1,845,231 Shares in Eos Energy Enterprises, Inc. $EOSE Acquired by Renaissance Technologies LLC

Renaissance Technologies LLC bought a new position in shares of Eos Energy Enterprises, Inc. (NASDAQ:EOSE) in the first quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The institutional investor bought 1,845,231 shares of the company’s stock, valued at approximately $9,152,000.

Several other hedge funds and other institutional investors also recently added to or reduced their stakes in EOSE. Rubric Capital Management LP bought a new stake in shares of Eos Energy Enterprises during the 3rd quarter worth $117,317,000. Vanguard Group Inc. raised its holdings in Eos Energy Enterprises by 19.8% in the 4th quarter. Vanguard Group Inc. now owns 18,616,874 shares of the company’s stock worth $213,349,000 after acquiring an additional 3,080,012 shares during the period. Engineers Gate Manager LP acquired a new position in Eos Energy Enterprises during the 2nd quarter worth $11,840,000. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. acquired a new position in Eos Energy Enterprises during the 3rd quarter worth $18,142,000. Finally, HRT Financial LP boosted its holdings in Eos Energy Enterprises by 246.7% during the fourth quarter. HRT Financial LP now owns 1,974,160 shares of the company’s stock valued at $22,623,000 after acquiring an additional 1,404,706 shares during the period. Institutional investors and hedge funds own 54.87% of the company’s stock.

Eos Energy Enterprises Stock Performance

Shares of NASDAQ:EOSE opened at $3.38 on Monday. The business has a fifty day moving average of $5.85 and a 200-day moving average of $7.89. Eos Energy Enterprises, Inc. has a twelve month low of $3.11 and a twelve month high of $19.86. The firm has a market cap of $1.15 billion, a PE ratio of -0.51 and a beta of 2.75.

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

Insider Buying and Selling

In other news, insider Michelle Buczkowski sold 11,469 shares of the company’s stock in a transaction that occurred on Tuesday, June 30th. The shares were sold at an average price of $5.87, for a total transaction of $67,323.03. Following the transaction, the insider directly owned 59,242 shares in the company, valued at approximately $347,750.54. This represents a 16.22% decrease in their ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through 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. Also, CEO Joe Mastrangelo sold 159,154 shares of the firm’s stock in a transaction that occurred on Monday, July 27th. The shares were sold at an average price of $3.61, for a total transaction of $574,545.94. Following the completion of the sale, the chief executive officer directly owned 1,947,586 shares of the company’s stock, valued at approximately $7,030,785.46. This represents a 7.55% decrease in their position. Additional details regarding this sale are available in the official SEC disclosure. In the last 90 days, insiders sold 456,307 shares of company stock valued at $1,882,877. Insiders own 1.73% of the company’s stock.

Analysts Set New Price Targets

Several equities research analysts have recently issued reports on the company. Wall Street Zen downgraded Eos Energy Enterprises from a “hold” rating to a “sell” rating in a research report on Saturday, July 4th. Truist Financial initiated coverage on Eos Energy Enterprises in a research note on Monday, July 13th. They set a “buy” rating and a $7.00 target price for the company. Zacks Research raised Eos Energy Enterprises from a “strong sell” rating to a “hold” rating in a report on Tuesday, April 28th. Weiss Ratings reaffirmed a “sell (d-)” rating on shares of Eos Energy Enterprises in a research report on Friday, July 17th. Finally, Stifel Nicolaus cut their price target 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. One equities research analyst has rated the stock with a Strong Buy rating, two have given a Buy rating, seven have given a Hold rating and one has assigned a Sell rating to the company. According to MarketBeat, the stock currently has a consensus rating of “Hold” and a consensus price target of $9.17.

Eos Energy Enterprises Profile

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.