Rafferty Asset Management LLC bought a new stake in Eos Energy Enterprises, Inc. (NASDAQ:EOSE) during the 2nd quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The institutional investor bought 201,399 shares of the company’s stock, valued at approximately $3,617,000. Rafferty Asset Management LLC owned 0.33% of Eos Energy Enterprises at the end of the most recent quarter.
A number of other large investors also recently added to or reduced their stakes in EOSE. Larson Financial Group LLC acquired a new position in Eos Energy Enterprises in the first quarter valued at about $32,000. Alps Advisors Inc. acquired a new position in Eos Energy Enterprises in the first quarter valued at about $6,593,000. BlackRock Inc. acquired a new position in Eos Energy Enterprises in the first quarter valued at about $13,651,000. Vontobel Holding Ltd. acquired a new position in Eos Energy Enterprises in the first quarter valued at about $211,000. Finally, UBS Group AG lifted its stake in Eos Energy Enterprises by 2,295.4% in the first quarter. UBS Group AG now owns 102,548 shares of the company’s stock valued at $2,023,000 after buying an additional 98,267 shares during the period. 46.45% of the stock is currently owned by hedge funds and other institutional investors.
NASDAQ:EOSE opened at $12.70 on Wednesday. The company has a debt-to-equity ratio of 0.20, a quick ratio of 3.55 and a current ratio of 3.73. The company has a market cap of $681.18 million, a PE ratio of -1.74 and a beta of 1.00. Eos Energy Enterprises, Inc. has a 52-week low of $9.94 and a 52-week high of $31.95. The stock has a 50-day simple moving average of $14.94 and a 200 day simple moving average of $16.28.
A number of equities research analysts have recently commented on EOSE shares. Northland Securities dropped their price target on Eos Energy Enterprises from $27.00 to $20.00 and set an “outperform” rating on the stock in a research report on Thursday, August 12th. Seaport Res Ptn reaffirmed a “buy” rating on shares of Eos Energy Enterprises in a research report on Thursday, July 15th. Seaport Global Securities started coverage on Eos Energy Enterprises in a research report on Thursday, July 15th. They set a “buy” rating and a $27.00 price target on the stock. Finally, Zacks Investment Research lowered Eos Energy Enterprises from a “hold” rating to a “sell” rating in a research report on Monday, August 16th. One investment analyst has rated the stock with a sell rating and four have given a buy rating to the company’s stock. According to data from MarketBeat, the company currently has an average rating of “Buy” and an average target price of $27.75.
In related news, major shareholder B. Riley Financial, Inc. sold 50,000 shares of the stock in a transaction dated Thursday, August 26th. The stock was sold at an average price of $13.85, for a total transaction of $692,500.00. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available through this hyperlink. Over the last quarter, insiders have sold 330,816 shares of company stock valued at $4,517,795. 15.10% of the stock is owned by corporate insiders.
About Eos Energy Enterprises
Eos Energy Enterprises, Inc designs, manufactures, and deploys battery storage solutions for utility, commercial and industrial, and renewable energy markets in the United States. The company offers stationary battery storage solutions. Its flagship product is the Eos Znyth DC battery system designed to meet the requirements of the grid-scale energy storage market.
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