Royal Bank of Canada Has $2.09 Million Stake in Eos Energy Enterprises, Inc. $EOSE

Royal Bank of Canada reduced its stake in shares of Eos Energy Enterprises, Inc. (NASDAQ:EOSE) by 50.5% during the 1st quarter, Holdings Channel.com reports. The firm owned 421,165 shares of the company’s stock after selling 430,428 shares during the quarter. Royal Bank of Canada’s holdings in Eos Energy Enterprises were worth $2,089,000 at the end of the most recent reporting period.

A number of other hedge funds and other institutional investors have also modified their holdings of EOSE. PNC Financial Services Group Inc. raised its position in Eos Energy Enterprises by 3,843.8% in 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 last quarter. Towarzystwo Funduszy Inwestycyjnych PZU SA boosted its position 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 $33,000. TD Waterhouse Canada Inc. increased its stake in shares of Eos Energy Enterprises by 178.7% in the 4th quarter. TD Waterhouse Canada Inc. now owns 3,119 shares of the company’s stock valued at $36,000 after buying an additional 2,000 shares during the period. Finally, KFA Private Wealth Group LLC acquired a new stake in shares of Eos Energy Enterprises in the 1st quarter valued at $50,000. Institutional investors and hedge funds own 54.87% of the company’s stock.

Analyst Ratings Changes

Several equities analysts have recently issued reports on the company. B. Riley Financial cut their price target on Eos Energy Enterprises from $8.00 to $5.00 and set a “neutral” rating on the stock in a research note on Friday. Zacks Research raised Eos Energy Enterprises from a “strong sell” rating to a “hold” rating in a report on Tuesday, April 28th. Wall Street Zen downgraded shares of Eos Energy Enterprises from a “sell” rating to a “strong sell” rating in a research report on Saturday, August 8th. Stifel Nicolaus reduced their target price on shares of Eos Energy Enterprises from $10.00 to $9.00 and set a “buy” rating on the stock in a research note on Thursday, August 6th. Finally, TD Cowen lowered their price target on shares of Eos Energy Enterprises from $8.00 to $4.00 and set a “hold” rating for the company in a research report on Thursday, August 6th. One analyst has rated the stock with a Strong Buy rating, two have issued a Buy rating, seven have issued a Hold rating and one has issued a Sell rating to the company’s stock. According to data from MarketBeat.com, the stock presently has a consensus rating of “Hold” and an average target price of $8.06.

Insider Transactions at Eos Energy Enterprises

In other news, insider Nathan Kroeker sold 110,417 shares of the company’s stock in a transaction dated Tuesday, July 28th. The stock was sold at an average price of $3.36, for a total transaction of $371,001.12. Following the completion of the transaction, the insider directly owned 887,527 shares of the company’s stock, valued at $2,982,090.72. This represents a 11.06% decrease in their ownership of the stock. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available at this hyperlink. 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. Also, insider Michelle Buczkowski sold 11,469 shares of the stock in a transaction dated Tuesday, June 30th. The stock was sold at an average price of $5.87, for a total value of $67,323.03. Following the transaction, the insider owned 59,242 shares of the company’s stock, valued at approximately $347,750.54. The trade was a 16.22% decrease in their ownership of the stock. The SEC filing for this sale provides additional information. 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 448,626 shares of company stock worth $1,828,572. Company insiders own 1.73% of the company’s stock.

Eos Energy Enterprises Stock Performance

NASDAQ EOSE opened at $3.93 on Tuesday. The stock has a market cap of $1.43 billion, a price-to-earnings ratio of -0.58 and a beta of 2.75. The business has a 50 day simple moving average of $4.92 and a 200 day simple moving average of $6.88. Eos Energy Enterprises, Inc. has a 52-week low of $3.11 and a 52-week high of $19.86.

Eos Energy Enterprises (NASDAQ:EOSE) last announced its quarterly earnings results on Wednesday, August 5th. The company reported ($1.20) earnings per share for the quarter, missing analysts’ consensus estimates of ($0.19) by ($1.01). The business had revenue of $68.78 million for the quarter, compared to analysts’ expectations of $68.32 million. During the same quarter in the prior year, the firm posted ($1.05) earnings per share. On average, analysts predict that Eos Energy Enterprises, Inc. will post -0.91 EPS for the current year.

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.