Clearline Capital LP Purchases Shares of 156,811 Eos Energy Enterprises, Inc. $EOSE

Clearline Capital LP purchased a new stake in Eos Energy Enterprises, Inc. (NASDAQ:EOSE) during the fourth quarter, according to the company in its most recent disclosure with the SEC. The firm purchased 156,811 shares of the company’s stock, valued at approximately $1,797,000.

A number of other hedge funds also recently bought and sold shares 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 valued at $29,000 after purchasing an additional 2,460 shares in the last quarter. Towarzystwo Funduszy Inwestycyjnych PZU SA raised its position in shares of Eos Energy Enterprises by 58.8% during the 4th quarter. Towarzystwo Funduszy Inwestycyjnych PZU SA now owns 2,700 shares of the company’s stock worth $31,000 after acquiring an additional 1,000 shares in the last quarter. Danske Bank A S acquired a new stake in shares of Eos Energy Enterprises during the 4th quarter worth about $33,000. TD Waterhouse Canada Inc. raised its position in shares of Eos Energy Enterprises by 178.7% during the 4th quarter. TD Waterhouse Canada Inc. now owns 3,119 shares of the company’s stock worth $36,000 after acquiring an additional 2,000 shares in the last quarter. Finally, GAMMA Investing LLC raised its position in shares of Eos Energy Enterprises by 46.4% during the 4th quarter. GAMMA Investing LLC now owns 3,270 shares of the company’s stock worth $37,000 after acquiring an additional 1,036 shares in the last quarter. Institutional investors and hedge funds own 54.87% of the company’s stock.

Wall Street Analyst Weigh In

Several equities research analysts have recently weighed in on the company. Wall Street Zen lowered Eos Energy Enterprises from a “hold” rating to a “sell” rating in a research report on Saturday, June 13th. Roth Mkm cut their target price on Eos Energy Enterprises from $12.00 to $6.00 and set a “neutral” rating on the stock in a research report on Friday, February 27th. TD Cowen raised their target price 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. Weiss Ratings reissued a “sell (d-)” rating on shares of Eos Energy Enterprises in a research report on Tuesday, April 21st. Finally, Zacks Research raised Eos Energy Enterprises from a “strong sell” rating to a “hold” rating in a research report on Tuesday, April 28th. Two equities research analysts have rated the stock with a Buy rating, seven have assigned a Hold rating and one has assigned a Sell rating to the company’s stock. Based on data from MarketBeat.com, the company has an average rating of “Hold” and an average price target of $10.94.

Insider Buying and Selling

In other Eos Energy Enterprises news, Director Marian Walters sold 7,681 shares of Eos Energy Enterprises stock in a transaction that occurred on Tuesday, May 19th. The stock was sold at an average price of $7.07, for a total transaction of $54,304.67. Following the transaction, the director owned 135,334 shares of the company’s stock, valued at $956,811.38. The trade was a 5.37% decrease in their ownership of the stock. The transaction was disclosed in a filing with the SEC, which is available at this hyperlink. 1.73% of the stock is currently owned by company insiders.

Eos Energy Enterprises Stock Up 11.6%

EOSE opened at $7.60 on Thursday. The firm has a market cap of $2.58 billion, a price-to-earnings ratio of -1.14 and a beta of 2.62. Eos Energy Enterprises, Inc. has a 52 week low of $4.18 and a 52 week high of $19.86. The business’s 50 day moving average is $7.20 and its two-hundred day moving average is $9.84.

Eos Energy Enterprises (NASDAQ:EOSE) last released its quarterly earnings results on Wednesday, May 13th. The company reported $0.12 EPS for the quarter, topping the consensus estimate of ($0.22) by $0.34. The firm had revenue of $56.96 million for the quarter, compared to analyst estimates of $54.32 million. Equities analysts expect that Eos Energy Enterprises, Inc. will post -0.31 EPS for the current fiscal year.

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.