Eos Energy Enterprises, Inc. (NASDAQ:EOSE) CEO Joe Mastrangelo Sells 270,384 Shares

Eos Energy Enterprises, Inc. (NASDAQ:EOSE) CEO Joe Mastrangelo sold 270,384 shares of the company’s stock in a transaction on Friday, May 16th. The stock was sold at an average price of $6.86, for a total value of $1,854,834.24. Following the transaction, the chief executive officer now directly owns 1,109,409 shares in the company, valued at $7,610,545.74. This represents a 19.60% decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available through this link.

Eos Energy Enterprises Stock Down 1.8%

EOSE opened at $6.98 on Friday. The firm has a market cap of $1.58 billion, a P/E ratio of -2.90 and a beta of 2.11. Eos Energy Enterprises, Inc. has a 52 week low of $0.66 and a 52 week high of $7.36. The business’s fifty day simple moving average is $4.75 and its 200 day simple moving average is $4.42.

Eos Energy Enterprises (NASDAQ:EOSE) last posted its quarterly earnings data on Tuesday, May 6th. The company reported ($0.20) EPS for the quarter, missing analysts’ consensus estimates of ($0.19) by ($0.01). The company had revenue of $10.46 million during the quarter, compared to analyst estimates of $11.77 million. As a group, equities analysts expect that Eos Energy Enterprises, Inc. will post -2.54 EPS for the current fiscal year.

Institutional Trading of Eos Energy Enterprises

A number of large investors have recently made changes to their positions in EOSE. Lake Street Private Wealth LLC acquired a new stake in shares of Eos Energy Enterprises during the fourth quarter valued at $51,000. Harel Insurance Investments & Financial Services Ltd. purchased a new position in Eos Energy Enterprises during the fourth quarter worth about $58,000. Flagship Private Wealth LLC lifted its position in Eos Energy Enterprises by 68.7% during the fourth quarter. Flagship Private Wealth LLC now owns 55,291 shares of the company’s stock worth $269,000 after buying an additional 22,525 shares during the period. R Squared Ltd purchased a new position in Eos Energy Enterprises during the fourth quarter worth about $31,000. Finally, Stephens Inc. AR purchased a new position in Eos Energy Enterprises during the fourth quarter worth about $64,000. Institutional investors and hedge funds own 54.87% of the company’s stock.

Analysts Set New Price Targets

Several analysts have weighed in on the company. Roth Mkm lowered Eos Energy Enterprises from a “buy” rating to a “neutral” rating and upped their target price for the company from $4.00 to $5.00 in a report on Thursday, February 20th. Roth Capital lowered Eos Energy Enterprises from a “strong-buy” rating to a “hold” rating in a report on Thursday, February 20th. Guggenheim reissued a “buy” rating and issued a $7.00 target price on shares of Eos Energy Enterprises in a report on Tuesday, March 18th. Finally, Cowen reissued a “hold” rating on shares of Eos Energy Enterprises in a report on Friday, March 7th. Four investment analysts have rated the stock with a hold rating and two have given a buy rating to the company’s stock. According to MarketBeat.com, the company has an average rating of “Hold” and an average target price of $6.00.

Eos Energy Enterprises Company Profile

Eos Energy Enterprises, Inc designs, manufactures, and markets zinc-based energy storage solutions for utility-scale, microgrid, and commercial and industrial (C&I) applications in the United States. The company offers Znyth technology battery energy storage system (BESS), which provides the operating flexibility to manage increased grid complexity and price volatility.