Sumeet Puri Sells 43,750 Shares of Eos Energy Enterprises (NASDAQ:EOSE) Stock

Eos Energy Enterprises, Inc. (NASDAQ:EOSE) CAO Sumeet Puri sold 43,750 shares of the company’s stock in a transaction dated Wednesday, September 16th. The shares were sold at an average price of $3.92, for a total transaction of $171,500.00. Following the completion of the sale, the chief accounting officer owned 280,195 shares in the company, valued at approximately $1,098,364.40. This trade represents a 13.51% decrease in their position. The sale was disclosed in a filing with the SEC, which is available at 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.

Sumeet Puri also recently made the following trade(s):

• On Wednesday, September 9th, Sumeet Puri sold 34,167 shares of Eos Energy Enterprises stock. The shares were sold at an average price of $4.13, for a total value of $141,109.71.
• On Tuesday, July 28th, Sumeet Puri sold 29,167 shares of Eos Energy Enterprises stock. The stock was sold at an average price of $3.36, for a total transaction of $98,001.12.
• 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 transaction of $51,702.78.

Eos Energy Enterprises Trading Up 1.3%

Shares of Eos Energy Enterprises stock opened at $3.98 on Friday. The stock has a market capitalization of $1.45 billion, a price-to-earnings ratio of -0.58 and a beta of 2.77. Eos Energy Enterprises, Inc. has a twelve month low of $3.01 and a twelve month high of $19.86. The business’s 50 day simple moving average is $3.83 and its 200-day simple moving average is $5.56.

Eos Energy Enterprises (NASDAQ:EOSE) last issued its quarterly earnings data on Wednesday, August 5th. The company reported ($1.20) earnings per share 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 analysts’ expectations of $68.32 million. During the same quarter in the previous year, the company posted ($1.05) EPS. Sell-side analysts predict that Eos Energy Enterprises, Inc. will post -1.28 earnings per share for the current year.

Hedge Funds Weigh In On Eos Energy Enterprises

Several hedge funds have recently bought and sold shares of EOSE. Sequoia Financial Advisors LLC acquired a new position in Eos Energy Enterprises during the second quarter valued at approximately $117,000. Tidal Investments LLC lifted its stake in shares of Eos Energy Enterprises by 151.0% in the second quarter. Tidal Investments LLC now owns 649,111 shares of the company’s stock worth $3,817,000 after buying an additional 390,461 shares during the last quarter. WINTON GROUP Ltd bought a new stake in shares of Eos Energy Enterprises during the 2nd quarter worth $920,000. Baird Financial Group Inc. boosted its holdings in shares of Eos Energy Enterprises by 9.4% during the 2nd quarter. Baird Financial Group Inc. now owns 863,479 shares of the company’s stock worth $5,077,000 after buying an additional 74,338 shares during the period. Finally, Allworth Financial LP boosted its holdings in shares of Eos Energy Enterprises by 198.6% during the 2nd quarter. Allworth Financial LP now owns 4,300 shares of the company’s stock worth $25,000 after buying an additional 2,860 shares during the period. 54.87% of the stock is owned by institutional investors and hedge funds.

Analyst Ratings Changes

Several equities research analysts have recently commented on the company. TD Cowen reduced their target price on Eos Energy Enterprises from $8.00 to $4.00 and set a “hold” rating for the company in a report on Thursday, August 6th. Wall Street Zen downgraded Eos Energy Enterprises from a “sell” rating to a “strong sell” rating in a report on Saturday, August 8th. Truist Financial began coverage on shares of Eos Energy Enterprises in a research note on Monday, July 13th. They set a “buy” rating and a $7.00 price objective for the company. Weiss Ratings reiterated a “sell (d-)” rating on shares of Eos Energy Enterprises in a report on Friday, July 17th. Finally, Roth Capital lifted their target price on shares of Eos Energy Enterprises from $4.00 to $4.50 and gave the stock a “neutral” rating in a research report on Thursday, September 10th. One equities research analyst has rated the stock with a Strong Buy rating, two have given a Buy rating, six have issued a Hold rating and one has given a Sell rating to the company. Based on data from MarketBeat.com, Eos Energy Enterprises has an average rating of “Hold” and an average target price of $8.19.

Eos Energy Enterprises Company Profile

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.