Eos Energy Enterprises (NASDAQ:EOSE) CFO Sells $206,793.54 in Stock

Eos Energy Enterprises, Inc. (NASDAQ:EOSE) CFO Nathan Kroeker sold 35,289 shares of the stock in a transaction on Tuesday, June 30th. The shares were sold at an average price of $5.86, for a total value of $206,793.54. Following the completion of the transaction, the chief financial officer directly owned 697,801 shares in the company, valued at $4,089,113.86. This trade represents a 4.81% decrease in their position. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available through the SEC website. 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.

Eos Energy Enterprises Price Performance

NASDAQ EOSE opened at $5.23 on Friday. The firm’s fifty day moving average price is $7.23 and its 200 day moving average price is $9.19. Eos Energy Enterprises, Inc. has a 12 month low of $4.37 and a 12 month high of $19.86. The company has a market capitalization of $1.78 billion, a price-to-earnings ratio of -0.78 and a beta of 2.69.

Eos Energy Enterprises (NASDAQ:EOSE) last released its quarterly earnings data on Wednesday, May 13th. The company reported $0.12 earnings per share (EPS) for the quarter, beating the consensus estimate of ($0.22) by $0.34. The company had revenue of $56.96 million during the quarter, compared to analyst estimates of $54.32 million. As a group, sell-side analysts forecast that Eos Energy Enterprises, Inc. will post -0.31 earnings per share for the current year.

Institutional Investors Weigh In On Eos Energy Enterprises

Several hedge funds have recently modified their holdings of the stock. Vanguard Group Inc. increased its stake in Eos Energy Enterprises by 19.8% in the 4th quarter. Vanguard Group Inc. now owns 18,616,874 shares of the company’s stock valued at $213,349,000 after buying an additional 3,080,012 shares during the period. Rubric Capital Management LP acquired a new stake in shares of Eos Energy Enterprises in the 3rd quarter worth $117,317,000. State Street Corp lifted its stake in shares of Eos Energy Enterprises by 6.1% in the 4th quarter. State Street Corp now owns 7,689,841 shares of the company’s stock worth $88,126,000 after acquiring an additional 443,809 shares during the period. Geode Capital Management LLC boosted its holdings in shares of Eos Energy Enterprises by 16.1% in the fourth quarter. Geode Capital Management LLC now owns 7,205,507 shares of the company’s stock valued at $82,587,000 after acquiring an additional 998,332 shares in the last quarter. Finally, Goldman Sachs Group Inc. boosted its holdings in shares of 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 valued at $14,744,000 after acquiring an additional 1,050,128 shares in the last quarter. 54.87% of the stock is owned by institutional investors and hedge funds.

Wall Street Analysts Forecast Growth

Several research analysts have commented on EOSE shares. B. Riley Financial cut their price target on Eos Energy Enterprises from $12.00 to $8.00 and set a “neutral” rating on the stock in a research report on Thursday, March 5th. JPMorgan Chase & Co. cut their target price on shares of Eos Energy Enterprises from $9.00 to $6.00 and set a “neutral” rating on the stock in a report on Thursday, April 16th. TD Cowen upped their price target on shares of Eos Energy Enterprises from $7.00 to $8.00 and gave the company a “hold” rating in a research report on Thursday, May 14th. Needham & Company LLC began coverage on shares of Eos Energy Enterprises in a research report on Friday, May 22nd. They set a “buy” rating and a $11.00 price objective on the stock. Finally, Zacks Research upgraded shares of Eos Energy Enterprises from a “strong sell” rating to a “hold” rating in a research note on Tuesday, April 28th. Two investment analysts have rated the stock with a Buy rating, seven have assigned a Hold rating and one has assigned a Sell rating to the company. Based on data from MarketBeat, Eos Energy Enterprises has a consensus rating of “Hold” and a consensus target price of $10.94.

Eos Energy Enterprises Company 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.