Sumeet Puri Sells 34,167 Shares of Eos Energy Enterprises (NASDAQ:EOSE) Stock

Eos Energy Enterprises, Inc. (NASDAQ:EOSE) CAO Sumeet Puri sold 34,167 shares of the company’s stock in a transaction on Wednesday, September 9th. The shares were sold at an average price of $4.13, for a total transaction of $141,109.71. Following the completion of the transaction, the chief accounting officer owned 236,445 shares in the company, valued at approximately $976,517.85. This represents a 12.63% decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available at this link. 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 Tuesday, July 28th, Sumeet Puri sold 29,167 shares of Eos Energy Enterprises stock. The stock was sold at an average price of $3.36, for a total transaction 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 transaction of $51,702.78.

Eos Energy Enterprises Stock Performance

Shares of EOSE opened at $3.99 on Friday. Eos Energy Enterprises, Inc. has a 52 week low of $3.01 and a 52 week high of $19.86. The firm has a market cap of $1.45 billion, a P/E ratio of -0.58 and a beta of 2.77. The firm’s 50-day simple moving average is $3.92 and its 200 day simple moving average is $5.74.

Eos Energy Enterprises (NASDAQ:EOSE) last issued its quarterly earnings data on Wednesday, August 5th. The company reported ($1.20) earnings per share (EPS) for the quarter, missing the consensus estimate of ($0.19) by ($1.01). The business had revenue of $68.78 million for the quarter, compared to analysts’ expectations of $68.32 million. During the same period in the previous year, the business earned ($1.05) EPS. As a group, equities analysts forecast that Eos Energy Enterprises, Inc. will post -0.91 earnings per share for the current year.

Institutional Investors Weigh In On Eos Energy Enterprises

Several institutional investors have recently made changes to their positions in the stock. Rubric Capital Management LP bought a new position in Eos Energy Enterprises during the 3rd quarter worth $117,317,000. State Street Corp lifted its position in shares of Eos Energy Enterprises by 6.1% during the 4th quarter. State Street Corp now owns 7,689,841 shares of the company’s stock valued at $88,126,000 after acquiring an additional 443,809 shares during the period. Geode Capital Management LLC grew its holdings in shares of Eos Energy Enterprises by 16.1% during the 4th quarter. Geode Capital Management LLC now owns 7,205,507 shares of the company’s stock worth $82,587,000 after purchasing an additional 998,332 shares in the last quarter. Goldman Sachs Group Inc. grew its holdings in shares of Eos Energy Enterprises by 36.8% during the 1st quarter. Goldman Sachs Group Inc. now owns 3,900,513 shares of the company’s stock worth $14,744,000 after purchasing an additional 1,050,128 shares in the last quarter. Finally, Bank of America Corp DE increased its position in shares of Eos Energy Enterprises by 43.3% in the third quarter. Bank of America Corp DE now owns 3,071,242 shares of the company’s stock worth $34,981,000 after purchasing an additional 928,389 shares during the period. 54.87% of the stock is currently owned by institutional investors.

Analyst Ratings Changes

Several analysts recently weighed in on EOSE shares. Truist Financial initiated coverage on Eos Energy Enterprises in a report on Monday, July 13th. They set a “buy” rating and a $7.00 price target for the company. B. Riley Financial lowered their price objective on Eos Energy Enterprises from $8.00 to $5.00 and set a “neutral” rating on the stock in a research report on Friday, August 14th. Roth Capital lifted their target price on Eos Energy Enterprises from $4.00 to $4.50 and gave the stock a “neutral” rating in a report on Thursday. TD Cowen reduced their target price on shares of Eos Energy Enterprises from $8.00 to $4.00 and set a “hold” rating for the company in a research report on Thursday, August 6th. Finally, Weiss Ratings restated a “sell (d-)” rating on shares of Eos Energy Enterprises in a research note on Friday, July 17th. One investment 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 issued a Sell rating to the stock. According to data from MarketBeat, the stock currently has an average rating of “Hold” and an average target price of $8.31.

About Eos Energy Enterprises

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.