Eos Energy Enterprises (NASDAQ:EOSE) Stock: Insider Michelle Buczkowski Sells 50,000 Shares

Eos Energy Enterprises, Inc. (NASDAQ:EOSE) insider Michelle Buczkowski sold 50,000 shares of Eos Energy Enterprises stock in a transaction dated Thursday, October 29th. The stock was sold at an average price of $2.00, for a total value of $100,000.00. Following the completion of the transaction, the insider directly owned 111,827 shares in the company, valued at $223,654. This represents a 30.90% decrease in their position. The sale was disclosed in a filing with the SEC, which is available through this hyperlink. 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 Price Performance

Shares of EOSE opened at $1.89 on Friday. Eos Energy Enterprises, Inc. has a one year low of $1.59 and a one year high of $19.86. The company has a 50-day moving average of $3.03 and a two-hundred day moving average of $6.36. The stock has a market cap of $688.28 million, a price-to-earnings ratio of -0.28 and a beta of 2.88.

Eos Energy Enterprises (NASDAQ:EOSE) last issued its quarterly earnings results on Wednesday, August 5th. The company reported ($1.20) EPS for the quarter, missing the consensus estimate of ($0.19) by ($1.01). The company had revenue of $68.78 million for the quarter, compared to analyst estimates of $68.32 million. During the same period in the previous year, the business posted ($1.05) EPS. Analysts anticipate that Eos Energy Enterprises, Inc. will post -1.28 earnings per share for the current year.

Analyst Upgrades and Downgrades

A number of equities research analysts have issued reports on EOSE shares. Weiss Ratings reiterated a “sell (d-)” rating on shares of Eos Energy Enterprises in a research report on Thursday, October 15th. Truist Financial began coverage on Eos Energy Enterprises in a research report on Monday, July 13th. They issued a “buy” rating and a $7.00 target price on the stock. TD Cowen upgraded Eos Energy Enterprises to a “hold” rating in a report on Monday, October 5th. Needham & Company LLC reduced their target price on shares of Eos Energy Enterprises from $10.00 to $6.00 and set a “buy” rating for the company in a research note on Monday, October 19th. Finally, Roth Capital raised their price target on shares of Eos Energy Enterprises from $4.00 to $4.50 and gave the company a “neutral” rating in a report on Thursday, September 10th. One research analyst has rated the stock with a Strong Buy rating, two have issued a Buy rating, six have issued a Hold rating and one has given a Sell rating to the company. According to data from MarketBeat.com, the company currently has a consensus rating of “Hold” and an average target price of $7.69.

Institutional Inflows and Outflows

Several institutional investors have recently added to or reduced their stakes in EOSE. KPP Advisory Services LLC increased its position in shares of Eos Energy Enterprises by 16.2% in the first quarter. KPP Advisory Services LLC now owns 16,480 shares of the company’s stock worth $82,000 after purchasing an additional 2,295 shares during the period. Allworth Financial LP raised its position in shares of Eos Energy Enterprises by 198.6% in the 2nd quarter. Allworth Financial LP now owns 4,300 shares of the company’s stock valued at $25,000 after buying an additional 2,860 shares in the last quarter. Pictet Asset Management Holding SA lifted its holdings in shares of Eos Energy Enterprises by 7.9% during the 1st quarter. Pictet Asset Management Holding SA now owns 52,409 shares of the company’s stock worth $260,000 after acquiring an additional 3,856 shares during the period. Gainplan LLC boosted its position in shares of Eos Energy Enterprises by 22.7% during the 3rd quarter. Gainplan LLC now owns 23,144 shares of the company’s stock worth $71,000 after acquiring an additional 4,284 shares in the last quarter. Finally, Principal Financial Group Inc. increased its stake in Eos Energy Enterprises by 24.1% in the first quarter. Principal Financial Group Inc. now owns 22,634 shares of the company’s stock valued at $112,000 after acquiring an additional 4,402 shares during the last quarter. 54.87% of the stock is owned by institutional investors.

About Eos Energy Enterprises

Eos Energy Enterprises, Inc develops and manufactures long-duration energy storage systems designed to help utilities, renewable energy developers, and commercial and industrial customers store electricity for use when demand is high or renewable generation is unavailable. The company’s technology is based on aqueous zinc battery chemistry, which it markets as a non-lithium alternative for stationary energy storage applications.

Eos’ product portfolio includes the Eos Z3 battery system and related generations of its zinc-based storage technology.