Eos Energy Enterprises, Inc. $EOSE Shares Purchased by Tidal Investments LLC

Tidal Investments LLC boosted its holdings in Eos Energy Enterprises, Inc. (NASDAQ:EOSE) by 151.0% during the 2nd quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission. The institutional investor owned 649,111 shares of the company’s stock after acquiring an additional 390,461 shares during the quarter. Tidal Investments LLC’s holdings in Eos Energy Enterprises were worth $3,817,000 as of its most recent SEC filing.

A number of other institutional investors and hedge funds also recently bought and sold shares of EOSE. Baker Avenue Asset Management LP bought a new position in shares of Eos Energy Enterprises during the 4th quarter valued at about $11,542,000. Wellington Management Group LLP raised its holdings in shares of Eos Energy Enterprises by 475.8% in the 2nd quarter. Wellington Management Group LLP now owns 1,155,515 shares of the company’s stock worth $6,794,000 after purchasing an additional 954,828 shares in the last quarter. Bank of America Corp DE raised its holdings in shares of Eos Energy Enterprises by 89.1% in the 1st quarter. Bank of America Corp DE now owns 1,247,548 shares of the company’s stock worth $6,188,000 after purchasing an additional 587,752 shares in the last quarter. Renaissance Technologies LLC acquired a new stake in Eos Energy Enterprises during the first quarter valued at approximately $9,152,000. Finally, Quantinno Capital Management LP lifted its stake in Eos Energy Enterprises by 8,418.9% during the first quarter. Quantinno Capital Management LP now owns 1,078,070 shares of the company’s stock valued at $5,347,000 after purchasing an additional 1,065,415 shares during the last quarter. 54.87% of the stock is owned by institutional investors and hedge funds.

Analyst Ratings Changes

Several research analysts have issued reports on the stock. B. Riley Financial decreased their price target on shares of Eos Energy Enterprises from $8.00 to $5.00 and set a “neutral” rating on the stock in a research report on Friday, August 14th. Weiss Ratings reiterated a “sell (d-)” rating on shares of Eos Energy Enterprises in a research report on Friday, July 17th. Stifel Nicolaus reduced their price objective on Eos Energy Enterprises from $10.00 to $9.00 and set a “buy” rating for the company in a research note on Thursday, August 6th. TD Cowen decreased their target price on Eos Energy Enterprises from $8.00 to $4.00 and set a “hold” rating on the stock in a report on Thursday, August 6th. Finally, Roth Capital boosted their target price on Eos Energy Enterprises from $4.00 to $4.50 and gave the stock a “neutral” rating in a research report on Thursday. One investment analyst has rated the stock with a Strong Buy rating, two have issued a Buy rating, six have assigned a Hold rating and one has assigned a Sell rating to the company’s stock. According to data from MarketBeat, Eos Energy Enterprises currently has a consensus rating of “Hold” and a consensus target price of $8.31.

Insiders Place Their Bets

In related news, insider Nathan Kroeker sold 110,417 shares of the business’s stock in a transaction that occurred on Tuesday, July 28th. The shares were sold at an average price of $3.36, for a total transaction of $371,001.12. Following the transaction, the insider directly owned 887,527 shares of the company’s stock, valued at approximately $2,982,090.72. The trade was a 11.06% decrease in their ownership of the stock. The sale was disclosed in a document filed with the SEC, which is accessible through 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, CEO Joe Mastrangelo sold 159,154 shares of the company’s stock in a transaction that occurred on Monday, July 27th. The shares were sold at an average price of $3.61, for a total transaction of $574,545.94. Following the completion of the transaction, the chief executive officer owned 1,947,586 shares in the company, valued at approximately $7,030,785.46. This represents a 7.55% decrease in their position. The disclosure for this sale is available in the SEC filing. Insiders sold 482,793 shares of company stock valued at $1,969,682 over the last ninety days. Insiders own 1.73% of the company’s stock.

Eos Energy Enterprises Trading Down 3.3%

NASDAQ:EOSE opened at $3.82 on Tuesday. The business’s fifty day moving average price is $3.87 and its 200 day moving average price is $5.64. The firm has a market capitalization of $1.39 billion, a price-to-earnings ratio of -0.56 and a beta of 2.77. Eos Energy Enterprises, Inc. has a 1-year low of $3.01 and a 1-year high of $19.86.

Eos Energy Enterprises (NASDAQ:EOSE) last announced its quarterly earnings data on Wednesday, August 5th. The company reported ($1.20) EPS for the quarter, missing analysts’ consensus estimates of ($0.19) by ($1.01). The business had revenue of $68.78 million during the quarter, compared to analysts’ expectations of $68.32 million. During the same period in the previous year, the firm earned ($1.05) EPS. Equities analysts forecast that Eos Energy Enterprises, Inc. will post -0.92 earnings per share for the current year.

Eos Energy Enterprises Profile

Eos Energy Enterprises, Inc develops and manufactures long-duration energy storage systems designed to support the reliability and flexibility of electric grids. Its technology is based on aqueous zinc battery chemistry, which is intended to provide a non-flammable alternative to conventional lithium-ion batteries for stationary storage applications.

The company’s primary product platform is the Eos Z3, a modular battery system designed for utility-scale and other large-scale energy storage projects.