Eos Energy Enterprises, Inc. $EOSE Shares Sold by DNB Asset Management AS

DNB Asset Management AS decreased its position in Eos Energy Enterprises, Inc. (NASDAQ:EOSE) by 48.7% in the 4th quarter, HoldingsChannel reports. The firm owned 530,534 shares of the company’s stock after selling 503,552 shares during the period. DNB Asset Management AS’s holdings in Eos Energy Enterprises were worth $6,080,000 at the end of the most recent reporting period.

Other institutional investors have also recently added to or reduced their stakes in the company. Chung Wu Investment Group LLC acquired a new position in Eos Energy Enterprises in the 3rd quarter valued at about $30,000. Danske Bank A S acquired a new position in Eos Energy Enterprises in the 4th quarter valued at about $33,000. TD Waterhouse Canada Inc. raised its stake in Eos Energy Enterprises by 178.7% in the 4th quarter. TD Waterhouse Canada Inc. now owns 3,119 shares of the company’s stock valued at $36,000 after purchasing an additional 2,000 shares during the last quarter. GAMMA Investing LLC raised its stake in Eos Energy Enterprises by 46.4% in the 4th quarter. GAMMA Investing LLC now owns 3,270 shares of the company’s stock valued at $37,000 after purchasing an additional 1,036 shares during the last quarter. Finally, FNY Investment Advisers LLC raised its stake 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 valued at $44,000 after purchasing an additional 3,843 shares during the last quarter. Institutional investors and hedge funds own 54.87% of the company’s stock.

Eos Energy Enterprises Price Performance

NASDAQ EOSE opened at $7.43 on Tuesday. Eos Energy Enterprises, Inc. has a 12 month low of $3.69 and a 12 month high of $19.86. The company has a 50-day moving average of $6.23 and a 200-day moving average of $10.96. The company has a market cap of $2.52 billion, a P/E ratio of -1.11 and a beta of 2.56.

Eos Energy Enterprises (NASDAQ:EOSE) last posted its quarterly earnings data on Wednesday, May 13th. The company reported $0.12 EPS for the quarter, beating analysts’ consensus estimates of ($0.22) by $0.34. The company had revenue of $56.96 million for the quarter, compared to analyst estimates of $54.32 million. As a group, equities research analysts anticipate that Eos Energy Enterprises, Inc. will post -0.8 EPS for the current year.

Insider Activity

In other news, Director Alexander Dimitrief bought 15,000 shares of the firm’s stock in a transaction dated Monday, March 2nd. The stock was acquired at an average price of $6.04 per share, for a total transaction of $90,600.00. Following the acquisition, the director owned 235,221 shares of the company’s stock, valued at $1,420,734.84. This trade represents a 6.81% increase in their ownership of the stock. The transaction was disclosed in a filing with the SEC, which is available at this link. Also, CEO Joe Mastrangelo bought 60,000 shares of the firm’s stock in a transaction dated Monday, March 2nd. The shares were purchased at an average price of $5.75 per share, with a total value of $345,000.00. Following the acquisition, the chief executive officer directly owned 1,463,226 shares in the company, valued at approximately $8,413,549.50. This trade represents a 4.28% increase in their position. The disclosure for this purchase is available in the SEC filing. Insiders purchased a total of 115,150 shares of company stock valued at $692,962 in the last 90 days. 1.73% of the stock is currently owned by insiders.

Wall Street Analyst Weigh In

Several brokerages recently weighed in on EOSE. Guggenheim reissued a “neutral” rating and issued a $20.00 target price on shares of Eos Energy Enterprises in a research note on Friday, February 27th. Wall Street Zen raised shares of Eos Energy Enterprises from a “strong sell” rating to a “hold” rating in a research note on Saturday. TD Cowen boosted their target price on shares of Eos Energy Enterprises from $7.00 to $8.00 and gave the company a “hold” rating in a research note on Thursday, May 14th. B. Riley Financial cut their target price on shares of Eos Energy Enterprises from $12.00 to $8.00 and set a “neutral” rating for the company in a research note on Thursday, March 5th. Finally, Zacks Research raised shares of Eos Energy Enterprises from a “strong sell” rating to a “hold” rating in a research note on Tuesday, April 28th. One analyst has rated the stock with a Buy rating, seven have assigned a Hold rating and one has issued a Sell rating to the stock. According to data from MarketBeat.com, Eos Energy Enterprises has an average rating of “Hold” and a consensus target price of $10.93.

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.