Insider Selling: Eos Energy Enterprises (NASDAQ:EOSE) Insider Sells $100,000.00 in Stock

Eos Energy Enterprises, Inc. (NASDAQ:EOSE) insider Michelle Buczkowski sold 50,000 shares of the firm’s stock in a transaction on Thursday, October 29th. The shares were sold at an average price of $2.00, for a total transaction of $100,000.00. Following the completion of the transaction, the insider directly owned 111,827 shares of the company’s stock, valued at approximately $223,654. The trade was a 30.90% 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.

Eos Energy Enterprises Stock Performance

Eos Energy Enterprises stock traded up $0.03 during mid-day trading on Thursday, hitting $1.98. 24,120,394 shares of the company traded hands, compared to its average volume of 26,046,982. Eos Energy Enterprises, Inc. has a one year low of $1.59 and a one year high of $19.86. The stock has a market cap of $721.06 million, a price-to-earnings ratio of -0.29 and a beta of 2.88. The stock has a fifty day moving average price of $3.09 and a 200-day moving average price of $6.50.

Eos Energy Enterprises (NASDAQ:EOSE) last posted 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 business 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 business earned ($1.05) earnings per share. Sell-side analysts predict that Eos Energy Enterprises, Inc. will post -1.28 EPS for the current year.

Analyst Upgrades and Downgrades

Several equities research analysts recently weighed in on the stock. Weiss Ratings reissued a “sell (d-)” rating on shares of Eos Energy Enterprises in a research report on Thursday, October 15th. Truist Financial began coverage on shares of Eos Energy Enterprises in a research note on Monday, July 13th. They issued a “buy” rating and a $7.00 price objective on the stock. B. Riley Financial dropped their price objective on shares of Eos Energy Enterprises from $8.00 to $5.00 and set a “neutral” rating on the stock in a report on Friday, August 14th. Roth Capital upped their target price 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. Finally, TD Cowen raised Eos Energy Enterprises to a “hold” rating in a research note on Monday, October 5th. One analyst has rated the stock with a Strong Buy rating, two have given a Buy rating, six have assigned a Hold rating and one has given a Sell rating to the company’s stock. Based on data from MarketBeat.com, Eos Energy Enterprises currently has a consensus rating of “Hold” and an average target price of $7.69.

Hedge Funds Weigh In On Eos Energy Enterprises

Large investors have recently bought and sold shares of the business. Allworth Financial LP raised its stake 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. PNC Financial Services Group Inc. raised its position in Eos Energy Enterprises by 279.4% during the first quarter. PNC Financial Services Group Inc. now owns 9,577 shares of the company’s stock worth $48,000 after acquiring an additional 7,053 shares during the period. Nykredit A S acquired a new position in Eos Energy Enterprises during the second quarter worth $60,000. Sax Wealth Advisors LLC purchased a new position in Eos Energy Enterprises during the third quarter valued at $31,000. Finally, Abel Hall LLC acquired a new stake in Eos Energy Enterprises in the 1st quarter worth about $56,000. Institutional investors own 54.87% of the company’s stock.

Eos Energy Enterprises Company Profile

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.