Eos Energy Enterprises (NASDAQ:EOSE) Insider Sells $371,001.12 in Stock

Eos Energy Enterprises, Inc. (NASDAQ:EOSE) insider Nathan Kroeker sold 110,417 shares of the company’s stock in a transaction on Tuesday, July 28th. The stock was sold at an average price of $3.36, for a total transaction of $371,001.12. Following the completion of the sale, the insider owned 887,527 shares of the company’s stock, valued at approximately $2,982,090.72. The trade was a 11.06% decrease in their position. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is accessible 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.

Nathan Kroeker also recently made the following trade(s):

• On Tuesday, July 7th, Nathan Kroeker sold 79,309 shares of Eos Energy Enterprises stock. The stock was sold at an average price of $4.68, for a total transaction of $371,166.12.
• On Tuesday, June 30th, Nathan Kroeker sold 35,289 shares of Eos Energy Enterprises stock. The stock was sold at an average price of $5.86, for a total value of $206,793.54.

Eos Energy Enterprises Stock Up 15.0%

EOSE stock opened at $3.61 on Friday. The firm has a market cap of $1.23 billion, a PE ratio of -0.54 and a beta of 2.68. The business has a 50 day moving average of $5.95 and a 200-day moving average of $7.98. Eos Energy Enterprises, Inc. has a 12-month low of $3.11 and a 12-month high of $19.86.

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 business had revenue of $56.96 million for the quarter, compared to the consensus estimate of $54.32 million. On average, research analysts expect that Eos Energy Enterprises, Inc. will post -0.32 earnings per share for the current year.

Wall Street Analyst Weigh In

EOSE has been the topic of a number of recent analyst reports. Zacks Research upgraded Eos Energy Enterprises from a “strong sell” rating to a “hold” rating in a research note on Tuesday, April 28th. Wall Street Zen lowered Eos Energy Enterprises from a “hold” rating to a “sell” rating in a report on Saturday, July 4th. Needham & Company LLC began coverage on Eos Energy Enterprises in a research note on Friday, May 22nd. They issued a “buy” rating and a $11.00 target price on the stock. Truist Financial started coverage on Eos Energy Enterprises in a research report on Monday, July 13th. They set a “buy” rating and a $7.00 price target on the stock. Finally, Stifel Nicolaus cut their price target on Eos Energy Enterprises from $12.00 to $10.00 and set a “buy” rating for the company in a research note on Monday, July 13th. One analyst has rated the stock with a Strong Buy rating, two have assigned a Buy rating, seven have assigned a Hold rating and one has issued a Sell rating to the company. Based on data from MarketBeat, the stock currently has an average rating of “Hold” and an average price target of $9.17.

Institutional Investors Weigh In On Eos Energy Enterprises

Hedge funds and other institutional investors have recently bought and sold shares of the business. Handelsbanken Fonder AB raised its holdings in Eos Energy Enterprises by 46.3% during the 2nd quarter. Handelsbanken Fonder AB now owns 147,500 shares of the company’s stock valued at $867,000 after acquiring an additional 46,700 shares during the period. Apella Capital LLC grew its position in shares of Eos Energy Enterprises by 170.7% in the second quarter. Apella Capital LLC now owns 39,777 shares of the company’s stock valued at $234,000 after purchasing an additional 25,084 shares in the last quarter. Byrne Asset Management LLC bought a new stake in shares of Eos Energy Enterprises during the 2nd quarter valued at $142,000. Gainplan LLC raised its stake in shares of Eos Energy Enterprises by 53.8% during the 2nd quarter. Gainplan LLC now owns 18,860 shares of the company’s stock valued at $111,000 after purchasing an additional 6,599 shares during the period. Finally, Empowered Funds LLC purchased a new stake in Eos Energy Enterprises during the 1st quarter worth about $66,000. Institutional investors own 54.87% of the company’s stock.

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.