Eos Energy Enterprises, Inc. $EOSE Shares Bought by Wellington Management Group LLP

Wellington Management Group LLP raised its holdings in Eos Energy Enterprises, Inc. (NASDAQ:EOSE) by 475.8% during the second quarter, according to its most recent disclosure with the Securities & Exchange Commission. The firm owned 1,155,515 shares of the company’s stock after purchasing an additional 954,828 shares during the quarter. Wellington Management Group LLP’s holdings in Eos Energy Enterprises were worth $6,794,000 as of its most recent SEC filing.

A number of other hedge funds have also modified their holdings of the business. Inspire Investing LLC increased its position in shares of Eos Energy Enterprises by 2.2% during the 4th quarter. Inspire Investing LLC now owns 41,442 shares of the company’s stock worth $475,000 after purchasing an additional 882 shares during the last quarter. Towarzystwo Funduszy Inwestycyjnych PZU SA lifted its position in Eos Energy Enterprises by 58.8% in the fourth quarter. Towarzystwo Funduszy Inwestycyjnych PZU SA now owns 2,700 shares of the company’s stock valued at $31,000 after buying an additional 1,000 shares during the last quarter. Diversify Advisory Services LLC boosted its stake in Eos Energy Enterprises by 6.5% during the third quarter. Diversify Advisory Services LLC now owns 17,124 shares of the company’s stock worth $195,000 after buying an additional 1,049 shares during the period. Caitong International Asset Management Co. Ltd boosted its stake in Eos Energy Enterprises by 33.1% during the fourth quarter. Caitong International Asset Management Co. Ltd now owns 5,732 shares of the company’s stock worth $66,000 after buying an additional 1,425 shares during the period. Finally, Numerai GP LLC increased its position in shares of Eos Energy Enterprises by 5.2% during the fourth quarter. Numerai GP LLC now owns 29,265 shares of the company’s stock valued at $335,000 after acquiring an additional 1,441 shares during the last quarter. 54.87% of the stock is currently owned by hedge funds and other institutional investors.

Insider Transactions at Eos Energy Enterprises

In related news, CEO Joe Mastrangelo sold 159,154 shares of Eos Energy Enterprises stock in a transaction that occurred on Monday, July 27th. The shares were sold at an average price of $3.61, for a total value of $574,545.94. Following the completion of the transaction, the chief executive officer owned 1,947,586 shares in the company, valued at $7,030,785.46. The trade was a 7.55% decrease in their ownership of the stock. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available through this hyperlink. Also, insider Michael Silberman sold 14,998 shares of the business’s stock in a transaction that occurred on Tuesday, June 30th. The stock was sold at an average price of $5.87, for a total transaction of $88,038.26. Following the transaction, the insider owned 298,277 shares of the company’s stock, valued at $1,750,885.99. This trade represents a 4.79% decrease in their position. The disclosure for this sale is available in the SEC filing. 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. Insiders have sold 448,626 shares of company stock valued at $1,828,572 over the last quarter. Insiders own 1.73% of the company’s stock.

Analysts Set New Price Targets

Several equities analysts have recently commented on the stock. TD Cowen decreased 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 report on Thursday, August 6th. Needham & Company LLC started coverage on shares of Eos Energy Enterprises in a report on Friday, May 22nd. They issued a “buy” rating and a $11.00 target price for the company. Stifel Nicolaus cut their target price on 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 set a $4.00 price target on Eos Energy Enterprises in a research report on Thursday, August 6th. Finally, B. Riley Financial dropped their price objective on Eos Energy Enterprises from $8.00 to $5.00 and set a “neutral” rating for the company in a research note on Friday, August 14th. One research analyst has rated the stock with a Strong Buy rating, two have given a Buy rating, six have issued a Hold rating and one has issued a Sell rating to the company. Based on data from MarketBeat, the company presently has a consensus rating of “Hold” and an average price target of $8.25.

Eos Energy Enterprises Price Performance

EOSE opened at $4.30 on Wednesday. The business has a fifty day moving average price of $3.97 and a 200 day moving average price of $5.84. Eos Energy Enterprises, Inc. has a 12 month low of $3.01 and a 12 month high of $19.86. The stock has a market capitalization of $1.57 billion, a price-to-earnings ratio of -0.63 and a beta of 2.77.

Eos Energy Enterprises (NASDAQ:EOSE) last posted its quarterly earnings results on Wednesday, August 5th. The company reported ($1.20) earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of ($0.19) by ($1.01). The business had revenue of $68.78 million during the quarter, compared to the consensus estimate of $68.32 million. During the same quarter in the prior year, the company earned ($1.05) earnings per share. On average, research analysts anticipate that Eos Energy Enterprises, Inc. will post -0.91 earnings per share for the current year.

Eos Energy Enterprises Profile

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.