NewEdge Advisors LLC Has $4.93 Million Stake in Eos Energy Enterprises, Inc. $EOSE

NewEdge Advisors LLC trimmed its position in Eos Energy Enterprises, Inc. (NASDAQ:EOSE) by 46.7% during the first quarter, HoldingsChannel.com reports. The firm owned 993,639 shares of the company’s stock after selling 871,904 shares during the quarter. NewEdge Advisors LLC’s holdings in Eos Energy Enterprises were worth $4,928,000 as of its most recent SEC filing.

Other institutional investors and hedge funds also recently modified their holdings of the company. PNC Financial Services Group Inc. grew its holdings in shares of Eos Energy Enterprises by 3,843.8% during the fourth quarter. PNC Financial Services Group Inc. now owns 2,524 shares of the company’s stock worth $29,000 after buying an additional 2,460 shares in the last quarter. Towarzystwo Funduszy Inwestycyjnych PZU SA lifted 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 valued at $31,000 after acquiring an additional 1,000 shares in the last quarter. Danske Bank A S bought a new stake in Eos Energy Enterprises in the 4th quarter valued at approximately $33,000. TD Waterhouse Canada Inc. boosted its position in Eos Energy Enterprises by 178.7% during the 4th quarter. TD Waterhouse Canada Inc. now owns 3,119 shares of the company’s stock worth $36,000 after acquiring an additional 2,000 shares during the last quarter. Finally, KFA Private Wealth Group LLC bought a new position in shares of Eos Energy Enterprises during the 1st quarter worth approximately $50,000. 54.87% of the stock is owned by institutional investors and hedge funds.

Wall Street Analysts Forecast Growth

A number of research analysts recently weighed in on the stock. Needham & Company LLC began coverage on shares of Eos Energy Enterprises in a research report on Friday, May 22nd. They issued a “buy” rating and a $11.00 target price for the company. Wall Street Zen cut shares of Eos Energy Enterprises from a “sell” rating to a “strong sell” rating in a research report on Saturday. 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. TD Cowen decreased their price objective on Eos Energy Enterprises from $8.00 to $4.00 and set a “hold” rating for the company in a report on Thursday, August 6th. Finally, Stifel Nicolaus lowered their target price on Eos Energy Enterprises from $10.00 to $9.00 and set a “buy” rating on the stock in a research report on Thursday, August 6th. One equities research 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 assigned a Sell rating to the stock. Based on data from MarketBeat.com, the stock has a consensus rating of “Hold” and an average price target of $8.39.

Eos Energy Enterprises Price Performance

Shares of EOSE opened at $4.26 on Wednesday. The company’s 50-day moving average is $5.20 and its 200-day moving average is $7.24. The firm has a market capitalization of $1.45 billion, a PE ratio of -0.62 and a beta of 2.75. Eos Energy Enterprises, Inc. has a fifty-two week low of $3.11 and a fifty-two week high of $19.86.

Eos Energy Enterprises (NASDAQ:EOSE) last issued its quarterly earnings data on Wednesday, August 5th. The company reported ($1.20) earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of ($0.19) by ($1.01). The firm had revenue of $68.78 million during the quarter, compared to the consensus estimate of $68.32 million. During the same period in the previous year, the company posted ($1.05) EPS. Analysts predict that Eos Energy Enterprises, Inc. will post -0.56 earnings per share for the current fiscal year.

Insider Activity

In other Eos Energy Enterprises news, insider Michelle Buczkowski sold 11,469 shares of the company’s stock in a transaction on Tuesday, June 30th. The stock was sold at an average price of $5.87, for a total transaction of $67,323.03. Following the completion of the sale, the insider directly owned 59,242 shares in the company, valued at $347,750.54. This represents a 16.22% decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available at 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. Also, insider Michael W. Silberman sold 14,998 shares of the firm’s stock in a transaction dated Tuesday, June 30th. The shares were sold at an average price of $5.87, for a total value of $88,038.26. Following the completion of the sale, the insider directly owned 298,277 shares in the company, valued at $1,750,885.99. This trade represents a 4.79% decrease in their ownership of the stock. Additional details regarding this sale are available in the official SEC disclosure. 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. In the last quarter, insiders sold 456,307 shares of company stock worth $1,882,877. 1.73% of the stock is owned by insiders.

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.