Y Intercept Hong Kong Ltd Acquires New Shares in Eos Energy Enterprises, Inc. $EOSE

Y Intercept Hong Kong Ltd purchased a new position in Eos Energy Enterprises, Inc. (NASDAQ:EOSE) in the 3rd quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission (SEC). The fund purchased 506,734 shares of the company’s stock, valued at approximately $5,772,000.

Several other institutional investors also recently modified their holdings of EOSE. Geode Capital Management LLC increased its holdings in Eos Energy Enterprises by 101.4% in the 2nd quarter. Geode Capital Management LLC now owns 5,407,930 shares of the company’s stock worth $27,692,000 after buying an additional 2,722,495 shares in the last quarter. Engineers Gate Manager LP bought a new position in shares of Eos Energy Enterprises during the 2nd quarter valued at $11,840,000. Electron Capital Partners LLC grew its holdings in shares of Eos Energy Enterprises by 39.9% in the second quarter. Electron Capital Partners LLC now owns 6,979,422 shares of the company’s stock worth $35,735,000 after acquiring an additional 1,989,144 shares during the period. JPMorgan Chase & Co. bought a new position in Eos Energy Enterprises in the second quarter valued at about $5,958,000. Finally, Goldman Sachs Group Inc. boosted its position in Eos Energy Enterprises by 36.8% in the first 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 during the last quarter. 54.87% of the stock is owned by hedge funds and other institutional investors.

Analysts Set New Price Targets

Several brokerages have recently weighed in on EOSE. JPMorgan Chase & Co. initiated coverage on shares of Eos Energy Enterprises in a research note on Wednesday, December 17th. They issued a “neutral” rating and a $16.00 price objective on the stock. Guggenheim increased their price target on shares of Eos Energy Enterprises from $10.00 to $20.00 and gave the stock a “buy” rating in a research report on Wednesday, October 22nd. Stifel Nicolaus boosted their price objective on shares of Eos Energy Enterprises from $10.00 to $22.00 and gave the company a “buy” rating in a research report on Wednesday, October 15th. B. Riley upped their price objective on Eos Energy Enterprises from $8.00 to $12.00 and gave the stock a “neutral” rating in a research note on Tuesday, November 11th. Finally, Wall Street Zen downgraded Eos Energy Enterprises from a “hold” rating to a “sell” rating in a research report on Saturday, November 8th. Two research analysts have rated the stock with a Buy rating, six have assigned a Hold rating and one has issued a Sell rating to the company. Based on data from MarketBeat, Eos Energy Enterprises presently has an average rating of “Hold” and a consensus target price of $13.50.

Eos Energy Enterprises Trading Down 6.1%

Shares of EOSE opened at $17.11 on Friday. Eos Energy Enterprises, Inc. has a 12-month low of $3.07 and a 12-month high of $19.86. The company has a market capitalization of $4.93 billion, a PE ratio of -2.05 and a beta of 2.11. The business’s 50 day moving average is $14.17 and its 200 day moving average is $11.42.

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

Insiders Place Their Bets

In other news, Director Russell Monoki Stidolph sold 500,000 shares of the business’s stock in a transaction dated Friday, December 5th. The shares were sold at an average price of $14.99, for a total value of $7,495,000.00. Following the sale, the director directly owned 2,153,272 shares in the company, valued at $32,277,547.28. The trade was a 18.84% decrease in their position. The transaction was disclosed in a filing with the SEC, which is available at the SEC website. Also, insider Michael W. Silberman sold 41,667 shares of the company’s stock in a transaction dated Friday, January 23rd. The shares were sold at an average price of $17.74, for a total transaction of $739,172.58. Following the sale, the insider owned 283,279 shares in the company, valued at $5,025,369.46. This represents a 12.82% decrease in their ownership of the stock. The SEC filing for this sale provides additional information. Insiders sold 857,801 shares of company stock valued at $13,001,507 in the last three months. Corporate insiders own 3.30% of the company’s stock.

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.