Eos Energy Enterprises (NASDAQ:EOSE) CFO Nathan Kroeker Sells 79,309 Shares

Eos Energy Enterprises, Inc. (NASDAQ:EOSE) CFO Nathan Kroeker sold 79,309 shares of Eos Energy Enterprises stock in a transaction dated Tuesday, July 7th. The shares were sold at an average price of $4.68, for a total transaction of $371,166.12. Following the transaction, the chief financial officer directly owned 777,110 shares of the company’s stock, valued at $3,636,874.80. This represents a 9.26% decrease in their ownership of the stock. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through 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.

Nathan Kroeker also recently made the following trade(s):

• On Tuesday, June 30th, Nathan Kroeker sold 35,289 shares of Eos Energy Enterprises stock. The shares were sold at an average price of $5.86, for a total transaction of $206,793.54.

Eos Energy Enterprises Stock Performance

Eos Energy Enterprises stock traded down $0.33 during trading hours on Tuesday, hitting $4.73. 55,070,194 shares of the stock were exchanged, compared to its average volume of 25,320,756. The stock has a market capitalization of $1.61 billion, a P/E ratio of -0.71 and a beta of 2.68. Eos Energy Enterprises, Inc. has a 12 month low of $4.37 and a 12 month high of $19.86. The business’s 50-day moving average is $7.15 and its two-hundred day moving average is $9.07.

Eos Energy Enterprises (NASDAQ:EOSE) last posted its 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 firm had revenue of $56.96 million during the quarter, compared to the consensus estimate of $54.32 million. On average, equities analysts predict that Eos Energy Enterprises, Inc. will post -0.31 earnings per share for the current fiscal year.

Institutional Trading of Eos Energy Enterprises

Hedge funds and other institutional investors have recently modified their holdings of the stock. Millennium Management LLC lifted its holdings in Eos Energy Enterprises by 55.1% during the 1st quarter. Millennium Management LLC now owns 2,522,273 shares of the company’s stock worth $9,534,000 after buying an additional 896,471 shares in the last quarter. Goldman Sachs Group Inc. increased its stake in shares of Eos Energy Enterprises by 36.8% in the 1st quarter. Goldman Sachs Group Inc. now owns 3,900,513 shares of the company’s stock valued at $14,744,000 after buying an additional 1,050,128 shares during the period. Envestnet Asset Management Inc. acquired a new stake in shares of Eos Energy Enterprises in the 2nd quarter valued at $76,000. JPMorgan Chase & Co. bought a new stake in shares of Eos Energy Enterprises during the second quarter worth $5,958,000. Finally, Prudential Financial Inc. bought a new stake in shares of Eos Energy Enterprises during the second quarter worth $144,000. Institutional investors and hedge funds own 54.87% of the company’s stock.

Analysts Set New Price Targets

Several equities analysts have issued reports on EOSE shares. TD Cowen lifted their price objective on Eos Energy Enterprises from $7.00 to $8.00 and gave the company a “hold” rating in a research report on Thursday, May 14th. Weiss Ratings restated a “sell (d-)” rating on shares of Eos Energy Enterprises in a report on Tuesday, April 21st. JPMorgan Chase & Co. lowered their target price 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. Zacks Research raised Eos Energy Enterprises from a “strong sell” rating to a “hold” rating in a report on Tuesday, April 28th. Finally, Wall Street Zen downgraded shares of Eos Energy Enterprises from a “hold” rating to a “sell” rating in a research report on Saturday. Two investment analysts have rated the stock with a Buy rating, seven have assigned a Hold rating and one has issued a Sell rating to the stock. According to MarketBeat.com, Eos Energy Enterprises currently has a consensus rating of “Hold” and an average 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.