ($0.22) by $0.34. The business had revenue of $56.96 million during the quarter, compared to analyst estimates of $54.32 million. On average, sell-side analysts expect that Eos Energy Enterprises, Inc. will post -0.8 earnings per share for the current fiscal year.

Analyst Upgrades and Downgrades

Several equities research analysts recently issued reports on EOSE shares. B. Riley Financial cut their price objective on Eos Energy Enterprises from $12.00 to $8.00 and set a “neutral” rating on the stock in a report on Thursday, March 5th. Zacks Research upgraded Eos Energy Enterprises from a “strong sell” rating to a “hold” rating in a report on Tuesday, April 28th. JPMorgan Chase & Co. dropped their price objective 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. Roth Mkm dropped their price objective on Eos Energy Enterprises from $12.00 to $6.00 and set a “neutral” rating on the stock in a report on Friday, February 27th. Finally, Wall Street Zen upgraded Eos Energy Enterprises from a “strong sell” rating to a “hold” rating in a report on Saturday. One investment analyst has rated the stock with a Buy rating, seven have given a Hold rating and one has issued a Sell rating to the company’s stock. According to MarketBeat.com, the company has an average rating of “Hold” and an average target price of $10.93.

Institutional Inflows and Outflows

A number of hedge funds have recently made changes to their positions in EOSE. Millennium Management LLC increased its holdings in shares of Eos Energy Enterprises by 55.1% in the 1st quarter. Millennium Management LLC now owns 2,522,273 shares of the company’s stock valued at $9,534,000 after acquiring an additional 896,471 shares during the last quarter. Goldman Sachs Group Inc. boosted its position in shares of 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 purchasing an additional 1,050,128 shares during the period. Envestnet Asset Management Inc. acquired a new stake in shares of Eos Energy Enterprises in the 2nd quarter valued at about $76,000. JPMorgan Chase & Co. acquired a new stake in shares of Eos Energy Enterprises in the 2nd quarter valued at about $5,958,000. Finally, Prudential Financial Inc. acquired a new stake in shares of Eos Energy Enterprises in the 2nd quarter valued at about $144,000. Hedge funds and other institutional investors 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.