Eos Energy Enterprises, Inc. $EOSE Stock Holdings Lessened by Legal & General Group Plc

Legal & General Group Plc reduced its stake in shares of Eos Energy Enterprises, Inc. (NASDAQ:EOSE) by 52.8% in the 4th quarter, according to the company in its most recent Form 13F filing with the SEC. The firm owned 1,071,635 shares of the company’s stock after selling 1,196,513 shares during the quarter. Legal & General Group Plc owned approximately 0.37% of Eos Energy Enterprises worth $12,281,000 as of its most recent filing with the SEC.

A number of other institutional investors and hedge funds have also recently added to or reduced their stakes in the stock. L.K. Benson & Company P.C. acquired a new stake in shares of Eos Energy Enterprises during the 3rd quarter valued at $887,000. State of New Jersey Common Pension Fund D purchased a new stake in shares of Eos Energy Enterprises during the fourth quarter worth $1,834,000. Vanguard Group Inc. boosted its position in Eos Energy Enterprises by 19.8% during the fourth quarter. Vanguard Group Inc. now owns 18,616,874 shares of the company’s stock valued at $213,349,000 after purchasing an additional 3,080,012 shares during the last quarter. DNB Asset Management AS boosted its position in Eos Energy Enterprises by 22.4% during the third quarter. DNB Asset Management AS now owns 1,034,086 shares of the company’s stock valued at $11,778,000 after purchasing an additional 189,039 shares during the last quarter. Finally, Park Avenue Securities LLC purchased a new position in Eos Energy Enterprises in the fourth quarter valued at about $4,307,000. 54.87% of the stock is owned by hedge funds and other institutional investors.

Wall Street Analysts Forecast Growth

A number of research firms have recently weighed in on EOSE. JPMorgan Chase & Co. cut their price target on Eos Energy Enterprises from $9.00 to $6.00 and set a “neutral” rating for the company in a research note on Thursday, April 16th. Wall Street Zen upgraded shares of Eos Energy Enterprises from a “strong sell” rating to a “hold” rating in a report on Saturday, May 16th. Guggenheim reaffirmed a “neutral” rating and set a $20.00 target price on shares of Eos Energy Enterprises in a research report on Friday, February 27th. TD Cowen boosted their price target on Eos Energy Enterprises from $7.00 to $8.00 and gave the company a “hold” rating in a research note on Thursday, May 14th. Finally, Weiss Ratings restated a “sell (d-)” rating on shares of Eos Energy Enterprises in a research note on Tuesday, April 21st. Two equities research analysts have rated the stock with a Buy rating, seven have issued a Hold rating and one has given a Sell rating to the stock. According to data from MarketBeat.com, the stock currently has a consensus rating of “Hold” and a consensus price target of $10.94.

Eos Energy Enterprises Stock Up 5.0%

NASDAQ:EOSE opened at $9.42 on Wednesday. The firm has a market cap of $3.20 billion, a PE ratio of -1.41 and a beta of 2.62. Eos Energy Enterprises, Inc. has a 12 month low of $3.69 and a 12 month high of $19.86. The company’s 50-day moving average price is $6.69 and its two-hundred day moving average price is $10.41.

Eos Energy Enterprises (NASDAQ:EOSE) last released its quarterly earnings results on Wednesday, May 13th. The company reported $0.12 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of ($0.22) by $0.34. The business had revenue of $56.96 million during the quarter, compared to the consensus estimate of $54.32 million. On average, research analysts expect that Eos Energy Enterprises, Inc. will post -0.8 EPS for the current fiscal year.

Insider Buying and Selling at Eos Energy Enterprises

In other news, Director Marian Walters sold 7,681 shares of the company’s stock in a transaction on Tuesday, May 19th. The stock was sold at an average price of $7.07, for a total transaction of $54,304.67. Following the transaction, the director owned 135,334 shares of the company’s stock, valued at $956,811.38. This represents a 5.37% decrease in their ownership of the stock. The sale was disclosed in a legal filing with the SEC, which is available through this link. Also, Director David Urban purchased 16,250 shares of the firm’s stock in a transaction that occurred on Monday, March 9th. The stock was purchased at an average price of $6.16 per share, for a total transaction of $100,100.00. Following the acquisition, the director owned 62,471 shares of the company’s stock, valued at $384,821.36. The trade was a 35.16% increase in their ownership of the stock. Additional details regarding this purchase are available in the official SEC disclosure. 1.73% of the stock is currently owned by corporate insiders.

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.