Shariaportfolio Inc. Purchases New Shares in Eos Energy Enterprises, Inc. $EOSE

Shariaportfolio Inc. acquired a new stake in Eos Energy Enterprises, Inc. (NASDAQ:EOSE) during the first quarter, according to its most recent disclosure with the SEC. The institutional investor acquired 204,784 shares of the company’s stock, valued at approximately $1,016,000. Eos Energy Enterprises makes up about 0.4% of Shariaportfolio Inc.’s holdings, making the stock its 26th biggest position. Shariaportfolio Inc. owned 0.06% of Eos Energy Enterprises at the end of the most recent reporting period.

Other large investors have also recently added to or reduced their stakes in the company. PNC Financial Services Group Inc. boosted its position in shares of Eos Energy Enterprises by 3,843.8% in the fourth quarter. PNC Financial Services Group Inc. now owns 2,524 shares of the company’s stock valued at $29,000 after acquiring an additional 2,460 shares during the period. Towarzystwo Funduszy Inwestycyjnych PZU SA raised its stake in Eos Energy Enterprises by 58.8% in the 4th quarter. Towarzystwo Funduszy Inwestycyjnych PZU SA now owns 2,700 shares of the company’s stock worth $31,000 after purchasing an additional 1,000 shares in the last quarter. Danske Bank A S acquired a new stake in Eos Energy Enterprises in the 4th quarter worth about $33,000. TD Waterhouse Canada Inc. boosted its holdings in Eos Energy Enterprises by 178.7% in the 4th quarter. TD Waterhouse Canada Inc. now owns 3,119 shares of the company’s stock valued at $36,000 after purchasing an additional 2,000 shares during the period. Finally, FNY Investment Advisers LLC boosted its holdings in Eos Energy Enterprises by 27,450.0% in the 4th quarter. FNY Investment Advisers LLC now owns 3,857 shares of the company’s stock valued at $44,000 after purchasing an additional 3,843 shares during the period. Institutional investors own 54.87% of the company’s stock.

Analyst Ratings Changes

EOSE has been the topic of several recent research reports. Zacks Research raised shares of Eos Energy Enterprises from a “strong sell” rating to a “hold” rating in a report on Tuesday, April 28th. 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. JPMorgan Chase & Co. reduced their price target on Eos Energy Enterprises from $9.00 to $6.00 and set a “neutral” rating on the stock in a research report on Thursday, April 16th. Wall Street Zen lowered Eos Energy Enterprises from a “hold” rating to a “sell” rating in a research note on Saturday, July 4th. Finally, Weiss Ratings reaffirmed a “sell (d-)” rating on shares of Eos Energy Enterprises in a report on Friday, July 17th. One investment analyst has rated the stock with a Strong Buy rating, two have given a Buy rating, seven have given a Hold rating and one has given a Sell rating to the company. Based on data from MarketBeat, the stock has an average rating of “Hold” and a consensus target price of $9.17.

Insider Buying and Selling at Eos Energy Enterprises

In other news, insider Michael W. Silberman sold 14,998 shares of the firm’s stock in a transaction that occurred on Tuesday, June 30th. The shares were sold at an average price of $5.87, for a total value of $88,038.26. Following the sale, the insider directly owned 298,277 shares in the company, valued at approximately $1,750,885.99. This trade represents a 4.79% decrease in their position. The transaction was disclosed in a document filed with the SEC, which is accessible through this hyperlink. 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. Also, CAO Sumeet Puri sold 29,167 shares of Eos Energy Enterprises stock in a transaction that occurred on Tuesday, July 28th. The shares were sold at an average price of $3.36, for a total transaction of $98,001.12. Following the sale, the chief accounting officer directly owned 202,279 shares in the company, valued at $679,657.44. This trade represents a 12.60% decrease in their ownership of the stock. The disclosure for this sale is available in the SEC filing. 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. Insiders sold 456,307 shares of company stock worth $1,882,877 over the last quarter. 1.73% of the stock is currently owned by company insiders.

Eos Energy Enterprises Stock Performance

Shares of Eos Energy Enterprises stock opened at $3.38 on Monday. The company has a 50 day moving average of $5.85 and a 200-day moving average of $7.89. Eos Energy Enterprises, Inc. has a 1-year low of $3.11 and a 1-year high of $19.86. The company has a market cap of $1.15 billion, a PE ratio of -0.51 and a beta of 2.68.

Eos Energy Enterprises (NASDAQ:EOSE) last announced its quarterly earnings data 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. Research analysts forecast that Eos Energy Enterprises, Inc. will post -0.32 earnings per share for the current year.

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.