Eos Energy Enterprises (NASDAQ:EOSE) CAO Sumeet Puri Sells 34,167 Shares

Eos Energy Enterprises, Inc. (NASDAQ:EOSE) CAO Sumeet Puri sold 34,167 shares of the business’s stock in a transaction dated Wednesday, September 9th. The shares were sold at an average price of $4.13, for a total value of $141,109.71. Following the sale, the chief accounting officer owned 236,445 shares in the company, valued at approximately $976,517.85. The trade was a 12.63% decrease in their position. The transaction was disclosed in a legal filing with the SEC, which is available at this link. 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.

Sumeet Puri also recently made the following trade(s):

• On Tuesday, July 28th, Sumeet Puri sold 29,167 shares of Eos Energy Enterprises stock. The stock was sold at an average price of $3.36, for a total value of $98,001.12.
• On Tuesday, June 30th, Sumeet Puri sold 8,823 shares of Eos Energy Enterprises stock. The stock was sold at an average price of $5.86, for a total value of $51,702.78.

Eos Energy Enterprises Stock Down 3.5%

Shares of NASDAQ EOSE opened at $4.15 on Thursday. The business’s 50 day moving average price is $3.95 and its 200 day moving average price is $5.79. The firm has a market cap of $1.51 billion, a P/E ratio of -0.61 and a beta of 2.77. Eos Energy Enterprises, Inc. has a 52 week low of $3.01 and a 52 week high of $19.86.

Eos Energy Enterprises (NASDAQ:EOSE) last issued its quarterly earnings results on Wednesday, August 5th. The company reported ($1.20) earnings per share for the quarter, missing the consensus estimate of ($0.19) by ($1.01). The company had revenue of $68.78 million for the quarter, compared to the consensus estimate of $68.32 million. During the same quarter in the previous year, the business posted ($1.05) EPS. As a group, research analysts expect that Eos Energy Enterprises, Inc. will post -0.91 earnings per share for the current year.

Wall Street Analyst Weigh In

EOSE has been the subject of a number of recent research reports. Wall Street Zen lowered Eos Energy Enterprises from a “sell” rating to a “strong sell” rating in a research note on Saturday, August 8th. Roth Capital set a $4.00 price target on Eos Energy Enterprises in a report on Thursday, August 6th. Needham & Company LLC initiated coverage on Eos Energy Enterprises in a research report on Friday, May 22nd. They issued a “buy” rating and a $11.00 price objective on the stock. B. Riley Financial cut their target price on shares of Eos Energy Enterprises from $8.00 to $5.00 and set a “neutral” rating for the company in a report on Friday, August 14th. Finally, TD Cowen dropped their price target on shares of Eos Energy Enterprises from $8.00 to $4.00 and set a “hold” 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, six have assigned a Hold rating and one has assigned a Sell rating to the company’s stock. Based on data from MarketBeat.com, the company presently has an average rating of “Hold” and an average price target of $8.25.

Institutional Investors Weigh In On Eos Energy Enterprises

Institutional investors and hedge funds have recently added to or reduced their stakes in the stock. Baker Avenue Asset Management LP acquired a new position in Eos Energy Enterprises in the fourth quarter valued at about $11,542,000. Bank of America Corp DE boosted its stake in Eos Energy Enterprises by 89.1% during the first quarter. Bank of America Corp DE now owns 1,247,548 shares of the company’s stock worth $6,188,000 after buying an additional 587,752 shares during the period. Wellington Management Group LLP increased its position in shares of Eos Energy Enterprises by 475.8% during the second quarter. Wellington Management Group LLP now owns 1,155,515 shares of the company’s stock valued at $6,794,000 after acquiring an additional 954,828 shares during the last quarter. Renaissance Technologies LLC acquired a new stake in shares of Eos Energy Enterprises during the first quarter valued at about $9,152,000. Finally, Quantinno Capital Management LP raised its stake in shares of Eos Energy Enterprises by 8,418.9% in the 1st quarter. Quantinno Capital Management LP now owns 1,078,070 shares of the company’s stock valued at $5,347,000 after acquiring an additional 1,065,415 shares during the period. Hedge funds and other institutional investors 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.