Eos Energy Enterprises (NASDAQ:EOSE) Insider Michelle Buczkowski Sells 50,000 Shares of Company Stock

Eos Energy Enterprises, Inc. (NASDAQ:EOSE) insider Michelle Buczkowski sold 50,000 shares of the firm’s stock in a transaction on Thursday, October 29th. The shares were sold at an average price of $2.00, for a total value of $100,000.00. Following the completion of the sale, the insider owned 111,827 shares in the company, valued at approximately $223,654. This represents a 30.90% decrease in their ownership of the stock. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available through this link. 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.

Eos Energy Enterprises Price Performance

Shares of NASDAQ EOSE opened at $1.98 on Friday. The business has a 50-day moving average of $3.06 and a two-hundred day moving average of $6.43. The company has a market capitalization of $721.06 million, a price-to-earnings ratio of -0.29 and a beta of 2.88. Eos Energy Enterprises, Inc. has a 1 year low of $1.59 and a 1 year high of $19.86.

Eos Energy Enterprises (NASDAQ:EOSE) last released its quarterly earnings data 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 during the quarter, compared to analyst estimates of $68.32 million. During the same quarter in the prior year, the firm posted ($1.05) EPS. As a group, equities research analysts expect that Eos Energy Enterprises, Inc. will post -1.28 earnings per share for the current year.

Institutional Trading of Eos Energy Enterprises

A number of hedge funds have recently added to or reduced their stakes in EOSE. State of Wyoming increased its stake in Eos Energy Enterprises by 53.8% in the 3rd quarter. State of Wyoming now owns 40,195 shares of the company’s stock valued at $123,000 after buying an additional 14,058 shares during the period. Apollon Wealth Management LLC purchased a new position in Eos Energy Enterprises during the 3rd quarter worth $61,000. Sterling Capital Management LLC raised its position in Eos Energy Enterprises by 861.5% during the 3rd quarter. Sterling Capital Management LLC now owns 11,634 shares of the company’s stock worth $36,000 after buying an additional 10,424 shares during the last quarter. Inspire Investing LLC lifted its stake in shares of Eos Energy Enterprises by 73.7% in the 3rd quarter. Inspire Investing LLC now owns 205,065 shares of the company’s stock worth $629,000 after acquiring an additional 87,012 shares during the period. Finally, Net Worth Advisory Group lifted its stake in shares of Eos Energy Enterprises by 232.3% in the 3rd quarter. Net Worth Advisory Group now owns 49,286 shares of the company’s stock worth $155,000 after acquiring an additional 34,453 shares during the period. 54.87% of the stock is owned by institutional investors and hedge funds.

Wall Street Analysts Forecast Growth

Several equities analysts have issued reports on the company. B. Riley Financial dropped their price objective on Eos Energy Enterprises from $8.00 to $5.00 and set a “neutral” rating on the stock in a report on Friday, August 14th. Needham & Company LLC decreased their price target on shares of Eos Energy Enterprises from $10.00 to $6.00 and set a “buy” rating for the company in a research note on Monday, October 19th. Stifel Nicolaus lowered their price objective on shares of Eos Energy Enterprises from $10.00 to $9.00 and set a “buy” rating on the stock in a research report on Thursday, August 6th. Roth Capital lifted 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 note on Thursday, September 10th. Finally, TD Cowen upgraded shares of Eos Energy Enterprises to a “hold” rating in a research note on Monday, October 5th. One investment analyst has rated the stock with a Strong Buy rating, two have assigned a Buy rating, six have assigned a Hold rating and one has assigned a Sell rating to the company. According to data from MarketBeat, the stock currently has an average rating of “Hold” and a consensus target price of $7.69.

About Eos Energy Enterprises

Eos Energy Enterprises, Inc develops and manufactures long-duration energy storage systems designed to help utilities, renewable energy developers, and commercial and industrial customers store electricity for use when demand is high or renewable generation is unavailable. The company’s technology is based on aqueous zinc battery chemistry, which it markets as a non-lithium alternative for stationary energy storage applications.

Eos’ product portfolio includes the Eos Z3 battery system and related generations of its zinc-based storage technology.