Haiyan Song Acquires 5,000 Shares of Eos Energy Enterprises (NASDAQ:EOSE) Stock

Eos Energy Enterprises, Inc. (NASDAQ:EOSE) Director Haiyan Song bought 5,000 shares of Eos Energy Enterprises stock in a transaction that occurred on Monday, September 14th. The stock was purchased at an average cost of $3.84 per share, for a total transaction of $19,200.00. Following the acquisition, the director owned 15,000 shares of the company’s stock, valued at $57,600. This represents a 50.00% increase in their ownership of the stock. The acquisition was disclosed in a legal filing with the Securities & Exchange Commission, which is available at the SEC website.

Eos Energy Enterprises Stock Down 3.3%

Shares of Eos Energy Enterprises stock opened at $3.82 on Tuesday. Eos Energy Enterprises, Inc. has a 52-week low of $3.01 and a 52-week high of $19.86. The company has a market capitalization of $1.39 billion, a P/E ratio of -0.56 and a beta of 2.77. The company has a 50 day moving average of $3.87 and a 200 day moving average of $5.64.

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 for the quarter, compared to the consensus estimate of $68.32 million. During the same quarter in the previous year, the company posted ($1.05) earnings per share. As a group, research analysts anticipate that Eos Energy Enterprises, Inc. will post -0.92 earnings per share for the current fiscal year.

Institutional Trading of Eos Energy Enterprises

Hedge funds and other institutional investors have recently made changes to their positions in the company. Geode Capital Management LLC lifted its holdings in shares of Eos Energy Enterprises by 16.1% in the 4th quarter. Geode Capital Management LLC now owns 7,205,507 shares of the company’s stock valued at $82,587,000 after purchasing an additional 998,332 shares during the last quarter. California State Teachers Retirement System grew its stake in Eos Energy Enterprises by 512.9% during the 2nd quarter. California State Teachers Retirement System now owns 2,305,278 shares of the company’s stock worth $13,555,000 after buying an additional 1,929,177 shares during the last quarter. Baker Avenue Asset Management LP purchased a new position in Eos Energy Enterprises during the 4th quarter worth approximately $11,542,000. Renaissance Technologies LLC acquired a new position in Eos Energy Enterprises during the first quarter worth approximately $9,152,000. Finally, First Trust Advisors LP increased its position in Eos Energy Enterprises by 3.7% during the first quarter. First Trust Advisors LP now owns 1,537,606 shares of the company’s stock worth $7,627,000 after buying an additional 55,145 shares during the period. Institutional investors and hedge funds own 54.87% of the company’s stock.

Analyst Upgrades and Downgrades

EOSE has been the topic of several recent analyst reports. Truist Financial started coverage on Eos Energy Enterprises in a report on Monday, July 13th. They issued a “buy” rating and a $7.00 target price on the stock. Stifel Nicolaus lowered their price objective on Eos Energy Enterprises from $10.00 to $9.00 and set a “buy” rating for the company in a research report on Thursday, August 6th. Roth Capital upped their price objective on Eos Energy Enterprises from $4.00 to $4.50 and gave the stock a “neutral” rating in a research report on Thursday. Wall Street Zen downgraded Eos Energy Enterprises from a “sell” rating to a “strong sell” rating in a report on Saturday, August 8th. Finally, TD Cowen cut their target price on 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 assigned a Buy rating, six have issued a Hold rating and one has issued a Sell rating to the company. According to data from MarketBeat.com, Eos Energy Enterprises has an average rating of “Hold” and a consensus target price of $8.19.

About Eos Energy Enterprises

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.