Eos Energy Enterprises (NASDAQ:EOSE) Director Marian Walters Sells 7,681 Shares

Eos Energy Enterprises, Inc. (NASDAQ:EOSE) Director Marian Walters sold 7,681 shares of the company’s stock in a transaction dated 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 sale, the director directly owned 135,334 shares of the company’s stock, valued at approximately $956,811.38. This trade represents a 5.37% decrease in their ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this hyperlink.

Eos Energy Enterprises Trading Down 7.4%

Shares of NASDAQ EOSE traded down $0.55 during trading hours on Tuesday, reaching $6.88. The stock had a trading volume of 24,854,734 shares, compared to its average volume of 30,434,432. The firm 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, Inc. has a fifty-two week low of $3.69 and a fifty-two week high of $19.86. The firm has a 50-day moving average of $6.25 and a 200-day moving average of $10.91.

Eos Energy Enterprises (NASDAQ:EOSE) last announced its 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 firm had revenue of $56.96 million during the quarter, compared to analyst estimates of $54.32 million. On average, equities analysts predict that Eos Energy Enterprises, Inc. will post -0.8 EPS for the current year.

Hedge Funds Weigh In On Eos Energy Enterprises

A number of large investors have recently modified their holdings of EOSE. Bank of America Corp DE increased its stake in Eos Energy Enterprises by 89.1% in the 1st quarter. Bank of America Corp DE now owns 1,247,548 shares of the company’s stock valued at $6,188,000 after purchasing an additional 587,752 shares in the last quarter. Amundi increased its stake in Eos Energy Enterprises by 163.2% in the 1st quarter. Amundi now owns 26,586 shares of the company’s stock valued at $132,000 after purchasing an additional 16,485 shares in the last quarter. California State Teachers Retirement System increased its stake in Eos Energy Enterprises by 21.0% in the 1st quarter. California State Teachers Retirement System now owns 376,101 shares of the company’s stock valued at $1,865,000 after purchasing an additional 65,216 shares in the last quarter. Empowered Funds LLC purchased a new position in Eos Energy Enterprises in the 1st quarter valued at approximately $66,000. Finally, The Manufacturers Life Insurance Company increased its stake in Eos Energy Enterprises by 5.1% in the 1st quarter. The Manufacturers Life Insurance Company now owns 165,839 shares of the company’s stock valued at $823,000 after purchasing an additional 8,024 shares in the last quarter. 54.87% of the stock is owned by hedge funds and other institutional investors.

Analyst Upgrades and Downgrades

A number of analysts have weighed in on EOSE shares. Roth Mkm decreased their price objective on Eos Energy Enterprises from $12.00 to $6.00 and set a “neutral” rating for the company in a research report on Friday, February 27th. Weiss Ratings reaffirmed a “sell (d-)” rating on shares of Eos Energy Enterprises in a research report on Tuesday, April 21st. Wall Street Zen raised Eos Energy Enterprises from a “strong sell” rating to a “hold” rating in a research report on Saturday. TD Cowen increased their price objective on Eos Energy Enterprises from $7.00 to $8.00 and gave the stock a “hold” rating in a research report on Thursday, May 14th. Finally, Zacks Research raised Eos Energy Enterprises from a “strong sell” rating to a “hold” rating in a research report on Tuesday, April 28th. One equities research analyst has rated the stock with a Buy rating, seven have assigned a Hold rating and one has issued a Sell rating to the company’s stock. According to data from MarketBeat, the company presently has a consensus rating of “Hold” and a consensus price target of $10.93.

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.