Marian Walters Sells 7,681 Shares of Eos Energy Enterprises (NASDAQ:EOSE) Stock

Eos Energy Enterprises, Inc. (NASDAQ:EOSE) Director Marian Walters sold 7,681 shares of the stock in a transaction dated Tuesday, May 19th. The stock was sold at an average price of $7.07, for a total transaction of $54,304.67. Following the sale, the director owned 135,334 shares of the company’s stock, valued at $956,811.38. This trade represents a 5.37% decrease in their position. The sale was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through the SEC website.

Eos Energy Enterprises Stock Up 3.3%

Shares of EOSE stock opened at $7.11 on Thursday. The company has a market capitalization of $2.41 billion, a P/E ratio of -1.06 and a beta of 2.56. Eos Energy Enterprises, Inc. has a 12-month low of $3.69 and a 12-month high of $19.86. The firm has a 50-day moving average price of $6.27 and a 200 day moving average price of $10.86.

Eos Energy Enterprises (NASDAQ:EOSE) last issued its quarterly earnings data on Wednesday, May 13th. The company reported $0.12 earnings per share for the quarter, topping the consensus estimate of ($0.22) by $0.34. The firm had revenue of $56.96 million for the quarter, compared to the consensus estimate of $54.32 million. As a group, research analysts expect that Eos Energy Enterprises, Inc. will post -0.8 earnings per share for the current year.

Analyst Upgrades and Downgrades

EOSE has been the subject of a number of recent analyst reports. B. Riley Financial dropped their price target on Eos Energy Enterprises from $12.00 to $8.00 and set a “neutral” rating for the company in a report on Thursday, March 5th. Guggenheim restated a “neutral” rating and set a $20.00 target price on shares of Eos Energy Enterprises in a report on Friday, February 27th. Wall Street Zen upgraded Eos Energy Enterprises from a “strong sell” rating to a “hold” rating in a research note on Saturday, May 16th. 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 report on Thursday, April 16th. Finally, Roth Mkm reduced their price target on shares of Eos Energy Enterprises from $12.00 to $6.00 and set a “neutral” rating on the stock in a research report on Friday, February 27th. One research analyst has rated the stock with a Buy rating, seven have issued a Hold rating and one has issued a Sell rating to the company’s stock. Based on data from MarketBeat, the company has an average rating of “Hold” and a consensus target price of $10.93.

Institutional Inflows and Outflows

Several large investors have recently bought and sold shares of the company. Millennium Management LLC increased its stake in shares of Eos Energy Enterprises by 55.1% in the 1st quarter. Millennium Management LLC now owns 2,522,273 shares of the company’s stock valued at $9,534,000 after buying an additional 896,471 shares during the period. Goldman Sachs Group Inc. lifted its stake in shares of Eos Energy Enterprises by 36.8% during 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 during the period. Envestnet Asset Management Inc. bought a new position in Eos Energy Enterprises in the second quarter valued at about $76,000. JPMorgan Chase & Co. bought a new position in Eos Energy Enterprises in the second quarter valued at about $5,958,000. Finally, Prudential Financial Inc. acquired a new stake in Eos Energy Enterprises in the second quarter worth about $144,000. Institutional investors and hedge funds own 54.87% of the company’s stock.

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.