Eos Energy Enterprises (NASDAQ:EOSE) Stock: Insider Alexander Dimitrief Purchases 25,000 Shares

Eos Energy Enterprises, Inc. (NASDAQ:EOSE) Director Alexander Dimitrief bought 25,000 shares of the company’s stock in a transaction that occurred on Thursday, November 12th. The shares were acquired at an average cost of $1.86 per share, with a total value of $46,500.00. Following the transaction, the director owned 294,296 shares in the company, valued at approximately $547,390.56. This represents a 9.28% increase in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through the SEC website.

Eos Energy Enterprises Price Performance

NASDAQ EOSE traded up $0.10 during mid-day trading on Friday, hitting $1.91. The company’s stock had a trading volume of 16,282,406 shares, compared to its average volume of 25,821,832. Eos Energy Enterprises, Inc. has a 52-week low of $1.59 and a 52-week high of $18.74. The stock’s fifty day simple moving average is $2.72 and its two-hundred day simple moving average is $5.61. The firm has a market capitalization of $699.75 million, a P/E ratio of -0.91 and a beta of 3.17.

Eos Energy Enterprises (NASDAQ:EOSE) last released its quarterly earnings data on Thursday, November 5th. The company reported ($0.17) earnings per share (EPS) for the quarter, topping the consensus estimate of ($0.24) by $0.07. Eos Energy Enterprises had a net margin of 89.23% and a negative return on equity of 20.68%. The company had revenue of $82.73 million during the quarter, compared to the consensus estimate of $81.60 million. On average, equities analysts forecast that Eos Energy Enterprises, Inc. will post -1.26 earnings per share for the current fiscal year.

Analysts Set New Price Targets

Several equities analysts recently weighed in on EOSE shares. Stifel Nicolaus reduced their target price on shares of Eos Energy Enterprises from $9.00 to $4.00 and set a “buy” rating on the stock in a report on Monday, November 9th. Needham & Company LLC lowered their price target on Eos Energy Enterprises from $10.00 to $6.00 and set a “buy” rating for the company in a report on Monday, October 19th. TD Cowen raised Eos Energy Enterprises to a “hold” rating in a research report on Monday, October 5th. Weiss Ratings raised shares of Eos Energy Enterprises from a “sell (d-)” rating to a “hold (c-)” rating in a research report on Monday, November 9th. Finally, B. Riley Financial decreased their target price on shares of Eos Energy Enterprises from $5.00 to $2.00 and set a “neutral” rating for the company in a research note on Monday, November 9th. One investment analyst has rated the stock with a Strong Buy rating, two have assigned a Buy rating and seven have given a Hold rating to the company’s stock. Based on data from MarketBeat.com, the stock has an average rating of “Hold” and an average price target of $6.69.

Institutional Trading of Eos Energy Enterprises

Hedge funds and other institutional investors have recently modified their holdings of the business. Allworth Financial LP raised its position in shares of Eos Energy Enterprises by 198.6% in the 2nd quarter. Allworth Financial LP now owns 4,300 shares of the company’s stock valued at $25,000 after purchasing an additional 2,860 shares in the last quarter. Gainplan LLC boosted its stake in shares of Eos Energy Enterprises by 22.7% during the 3rd quarter. Gainplan LLC now owns 23,144 shares of the company’s stock valued at $71,000 after buying an additional 4,284 shares during the last quarter. Principal Financial Group Inc. grew its position in shares of Eos Energy Enterprises by 24.1% during the first quarter. Principal Financial Group Inc. now owns 22,634 shares of the company’s stock worth $112,000 after buying an additional 4,402 shares in the last quarter. Arizona State Retirement System grew its position in shares of Eos Energy Enterprises by 5.2% during the second quarter. Arizona State Retirement System now owns 93,679 shares of the company’s stock worth $551,000 after buying an additional 4,657 shares in the last quarter. Finally, Concurrent Investment Advisors LLC increased its stake in shares of Eos Energy Enterprises by 11.0% in the second quarter. Concurrent Investment Advisors LLC now owns 53,038 shares of the company’s stock worth $312,000 after buying an additional 5,247 shares during the last quarter. 54.87% of the stock is owned by hedge funds and other institutional investors.

About Eos Energy Enterprises

Eos Energy Enterprises, Inc. develops and manufactures zinc-based battery energy storage systems. Its aqueous zinc battery technology is designed for stationary, long-duration storage, providing an alternative to lithium-ion systems for applications that require electricity to be stored and delivered over extended periods. The company’s products include the Eos Z3 battery system, which is intended for grid-scale and commercial and industrial uses, such as supporting renewable energy integration and helping manage electricity supply and demand.