Insider Selling: Eos Energy Enterprises (NASDAQ:EOSE) Director Sells $54,304.67 in Stock

Eos Energy Enterprises, Inc. (NASDAQ:EOSE) Director Marian Walters sold 7,681 shares of Eos Energy Enterprises stock in a transaction that occurred on Tuesday, May 19th. The stock was sold at an average price of $7.07, for a total value of $54,304.67. Following the completion of the transaction, the director directly owned 135,334 shares in the company, valued at approximately $956,811.38. This represents a 5.37% decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this link.

Eos Energy Enterprises Price Performance

Eos Energy Enterprises stock opened at $8.17 on Friday. The stock’s 50 day moving average is $6.30 and its 200 day moving average is $10.80. The firm has a market cap of $2.77 billion, a P/E ratio of -1.22 and a beta of 2.56. Eos Energy Enterprises, Inc. has a one year low of $3.69 and a one year high of $19.86.

Eos Energy Enterprises (NASDAQ:EOSE) last posted its quarterly earnings data on Wednesday, May 13th. The company reported $0.12 EPS for the quarter, topping analysts’ consensus estimates of ($0.22) by $0.34. The company had revenue of $56.96 million during the quarter, compared to analyst estimates of $54.32 million. Equities analysts anticipate that Eos Energy Enterprises, Inc. will post -0.8 earnings per share for the current fiscal year.

Analysts Set New Price Targets

A number of brokerages have weighed in on EOSE. Guggenheim reiterated a “neutral” rating and issued a $20.00 target price on shares of Eos Energy Enterprises in a report on Friday, February 27th. Zacks Research upgraded Eos Energy Enterprises from a “strong sell” rating to a “hold” rating in a report on Tuesday, April 28th. TD Cowen lifted their target price on Eos Energy Enterprises from $7.00 to $8.00 and gave the stock a “hold” rating in a report on Thursday, May 14th. Weiss Ratings reiterated a “sell (d-)” rating on shares of Eos Energy Enterprises in a report on Tuesday, April 21st. Finally, Wall Street Zen upgraded Eos Energy Enterprises from a “strong sell” rating to a “hold” rating in a report on Saturday, May 16th. One analyst has rated the stock with a Buy rating, seven have issued a Hold rating and one has issued a Sell rating to the company’s stock. Based on data from MarketBeat.com, the stock presently has an average rating of “Hold” and an average target price of $10.93.

Institutional Investors Weigh In On Eos Energy Enterprises

Hedge funds and other institutional investors have recently modified their holdings of the company. PNC Financial Services Group Inc. increased 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 valued at $29,000 after acquiring an additional 2,460 shares in the last quarter. Chung Wu Investment Group LLC bought a new stake in shares of Eos Energy Enterprises during the third quarter valued at approximately $30,000. Towarzystwo Funduszy Inwestycyjnych PZU SA increased its holdings in shares of Eos Energy Enterprises by 58.8% during the fourth 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 shares of Eos Energy Enterprises during the fourth quarter valued at approximately $33,000. Finally, TD Waterhouse Canada Inc. increased its holdings in shares of Eos Energy Enterprises by 178.7% during the fourth quarter. TD Waterhouse Canada Inc. now owns 3,119 shares of the company’s stock valued at $36,000 after acquiring an additional 2,000 shares in the last quarter. Institutional investors own 54.87% of the company’s stock.

About Eos Energy Enterprises

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.