Clearline Capital LP Invests $1.80 Million in Eos Energy Enterprises, Inc. $EOSE

Clearline Capital LP purchased a new position in shares of Eos Energy Enterprises, Inc. (NASDAQ:EOSE) in the fourth quarter, according to its most recent filing with the Securities and Exchange Commission. The institutional investor purchased 156,811 shares of the company’s stock, valued at approximately $1,797,000. Clearline Capital LP owned 0.05% of Eos Energy Enterprises at the end of the most recent quarter.

Other hedge funds have also modified their holdings of the company. PNC Financial Services Group Inc. grew its holdings in shares of Eos Energy Enterprises by 3,843.8% during the 4th 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 period. Towarzystwo Funduszy Inwestycyjnych PZU SA grew its holdings in shares of Eos Energy Enterprises by 58.8% during the 4th quarter. Towarzystwo Funduszy Inwestycyjnych PZU SA now owns 2,700 shares of the company’s stock worth $31,000 after purchasing an additional 1,000 shares during the period. Danske Bank A S purchased a new position in shares of Eos Energy Enterprises during the 4th quarter worth $33,000. TD Waterhouse Canada Inc. lifted its stake 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 acquiring an additional 2,000 shares in the last quarter. Finally, GAMMA Investing LLC lifted its stake in Eos Energy Enterprises by 46.4% during the 4th quarter. GAMMA Investing LLC now owns 3,270 shares of the company’s stock worth $37,000 after acquiring an additional 1,036 shares in the last quarter. 54.87% of the stock is currently owned by hedge funds and other institutional investors.

Eos Energy Enterprises Trading Up 11.6%

EOSE opened at $7.60 on Thursday. The firm has a market cap of $2.58 billion, a price-to-earnings ratio of -1.14 and a beta of 2.62. The stock’s 50-day moving average price is $7.20 and its 200 day moving average price is $9.84. Eos Energy Enterprises, Inc. has a 12-month low of $4.18 and a 12-month high of $19.86.

Eos Energy Enterprises (NASDAQ:EOSE) last posted its quarterly earnings results on Wednesday, May 13th. The company reported $0.12 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of ($0.22) by $0.34. The company had revenue of $56.96 million during the quarter, compared to analyst estimates of $54.32 million. On average, research analysts forecast that Eos Energy Enterprises, Inc. will post -0.31 earnings per share for the current year.

Analysts Set New Price Targets

Several research firms recently issued reports on EOSE. Guggenheim reissued a “neutral” rating and set a $20.00 target price on shares of Eos Energy Enterprises in a research note on Friday, February 27th. Wall Street Zen lowered Eos Energy Enterprises from a “hold” rating to a “sell” rating in a research note on Saturday, June 13th. TD Cowen increased their target price 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. Roth Mkm decreased their target price on Eos Energy Enterprises from $12.00 to $6.00 and set a “neutral” rating on the stock in a research note on Friday, February 27th. Finally, Weiss Ratings reissued a “sell (d-)” rating on shares of Eos Energy Enterprises in a research note on Tuesday, April 21st. 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 MarketBeat, the company currently has a consensus rating of “Hold” and a consensus target price of $10.94.

Insider Transactions at Eos Energy Enterprises

In other Eos Energy Enterprises news, Director Marian Walters sold 7,681 shares of the stock in a transaction dated Tuesday, May 19th. The stock was sold at an average price of $7.07, for a total value of $54,304.67. Following the sale, the director owned 135,334 shares of the company’s stock, valued at $956,811.38. This trade represents a 5.37% decrease in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available at this link. 1.73% of the stock is owned by corporate 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.