Eos Energy Enterprises (NASDAQ:EOSE) CAO Sells $141,109.71 in Stock

Eos Energy Enterprises, Inc. (NASDAQ:EOSE) CAO Sumeet Puri sold 34,167 shares of the stock in a transaction on Wednesday, September 9th. The shares were sold at an average price of $4.13, for a total value of $141,109.71. Following the sale, the chief accounting officer directly owned 236,445 shares in the company, valued at $976,517.85. This trade represents a 12.63% decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available through 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.

Sumeet Puri also recently made the following trade(s):

• On Tuesday, July 28th, Sumeet Puri sold 29,167 shares of Eos Energy Enterprises stock. The stock was sold at an average price of $3.36, for a total value of $98,001.12.
• On Tuesday, June 30th, Sumeet Puri sold 8,823 shares of Eos Energy Enterprises stock. The shares were sold at an average price of $5.86, for a total transaction of $51,702.78.

Eos Energy Enterprises Stock Down 1.0%

Shares of NASDAQ EOSE opened at $3.95 on Friday. The firm’s 50-day moving average price is $3.90 and its 200-day moving average price is $5.73. The company has a market cap of $1.44 billion, a PE ratio of -0.58 and a beta of 2.77. Eos Energy Enterprises, Inc. has a 52-week low of $3.01 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) EPS for the quarter, missing analysts’ consensus estimates of ($0.19) by ($1.01). The firm had revenue of $68.78 million for the quarter, compared to analysts’ expectations of $68.32 million. During the same period in the previous year, the company earned ($1.05) EPS. As a group, equities research analysts anticipate that Eos Energy Enterprises, Inc. will post -0.91 EPS for the current fiscal year.

Analysts Set New Price Targets

EOSE has been the topic of a number of research reports. TD Cowen dropped their price target on Eos Energy Enterprises from $8.00 to $4.00 and set a “hold” rating on the stock in a research note on Thursday, August 6th. B. Riley Financial reduced their price objective on Eos Energy Enterprises from $8.00 to $5.00 and set a “neutral” rating for the company in a research report on Friday, August 14th. Stifel Nicolaus lowered their target price on Eos Energy Enterprises from $10.00 to $9.00 and set a “buy” rating on the stock in a report on Thursday, August 6th. Roth Capital raised their target price on Eos Energy Enterprises from $4.00 to $4.50 and gave the stock a “neutral” rating in a research report on Thursday. Finally, Wall Street Zen downgraded Eos Energy Enterprises from a “sell” rating to a “strong sell” rating in a research note on Saturday, August 8th. One equities research analyst has rated the stock with a Strong Buy rating, two have issued a Buy rating, six have assigned a Hold rating and one has assigned a Sell rating to the company. According to data from MarketBeat.com, the stock presently has a consensus rating of “Hold” and a consensus price target of $8.31.

Institutional Investors Weigh In On Eos Energy Enterprises

Institutional investors and hedge funds have recently added to or reduced their stakes in the company. Rubric Capital Management LP bought a new position in shares of Eos Energy Enterprises in the third quarter worth approximately $117,317,000. State Street Corp raised its position in shares of Eos Energy Enterprises by 6.1% during the 4th quarter. State Street Corp now owns 7,689,841 shares of the company’s stock valued at $88,126,000 after purchasing an additional 443,809 shares during the period. Geode Capital Management LLC lifted its stake in shares of Eos Energy Enterprises by 16.1% during the 4th quarter. Geode Capital Management LLC now owns 7,205,507 shares of the company’s stock valued at $82,587,000 after buying an additional 998,332 shares in the last quarter. Goldman Sachs Group Inc. lifted its stake in shares of Eos Energy Enterprises by 36.8% during the 1st quarter. Goldman Sachs Group Inc. now owns 3,900,513 shares of the company’s stock valued at $14,744,000 after buying an additional 1,050,128 shares in the last quarter. Finally, Bank of America Corp DE boosted its holdings in Eos Energy Enterprises by 43.3% in the 3rd quarter. Bank of America Corp DE now owns 3,071,242 shares of the company’s stock worth $34,981,000 after buying an additional 928,389 shares during the period. 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.