Eos Energy Enterprises (NASDAQ:EOSE) CAO Sells $171,500.00 in Stock

Eos Energy Enterprises, Inc. (NASDAQ:EOSE) CAO Sumeet Puri sold 43,750 shares of the stock in a transaction dated Wednesday, September 16th. The shares were sold at an average price of $3.92, for a total transaction of $171,500.00. Following the completion of the transaction, the chief accounting officer directly owned 280,195 shares in the company, valued at approximately $1,098,364.40. This represents a 13.51% decrease in their ownership of the stock. The transaction was disclosed in a document filed 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.

Sumeet Puri also recently made the following trade(s):

• On Wednesday, September 9th, Sumeet Puri sold 34,167 shares of Eos Energy Enterprises stock. The stock was sold at an average price of $4.13, for a total value of $141,109.71.
• On Tuesday, July 28th, Sumeet Puri sold 29,167 shares of Eos Energy Enterprises stock. The shares were sold at an average price of $3.36, for a total value of $98,001.12.
• On Tuesday, June 30th, Sumeet Puri sold 8,823 shares of Eos Energy Enterprises stock. The stock was sold at an average price of $5.86, for a total value of $51,702.78.

Eos Energy Enterprises Price Performance

EOSE opened at $3.96 on Friday. The business has a fifty day simple moving average of $3.83 and a 200 day simple moving average of $5.55. Eos Energy Enterprises, Inc. has a 1 year low of $3.01 and a 1 year high of $19.86. The company has a market capitalization of $1.44 billion, a PE ratio of -0.58 and a beta of 2.77.

Eos Energy Enterprises (NASDAQ:EOSE) last announced its 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 firm had revenue of $68.78 million for the quarter, compared to the consensus estimate of $68.32 million. During the same period in the previous year, the firm posted ($1.05) earnings per share. Equities analysts anticipate that Eos Energy Enterprises, Inc. will post -1.28 earnings per share for the current fiscal year.

Wall Street Analysts Forecast Growth

EOSE has been the topic of a number of analyst reports. Wall Street Zen downgraded Eos Energy Enterprises from a “sell” rating to a “strong sell” rating in a research report on Saturday, August 8th. 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 report on Friday, August 14th. Weiss Ratings reiterated a “sell (d-)” rating on shares of Eos Energy Enterprises in a research report on Friday, July 17th. TD Cowen decreased their price target on Eos Energy Enterprises from $8.00 to $4.00 and set a “hold” rating on the stock in a research report on Thursday, August 6th. Finally, Roth Capital boosted their price target on Eos Energy Enterprises from $4.00 to $4.50 and gave the company a “neutral” rating in a research note on Thursday, September 10th. One analyst has rated the stock with a Strong Buy rating, two have assigned a Buy rating, six have assigned a Hold rating and one has given a Sell rating to the company’s stock. Based on data from MarketBeat.com, the company currently has an average rating of “Hold” and a consensus price target of $8.19.

Institutional Inflows and Outflows

Institutional investors have recently modified their holdings of the stock. Caitong International Asset Management Co. Ltd lifted its stake in shares of Eos Energy Enterprises by 33.1% in the 4th quarter. Caitong International Asset Management Co. Ltd now owns 5,732 shares of the company’s stock valued at $66,000 after acquiring an additional 1,425 shares during the last quarter. KPP Advisory Services LLC grew its position in Eos Energy Enterprises by 16.2% during the 1st quarter. KPP Advisory Services LLC now owns 16,480 shares of the company’s stock worth $82,000 after acquiring an additional 2,295 shares during the last quarter. Allworth Financial LP grew its position in Eos Energy Enterprises by 198.6% during the 2nd quarter. Allworth Financial LP now owns 4,300 shares of the company’s stock worth $25,000 after acquiring an additional 2,860 shares during the last quarter. Global Retirement Partners LLC increased its holdings in Eos Energy Enterprises by 52.2% in the 4th quarter. Global Retirement Partners LLC now owns 9,130 shares of the company’s stock worth $105,000 after purchasing an additional 3,130 shares in the last quarter. Finally, Swiss Life Asset Management Ltd increased its holdings in Eos Energy Enterprises by 31.3% in the 4th quarter. Swiss Life Asset Management Ltd now owns 14,796 shares of the company’s stock worth $170,000 after purchasing an additional 3,523 shares in the last quarter. 54.87% of the stock is currently owned by institutional investors and hedge funds.

About Eos Energy Enterprises

Eos Energy Enterprises, Inc develops and manufactures long-duration energy storage systems designed to support the reliability and flexibility of electric grids. Its technology is based on aqueous zinc battery chemistry, which is intended to provide a non-flammable alternative to conventional lithium-ion batteries for stationary storage applications.

The company’s primary product platform is the Eos Z3, a modular battery system designed for utility-scale and other large-scale energy storage projects.