Insider Selling: Eos Energy Enterprises (NASDAQ:EOSE) CAO Sells $98,001.12 in Stock

Eos Energy Enterprises, Inc. (NASDAQ:EOSE) CAO Sumeet Puri sold 29,167 shares of the business’s stock in a transaction on Tuesday, July 28th. The stock was sold at an average price of $3.36, for a total value of $98,001.12. Following the completion of the sale, the chief accounting officer directly owned 202,279 shares in the company, valued at $679,657.44. This represents a 12.60% decrease in their position. The transaction was disclosed in a 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, 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 Trading Up 15.0%

Shares of Eos Energy Enterprises stock opened at $3.61 on Friday. The company’s 50-day moving average price is $5.95 and its two-hundred day moving average price is $7.98. Eos Energy Enterprises, Inc. has a 52 week low of $3.11 and a 52 week high of $19.86. The stock has a market cap of $1.23 billion, a PE ratio of -0.54 and a beta of 2.68.

Eos Energy Enterprises (NASDAQ:EOSE) last released its earnings results on Wednesday, May 13th. The company reported $0.12 EPS for the quarter, topping analysts’ consensus estimates of ($0.22) by $0.34. The business had revenue of $56.96 million during the quarter, compared to the consensus estimate of $54.32 million. On average, equities analysts predict that Eos Energy Enterprises, Inc. will post -0.32 EPS for the current fiscal year.

Hedge Funds Weigh In On Eos Energy Enterprises

Institutional investors and hedge funds have recently added to or reduced their stakes in the company. Inspire Investing LLC grew its holdings in shares of Eos Energy Enterprises by 2.2% during the fourth quarter. Inspire Investing LLC now owns 41,442 shares of the company’s stock valued at $475,000 after buying an additional 882 shares in the last quarter. Towarzystwo Funduszy Inwestycyjnych PZU SA raised its position in 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 buying an additional 1,000 shares during the period. GAMMA Investing LLC lifted its stake in Eos Energy Enterprises by 46.4% in the 4th quarter. GAMMA Investing LLC now owns 3,270 shares of the company’s stock worth $37,000 after acquiring an additional 1,036 shares in the last quarter. Diversify Advisory Services LLC lifted its stake in Eos Energy Enterprises by 6.5% in the 3rd quarter. Diversify Advisory Services LLC now owns 17,124 shares of the company’s stock worth $195,000 after acquiring an additional 1,049 shares in the last quarter. Finally, Caitong International Asset Management Co. Ltd boosted its position in Eos Energy Enterprises by 33.1% during the 4th quarter. Caitong International Asset Management Co. Ltd now owns 5,732 shares of the company’s stock worth $66,000 after acquiring an additional 1,425 shares during the period. 54.87% of the stock is currently owned by hedge funds and other institutional investors.

Wall Street Analysts Forecast Growth

A number of brokerages have recently commented on EOSE. Needham & Company LLC initiated coverage on Eos Energy Enterprises in a research note on Friday, May 22nd. They set a “buy” rating and a $11.00 price objective for the company. Weiss Ratings reaffirmed a “sell (d-)” rating on shares of Eos Energy Enterprises in a research report on Friday, July 17th. Stifel Nicolaus reduced their target price on Eos Energy Enterprises from $12.00 to $10.00 and set a “buy” rating for the company in a report on Monday, July 13th. Truist Financial initiated coverage on Eos Energy Enterprises in a research report on Monday, July 13th. They issued a “buy” rating and a $7.00 price target for the company. Finally, TD Cowen lifted their price target on Eos Energy Enterprises from $7.00 to $8.00 and gave the stock a “hold” rating in a research note on Thursday, May 14th. One equities research analyst has rated the stock with a Strong Buy rating, two have issued a Buy rating, seven have assigned a Hold rating and one has issued a Sell rating to the company’s stock. According to MarketBeat.com, Eos Energy Enterprises presently has a consensus rating of “Hold” and an average price target of $9.17.

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.