Eos Energy Enterprises, Inc. (NASDAQ:EOSE) Stake Raised by Canal Insurance CO

Canal Insurance CO increased its stake in Eos Energy Enterprises, Inc. (NASDAQ:EOSE) by 20.0% during the third quarter, HoldingsChannel.com reports. The fund owned 120,000 shares of the company’s stock after buying an additional 20,000 shares during the period. Canal Insurance CO’s holdings in Eos Energy Enterprises were worth $356,000 at the end of the most recent reporting period.

A number of other institutional investors have also recently bought and sold shares of EOSE. Vanguard Group Inc. lifted its stake in Eos Energy Enterprises by 6.6% in the first quarter. Vanguard Group Inc. now owns 9,375,916 shares of the company’s stock valued at $9,657,000 after acquiring an additional 580,022 shares during the last quarter. Millennium Management LLC raised its stake in shares of Eos Energy Enterprises by 5,744.5% in the second quarter. Millennium Management LLC now owns 3,164,017 shares of the company’s stock valued at $4,018,000 after purchasing an additional 3,109,880 shares in the last quarter. NewEdge Advisors LLC lifted its holdings in shares of Eos Energy Enterprises by 30.2% during the 2nd quarter. NewEdge Advisors LLC now owns 2,588,823 shares of the company’s stock worth $3,288,000 after acquiring an additional 600,143 shares during the period. &PARTNERS lifted its stake in Eos Energy Enterprises by 27.4% during the second quarter. &PARTNERS now owns 411,900 shares of the company’s stock worth $523,000 after purchasing an additional 88,650 shares during the period. Finally, B. Riley Wealth Advisors Inc. boosted its stake in Eos Energy Enterprises by 940.6% in the 1st quarter. B. Riley Wealth Advisors Inc. now owns 275,765 shares of the company’s stock valued at $284,000 after buying an additional 249,265 shares in the last quarter. Hedge funds and other institutional investors own 54.87% of the company’s stock.

Wall Street Analyst Weigh In

Separately, Stifel Nicolaus reissued a “buy” rating and set a $6.00 price target on shares of Eos Energy Enterprises in a research note on Wednesday, August 21st. Two analysts have rated the stock with a hold rating and five have issued a buy rating to the stock. According to data from MarketBeat.com, Eos Energy Enterprises presently has an average rating of “Moderate Buy” and a consensus target price of $3.67.

Eos Energy Enterprises Trading Down 12.3 %

Eos Energy Enterprises stock opened at $2.79 on Wednesday. The business’s 50 day simple moving average is $2.84 and its 200 day simple moving average is $1.83. Eos Energy Enterprises, Inc. has a 12 month low of $0.61 and a 12 month high of $3.66. The company has a market cap of $604.62 million, a price-to-earnings ratio of -4.61 and a beta of 2.38.

Eos Energy Enterprises (NASDAQ:EOSE) last posted its earnings results on Tuesday, August 6th. The company reported ($0.30) earnings per share (EPS) for the quarter, missing the consensus estimate of ($0.19) by ($0.11). The business had revenue of $0.90 million for the quarter, compared to analyst estimates of $4.38 million. As a group, equities research analysts forecast that Eos Energy Enterprises, Inc. will post -0.78 earnings per share for the current fiscal year.

Insider Activity

In other Eos Energy Enterprises news, Director Jeffrey S. Bornstein sold 30,000 shares of the company’s stock in a transaction dated Thursday, September 12th. The shares were sold at an average price of $2.62, for a total value of $78,600.00. Following the sale, the director now owns 84,929 shares in the company, valued at approximately $222,513.98. This represents a 0.00 % decrease in their ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this link. In other Eos Energy Enterprises news, Director Jeffrey S. Bornstein sold 30,000 shares of the company’s stock in a transaction that occurred on Thursday, September 12th. The shares were sold at an average price of $2.62, for a total transaction of $78,600.00. Following the completion of the sale, the director now directly owns 84,929 shares of the company’s stock, valued at approximately $222,513.98. This represents a 0.00 % decrease in their ownership of the stock. The sale was disclosed in a filing with the Securities & Exchange Commission, which is accessible through the SEC website. Also, CEO Joe Mastrangelo bought 52,800 shares of the company’s stock in a transaction that occurred on Friday, August 9th. The stock was purchased at an average cost of $1.43 per share, with a total value of $75,504.00. Following the acquisition, the chief executive officer now directly owns 909,793 shares in the company, valued at $1,301,003.99. This trade represents a 0.00 % increase in their position. The disclosure for this purchase can be found here. 3.80% of the stock is owned by corporate insiders.

About Eos Energy Enterprises

Eos Energy Enterprises, Inc designs, manufactures, and markets zinc-based energy storage solutions for utility-scale, microgrid, and commercial and industrial (C&I) applications in the United States. The company offers Znyth technology battery energy storage system (BESS), which provides the operating flexibility to manage increased grid complexity and price volatility.