Insider Selling: Eos Energy Enterprises, Inc. (NASDAQ:EOSE) Director Sells $78,600.00 in Stock

Eos Energy Enterprises, Inc. (NASDAQ:EOSE) Director Jeffrey S. Bornstein sold 30,000 shares of Eos Energy Enterprises stock in a transaction on Thursday, September 12th. The shares were sold at an average price of $2.62, for a total transaction of $78,600.00. Following the completion of the sale, the director now directly owns 84,929 shares of the company’s stock, valued at $222,513.98. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available at this link.

Eos Energy Enterprises Stock Performance

Shares of EOSE opened at $2.45 on Thursday. The firm has a market capitalization of $509.91 million, a P/E ratio of -1.57 and a beta of 2.39. Eos Energy Enterprises, Inc. has a 52 week low of $0.61 and a 52 week high of $2.81. The stock has a 50 day moving average price of $2.10 and a two-hundred day moving average price of $1.35.

Eos Energy Enterprises (NASDAQ:EOSE) last announced its earnings results on Tuesday, August 6th. The company reported ($0.30) earnings per share (EPS) for the quarter, missing the consensus estimate of ($0.19) by ($0.11). The company had revenue of $0.90 million during the quarter, compared to the consensus estimate of $4.38 million. On average, equities analysts forecast that Eos Energy Enterprises, Inc. will post -0.78 earnings per share for the current year.

Hedge Funds Weigh In On Eos Energy Enterprises

A number of hedge funds have recently bought and sold shares of the company. Price T Rowe Associates Inc. MD lifted its position in shares of Eos Energy Enterprises by 74.4% during the first quarter. Price T Rowe Associates Inc. MD now owns 43,930 shares of the company’s stock valued at $46,000 after purchasing an additional 18,735 shares in the last quarter. Cullen Frost Bankers Inc. boosted its stake in shares of Eos Energy Enterprises by 40.0% in the 2nd quarter. Cullen Frost Bankers Inc. now owns 70,000 shares of the company’s stock worth $89,000 after buying an additional 20,000 shares during the last quarter. American International Group Inc. grew its holdings in shares of Eos Energy Enterprises by 41.2% in the first quarter. American International Group Inc. now owns 75,555 shares of the company’s stock valued at $78,000 after acquiring an additional 22,056 shares in the last quarter. Powell Investment Advisors LLC increased its position in shares of Eos Energy Enterprises by 52.2% during the first quarter. Powell Investment Advisors LLC now owns 70,000 shares of the company’s stock valued at $72,000 after acquiring an additional 24,000 shares during the last quarter. Finally, Ground Swell Capital LLC bought a new stake in Eos Energy Enterprises during the second quarter worth $34,000. 54.87% of the stock is owned by hedge funds and other institutional investors.

Analyst Ratings Changes

EOSE has been the topic of several recent research reports. Roth Mkm reiterated a “buy” rating and issued a $4.50 price target on shares of Eos Energy Enterprises in a report on Friday, June 28th. Stifel Nicolaus reaffirmed a “buy” rating and set a $6.00 target price on shares of Eos Energy Enterprises in a research report on Wednesday, August 21st. Finally, B. Riley raised shares of Eos Energy Enterprises to a “hold” rating in a research report on Tuesday, June 25th. Two equities research analysts have rated the stock with a hold rating and five have assigned a buy rating to the company’s stock. Based on data from MarketBeat.com, the stock currently has a consensus rating of “Moderate Buy” and a consensus target price of $3.67.

About Eos Energy Enterprises

Eos Energy Enterprises, Inc designs, manufactures, and markets zinc-based energy storage solutions for utility-scale, microgrid, and commercial and industrial (C&I) applications in the United States. The company offers Znyth technology battery energy storage system (BESS), which provides the operating flexibility to manage increased grid complexity and price volatility.