Eos Energy Enterprises (NASDAQ:EOSE) Insider Sells $67,323.03 in Stock

Eos Energy Enterprises, Inc. (NASDAQ:EOSE) insider Michelle Buczkowski sold 11,469 shares of the business’s stock in a transaction on Tuesday, June 30th. The shares were sold at an average price of $5.87, for a total transaction of $67,323.03. Following the sale, the insider directly owned 59,242 shares in the company, valued at $347,750.54. This trade represents a 16.22% decrease in their ownership of the stock. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible 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

NASDAQ EOSE opened at $5.23 on Friday. The stock’s fifty day moving average price is $7.23 and its 200 day moving average price is $9.19. Eos Energy Enterprises, Inc. has a 1 year low of $4.37 and a 1 year high of $19.86. The company has a market cap of $1.78 billion, a price-to-earnings ratio of -0.78 and a beta of 2.69.

Eos Energy Enterprises (NASDAQ:EOSE) last issued its quarterly earnings results on Wednesday, May 13th. The company reported $0.12 EPS for the quarter, topping analysts’ consensus estimates 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. Research analysts expect that Eos Energy Enterprises, Inc. will post -0.31 earnings per share for the current year.

Institutional Trading of Eos Energy Enterprises

Hedge funds have recently modified their holdings of the stock. Empowered Funds LLC acquired a new stake in Eos Energy Enterprises during the first quarter worth about $66,000. Shariaportfolio Inc. purchased a new position in Eos Energy Enterprises during the first quarter valued at approximately $1,016,000. J. Derek Lewis & Associates Inc. acquired a new position in Eos Energy Enterprises in the first quarter valued at approximately $98,000. Bank of America Corp DE lifted its holdings in Eos Energy Enterprises by 89.1% in the first quarter. Bank of America Corp DE now owns 1,247,548 shares of the company’s stock valued at $6,188,000 after acquiring an additional 587,752 shares during the period. Finally, Amundi boosted its position in Eos Energy Enterprises by 163.2% in the 1st quarter. Amundi now owns 26,586 shares of the company’s stock worth $132,000 after purchasing an additional 16,485 shares in the last quarter. Hedge funds and other institutional investors own 54.87% of the company’s stock.

Analysts Set New Price Targets

A number of equities research analysts recently commented on EOSE shares. 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 raised shares of Eos Energy Enterprises from a “sell” rating to a “hold” rating in a research report on Sunday, June 21st. Needham & Company LLC began coverage on shares of Eos Energy Enterprises in a research report on Friday, May 22nd. They set a “buy” rating and a $11.00 price target for the company. JPMorgan Chase & Co. dropped their price objective on shares of Eos Energy Enterprises from $9.00 to $6.00 and set a “neutral” rating on the stock in a report on Thursday, April 16th. Finally, B. Riley Financial cut their price objective on shares of Eos Energy Enterprises from $12.00 to $8.00 and set a “neutral” rating on the stock in a research note on Thursday, March 5th. Two research analysts have rated the stock with a Buy rating, seven have issued a Hold rating and one has given a Sell rating to the company. Based on data from MarketBeat, the company currently has a consensus rating of “Hold” and a consensus price target of $10.94.

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.