Insider Selling: Eos Energy Enterprises (NASDAQ:EOSE) CFO Sells 50,000 Shares of Stock

Eos Energy Enterprises, Inc. (NASDAQ:EOSE) CFO Nathan Kroeker sold 50,000 shares of the business’s stock in a transaction that occurred on Monday, January 26th. The shares were sold at an average price of $16.04, for a total transaction of $802,000.00. Following the sale, the chief financial officer owned 662,512 shares in the company, valued at $10,626,692.48. This represents a 7.02% decrease in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this hyperlink.

Eos Energy Enterprises Stock Down 5.4%

Shares of Eos Energy Enterprises stock traded down $0.92 during midday trading on Monday, hitting $16.19. The company’s stock had a trading volume of 21,155,348 shares, compared to its average volume of 22,468,016. Eos Energy Enterprises, Inc. has a 1-year low of $3.07 and a 1-year high of $19.86. The firm has a market capitalization of $4.67 billion, a P/E ratio of -1.94 and a beta of 2.11. The stock has a 50-day simple moving average of $14.17 and a 200-day simple moving average of $11.47.

Eos Energy Enterprises (NASDAQ:EOSE) last announced its quarterly earnings data on Wednesday, November 5th. The company reported ($2.77) earnings per share (EPS) for the quarter, missing the consensus estimate of ($0.31) by ($2.46). The company had revenue of $30.51 million during the quarter, compared to analysts’ expectations of $39.55 million. As a group, sell-side analysts predict that Eos Energy Enterprises, Inc. will post -2.54 earnings per share for the current year.

Analysts Set New Price Targets

EOSE has been the topic of a number of research analyst reports. Guggenheim boosted their price objective on shares of Eos Energy Enterprises from $10.00 to $20.00 and gave the company a “buy” rating in a research report on Wednesday, October 22nd. Stifel Nicolaus boosted their price target on shares of Eos Energy Enterprises from $10.00 to $22.00 and gave the company a “buy” rating in a report on Wednesday, October 15th. Roth Mkm set a $12.00 price objective on Eos Energy Enterprises and gave the stock a “neutral” rating in a report on Wednesday, October 22nd. B. Riley lifted their price objective on Eos Energy Enterprises from $8.00 to $12.00 and gave the company a “neutral” rating in a research report on Tuesday, November 11th. Finally, JPMorgan Chase & Co. started coverage on Eos Energy Enterprises in a research report on Wednesday, December 17th. They issued a “neutral” rating and a $16.00 target price on the stock. Two investment analysts have rated the stock with a Buy rating, six have assigned a Hold rating and one has assigned a Sell rating to the company’s stock. Based on data from MarketBeat, the stock presently has a consensus rating of “Hold” and a consensus target price of $13.50.

Hedge Funds Weigh In On Eos Energy Enterprises

Hedge funds have recently bought and sold shares of the business. Gainplan LLC bought a new position in Eos Energy Enterprises during the fourth quarter valued at about $318,000. Diversify Advisory Services LLC increased its holdings in shares of Eos Energy Enterprises by 11.1% during the 4th quarter. Diversify Advisory Services LLC now owns 19,028 shares of the company’s stock valued at $218,000 after acquiring an additional 1,904 shares during the last quarter. Fiduciary Planning LLC raised its stake in shares of Eos Energy Enterprises by 13.9% in the 4th quarter. Fiduciary Planning LLC now owns 137,044 shares of the company’s stock valued at $1,571,000 after acquiring an additional 16,745 shares in the last quarter. Perigon Wealth Management LLC acquired a new stake in Eos Energy Enterprises in the 4th quarter worth approximately $221,000. Finally, FNY Investment Advisers LLC lifted its holdings in Eos Energy Enterprises by 27,450.0% in the 4th quarter. FNY Investment Advisers LLC now owns 3,857 shares of the company’s stock worth $44,000 after purchasing an additional 3,843 shares during the last quarter. 54.87% of the stock is owned by institutional investors and hedge funds.

Eos Energy Enterprises Company 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.