Eos Energy Enterprises (NASDAQ:EOSE) CEO Sells $980,000.00 in Stock

Eos Energy Enterprises, Inc. (NASDAQ:EOSE) CEO Joe Mastrangelo sold 250,000 shares of the business’s stock in a transaction dated Wednesday, September 16th. The stock was sold at an average price of $3.92, for a total transaction of $980,000.00. Following the completion of the sale, the chief executive officer directly owned 2,308,704 shares of the company’s stock, valued at $9,050,119.68. The trade was a 9.77% decrease in their position. The transaction was disclosed in a legal filing with the SEC, 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.

Joe Mastrangelo also recently made the following trade(s):

• On Monday, July 27th, Joe Mastrangelo sold 159,154 shares of Eos Energy Enterprises stock. The stock was sold at an average price of $3.61, for a total transaction of $574,545.94.

Eos Energy Enterprises Stock Performance

NASDAQ:EOSE opened at $3.96 on Friday. The company has a market capitalization of $1.44 billion, a price-to-earnings ratio of -0.58 and a beta of 2.77. Eos Energy Enterprises, Inc. has a one year low of $3.01 and a one year high of $19.86. The stock has a 50-day simple moving average of $3.83 and a 200 day simple moving average of $5.55.

Eos Energy Enterprises (NASDAQ:EOSE) last announced its quarterly earnings data on Wednesday, August 5th. The company reported ($1.20) earnings per share (EPS) for the quarter, missing the consensus estimate of ($0.19) by ($1.01). The business had revenue of $68.78 million during the quarter, compared to analysts’ expectations of $68.32 million. During the same quarter in the prior year, the firm earned ($1.05) EPS. On average, equities research analysts forecast that Eos Energy Enterprises, Inc. will post -1.28 EPS for the current fiscal year.

Analyst Ratings Changes

Several research firms have weighed in on EOSE. Wall Street Zen lowered shares of Eos Energy Enterprises from a “sell” rating to a “strong sell” rating in a research note on Saturday, August 8th. Weiss Ratings restated a “sell (d-)” rating on shares of Eos Energy Enterprises in a research report on Friday, July 17th. Needham & Company LLC decreased their price target on shares of Eos Energy Enterprises from $11.00 to $10.00 and set a “buy” rating for the company in a report on Tuesday. Roth Capital boosted their price objective on shares of Eos Energy Enterprises from $4.00 to $4.50 and gave the company a “neutral” rating in a research report on Thursday, September 10th. Finally, TD Cowen dropped their price objective on shares of 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. One research analyst has rated the stock with a Strong Buy rating, two have assigned a Buy rating, six have issued a Hold rating and one has assigned a Sell rating to the company’s stock. According to data from MarketBeat, Eos Energy Enterprises has a consensus rating of “Hold” and a consensus price target of $8.19.

Institutional Investors Weigh In On Eos Energy Enterprises

Large investors have recently added to or reduced their stakes in the stock. Geode Capital Management LLC boosted its holdings in shares of Eos Energy Enterprises by 16.1% during the fourth quarter. Geode Capital Management LLC now owns 7,205,507 shares of the company’s stock valued at $82,587,000 after acquiring an additional 998,332 shares during the period. Baker Avenue Asset Management LP acquired a new stake in shares of Eos Energy Enterprises in the 4th quarter worth about $11,542,000. Renaissance Technologies LLC acquired a new stake in shares of Eos Energy Enterprises in the 1st quarter worth about $9,152,000. First Trust Advisors LP lifted its position in Eos Energy Enterprises by 3.7% in the 1st quarter. First Trust Advisors LP now owns 1,537,606 shares of the company’s stock valued at $7,627,000 after purchasing an additional 55,145 shares during the last quarter. Finally, Wellington Management Group LLP lifted its position in Eos Energy Enterprises by 475.8% in the 2nd quarter. Wellington Management Group LLP now owns 1,155,515 shares of the company’s stock valued at $6,794,000 after purchasing an additional 954,828 shares during the last quarter. 54.87% of the stock is owned by institutional investors and hedge funds.

Eos Energy Enterprises Company Profile

Eos Energy Enterprises, Inc develops and manufactures long-duration energy storage systems designed to support the reliability and flexibility of electric grids. Its technology is based on aqueous zinc battery chemistry, which is intended to provide a non-flammable alternative to conventional lithium-ion batteries for stationary storage applications.

The company’s primary product platform is the Eos Z3, a modular battery system designed for utility-scale and other large-scale energy storage projects.