Nathan Kroeker Sells 152,856 Shares of Eos Energy Enterprises, Inc. (NASDAQ:EOSE) Stock

Eos Energy Enterprises, Inc. (NASDAQ:EOSE) insider Nathan Kroeker sold 152,856 shares of the stock in a transaction that occurred on Friday, May 16th. The shares were sold at an average price of $6.86, for a total value of $1,048,592.16. Following the completion of the sale, the insider now directly owns 403,815 shares of the company’s stock, valued at $2,770,170.90. This represents a 27.46% decrease in their ownership of the stock. The transaction was disclosed in a document filed with the SEC, which is available through the SEC website.

Eos Energy Enterprises Price Performance

Eos Energy Enterprises stock opened at $6.98 on Monday. The stock has a fifty day moving average price of $4.75 and a two-hundred day moving average price of $4.43. Eos Energy Enterprises, Inc. has a 52-week low of $0.66 and a 52-week high of $7.36. The firm has a market capitalization of $1.58 billion, a P/E ratio of -2.90 and a beta of 2.11.

Eos Energy Enterprises (NASDAQ:EOSE) last released its quarterly earnings data on Tuesday, May 6th. The company reported ($0.20) earnings per share (EPS) for the quarter, missing the consensus estimate of ($0.19) by ($0.01). The business had revenue of $10.46 million during the quarter, compared to analysts’ expectations of $11.77 million. On average, equities research analysts predict that Eos Energy Enterprises, Inc. will post -2.54 EPS for the current fiscal year.

Institutional Inflows and Outflows

Several hedge funds have recently bought and sold shares of EOSE. Legal & General Group Plc raised its stake in Eos Energy Enterprises by 61,220.5% during the fourth quarter. Legal & General Group Plc now owns 4,804,461 shares of the company’s stock worth $23,350,000 after acquiring an additional 4,796,626 shares in the last quarter. Driehaus Capital Management LLC acquired a new position in Eos Energy Enterprises during the first quarter worth $13,456,000. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. acquired a new position in Eos Energy Enterprises during the fourth quarter worth $16,632,000. Alyeska Investment Group L.P. increased its stake in shares of Eos Energy Enterprises by 714.3% in the fourth quarter. Alyeska Investment Group L.P. now owns 1,628,500 shares of the company’s stock valued at $7,915,000 after buying an additional 1,428,500 shares in the last quarter. Finally, Barings LLC increased its stake in shares of Eos Energy Enterprises by 100.5% in the fourth quarter. Barings LLC now owns 2,403,448 shares of the company’s stock valued at $11,681,000 after buying an additional 1,204,430 shares in the last quarter. 54.87% of the stock is currently owned by institutional investors and hedge funds.

Analyst Ratings Changes

EOSE has been the subject of several research reports. Roth Mkm cut Eos Energy Enterprises from a “buy” rating to a “neutral” rating and raised their target price for the stock from $4.00 to $5.00 in a research report on Thursday, February 20th. Cowen reaffirmed a “hold” rating on shares of Eos Energy Enterprises in a research report on Friday, March 7th. Roth Capital cut Eos Energy Enterprises from a “strong-buy” rating to a “hold” rating in a research report on Thursday, February 20th. Finally, Guggenheim reaffirmed a “buy” rating and issued a $7.00 target price on shares of Eos Energy Enterprises in a research report on Tuesday, March 18th. Four research analysts have rated the stock with a hold rating and two have issued a buy rating to the company. According to data from MarketBeat, the stock has an average rating of “Hold” and a consensus price target of $6.00.

Eos Energy Enterprises Company Profile

Eos Energy Enterprises, Inc designs, manufactures, and markets zinc-based energy storage solutions for utility-scale, microgrid, and commercial and industrial (C&I) applications in the United States. The company offers Znyth technology battery energy storage system (BESS), which provides the operating flexibility to manage increased grid complexity and price volatility.