Michelle Buczkowski Sells 11,469 Shares of Eos Energy Enterprises (NASDAQ:EOSE) Stock

Eos Energy Enterprises, Inc. (NASDAQ:EOSE) insider Michelle Buczkowski sold 11,469 shares of Eos Energy Enterprises stock in a transaction dated Tuesday, June 30th. The stock was sold at an average price of $5.87, for a total value of $67,323.03. Following the completion of the transaction, the insider owned 59,242 shares in the company, valued at $347,750.54. The trade was a 16.22% decrease in their ownership of the stock. The transaction was disclosed in a document filed with the SEC, which can be accessed 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.

Eos Energy Enterprises Trading Down 3.3%

NASDAQ:EOSE traded down $0.20 during mid-day trading on Tuesday, hitting $5.89. 33,894,379 shares of the company’s stock traded hands, compared to its average volume of 25,161,453. The firm has a 50 day moving average of $7.32 and a two-hundred day moving average of $9.40. Eos Energy Enterprises, Inc. has a 12 month low of $4.37 and a 12 month high of $19.86. The firm has a market capitalization of $2.00 billion, a price-to-earnings ratio of -0.88 and a beta of 2.62.

Eos Energy Enterprises (NASDAQ:EOSE) last released its earnings results on Wednesday, May 13th. The company reported $0.12 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of ($0.22) by $0.34. The business had revenue of $56.96 million during the quarter, compared to analyst estimates of $54.32 million. As a group, equities research analysts expect that Eos Energy Enterprises, Inc. will post -0.31 earnings per share for the current year.

Analyst Upgrades and Downgrades

A number of brokerages recently issued reports on EOSE. Weiss Ratings reaffirmed a “sell (d-)” rating on shares of Eos Energy Enterprises in a research report on Tuesday, April 21st. Zacks Research raised shares of Eos Energy Enterprises from a “strong sell” rating to a “hold” rating in a report on Tuesday, April 28th. Needham & Company LLC began coverage on shares of Eos Energy Enterprises in a research report on Friday, May 22nd. They issued a “buy” rating and a $11.00 price target on the stock. Wall Street Zen upgraded shares of Eos Energy Enterprises from a “sell” rating to a “hold” rating in a report on Sunday, June 21st. Finally, TD Cowen increased their target price on shares of Eos Energy Enterprises from $7.00 to $8.00 and gave the company a “hold” rating in a research note on Thursday, May 14th. Two research analysts have rated the stock with a Buy rating, seven have given a Hold rating and one has given a Sell rating to the company’s stock. According to MarketBeat, the stock has an average rating of “Hold” and a consensus target price of $10.94.

Institutional Inflows and Outflows

Hedge funds and other institutional investors have recently bought and sold shares of the company. State of New Jersey Common Pension Fund D bought a new position in Eos Energy Enterprises during the fourth quarter worth about $1,834,000. Baker Avenue Asset Management LP bought a new stake in shares of Eos Energy Enterprises in the 4th quarter valued at approximately $11,542,000. Vanguard Group Inc. raised its holdings in shares of Eos Energy Enterprises by 19.8% in the 4th quarter. Vanguard Group Inc. now owns 18,616,874 shares of the company’s stock worth $213,349,000 after buying an additional 3,080,012 shares in the last quarter. Park Avenue Securities LLC acquired a new position in shares of Eos Energy Enterprises in the 4th quarter worth approximately $4,307,000. Finally, Vaughan Nelson Investment Management L.P. bought a new position in shares of Eos Energy Enterprises during the 4th quarter worth approximately $22,330,000. 54.87% of the stock is owned by institutional investors.

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.