Eos Energy Enterprises (NASDAQ:EOSE) Director Alexander Dimitrief Purchases 25,000 Shares of Company Stock

Eos Energy Enterprises, Inc. (NASDAQ:EOSE) Director Alexander Dimitrief acquired 25,000 shares of the business’s stock in a transaction dated Thursday, November 12th. The shares were bought at an average cost of $1.86 per share, for a total transaction of $46,500.00. Following the transaction, the director directly owned 294,296 shares of the company’s stock, valued at approximately $547,390.56. This trade represents a 9.28% increase in their position. The acquisition was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through the SEC website.

Eos Energy Enterprises Price Performance

Shares of NASDAQ EOSE traded up $0.10 during mid-day trading on Friday, hitting $1.91. The company had a trading volume of 16,282,406 shares, compared to its average volume of 25,821,832. The company has a market capitalization of $699.75 million, a PE ratio of -0.91 and a beta of 3.17. Eos Energy Enterprises, Inc. has a 1-year low of $1.59 and a 1-year high of $18.74. The business’s 50-day simple moving average is $2.72 and its 200 day simple moving average is $5.61.

Eos Energy Enterprises (NASDAQ:EOSE) last released its earnings results on Thursday, November 5th. The company reported ($0.17) earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of ($0.24) by $0.07. Eos Energy Enterprises had a negative return on equity of 20.68% and a net margin of 89.23%. The firm had revenue of $82.73 million during the quarter, compared to analyst estimates of $81.60 million. On average, analysts expect that Eos Energy Enterprises, Inc. will post -1.26 EPS for the current year.

Hedge Funds Weigh In On Eos Energy Enterprises

Institutional investors and hedge funds have recently modified their holdings of the company. Renaissance Technologies LLC acquired a new stake in Eos Energy Enterprises in the first quarter valued at $9,152,000. First Trust Advisors LP lifted its holdings in Eos Energy Enterprises by 3.7% during the 1st quarter. First Trust Advisors LP now owns 1,537,606 shares of the company’s stock worth $7,627,000 after buying an additional 55,145 shares during the last quarter. Bank of America Corp DE boosted its position in shares of Eos Energy Enterprises by 89.1% during the 1st quarter. Bank of America Corp DE now owns 1,247,548 shares of the company’s stock worth $6,188,000 after acquiring an additional 587,752 shares in the last quarter. Wellington Management Group LLP boosted its position in shares of Eos Energy Enterprises by 475.8% during the 2nd quarter. Wellington Management Group LLP now owns 1,155,515 shares of the company’s stock worth $6,794,000 after acquiring an additional 954,828 shares in the last quarter. Finally, Quantinno Capital Management LP boosted its position in shares of Eos Energy Enterprises by 8,418.9% during the 1st quarter. Quantinno Capital Management LP now owns 1,078,070 shares of the company’s stock worth $5,347,000 after acquiring an additional 1,065,415 shares in the last quarter. Institutional investors and hedge funds own 54.87% of the company’s stock.

Wall Street Analyst Weigh In

EOSE has been the subject of several recent research reports. Wall Street Zen cut Eos Energy Enterprises from a “sell” rating to a “strong sell” rating in a research note on Saturday, August 8th. Weiss Ratings raised Eos Energy Enterprises from a “sell (d-)” rating to a “hold (c-)” rating in a research report on Monday, November 9th. B. Riley Financial cut their target price on shares of Eos Energy Enterprises from $5.00 to $2.00 and set a “neutral” rating on the stock in a research note on Monday, November 9th. Stifel Nicolaus reduced their target price on shares of Eos Energy Enterprises from $9.00 to $4.00 and set a “buy” rating on the stock in a report on Monday, November 9th. Finally, Roth Capital lifted their price target on shares of Eos Energy Enterprises from $4.00 to $4.50 and gave the stock a “neutral” rating in a research note on Thursday, September 10th. One investment analyst has rated the stock with a Strong Buy rating, two have issued a Buy rating and seven have issued a Hold rating to the company’s stock. Based on data from MarketBeat, the stock currently has a consensus rating of “Hold” and an average target price of $6.69.

Eos Energy Enterprises Company Profile

Eos Energy Enterprises, Inc. develops and manufactures zinc-based battery energy storage systems. Its aqueous zinc battery technology is designed for stationary, long-duration storage, providing an alternative to lithium-ion systems for applications that require electricity to be stored and delivered over extended periods. The company’s products include the Eos Z3 battery system, which is intended for grid-scale and commercial and industrial uses, such as supporting renewable energy integration and helping manage electricity supply and demand.