Scientech Research LLC Invests $36,000 in Eos Energy Enterprises, Inc. (NASDAQ:EOSE)

Scientech Research LLC bought a new stake in Eos Energy Enterprises, Inc. (NASDAQ:EOSE) during the second quarter, Holdings Channel reports. The firm bought 28,710 shares of the company’s stock, valued at approximately $36,000.

A number of other institutional investors and hedge funds have also recently bought and sold shares of the company. Millennium Management LLC increased 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 worth $4,018,000 after purchasing an additional 3,109,880 shares during the period. Point72 Asia Singapore Pte. Ltd. acquired a new stake in Eos Energy Enterprises in the 2nd quarter valued at approximately $216,000. Cubist Systematic Strategies LLC grew its holdings in Eos Energy Enterprises by 138,544.3% in the 2nd quarter. Cubist Systematic Strategies LLC now owns 134,485 shares of the company’s stock valued at $171,000 after buying an additional 134,388 shares during the last quarter. Point72 DIFC Ltd bought a new position in Eos Energy Enterprises in the 2nd quarter worth approximately $83,000. Finally, Ground Swell Capital LLC acquired a new position in shares of Eos Energy Enterprises during the second quarter worth approximately $34,000. Institutional investors and hedge funds own 54.87% of the company’s stock.

Eos Energy Enterprises Price Performance

Shares of EOSE stock opened at $2.89 on Wednesday. The stock’s fifty day simple moving average is $2.21 and its 200 day simple moving average is $1.45. Eos Energy Enterprises, Inc. has a one year low of $0.61 and a one year high of $3.07. The firm has a market cap of $601.49 million, a price-to-earnings ratio of -1.85 and a beta of 2.39.

Eos Energy Enterprises (NASDAQ:EOSE) last posted its quarterly earnings data 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 during the quarter, compared to analysts’ expectations of $4.38 million. On average, research analysts anticipate that Eos Energy Enterprises, Inc. will post -0.78 earnings per share for the current year.

Analysts Set New Price Targets

Several equities research analysts have recently issued reports on EOSE shares. B. Riley upgraded shares of Eos Energy Enterprises to a “hold” rating in a research note on Tuesday, June 25th. Stifel Nicolaus restated a “buy” rating and set a $6.00 price objective on shares of Eos Energy Enterprises in a report on Wednesday, August 21st. Finally, Roth Mkm reiterated a “buy” rating and issued a $4.50 price objective on shares of Eos Energy Enterprises in a research report on Friday, June 28th. Two research analysts have rated the stock with a hold rating and five have issued a buy rating to the stock. Based on data from MarketBeat, Eos Energy Enterprises presently has an average rating of “Moderate Buy” and a consensus price target of $3.67.

Insider Buying and Selling

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 transaction of $78,600.00. Following the transaction, the director now directly owns 84,929 shares in the company, valued at approximately $222,513.98. The transaction was disclosed in a filing with the SEC, which is accessible through the SEC website. In related news, CEO Joe Mastrangelo acquired 52,800 shares of the company’s stock in a transaction that occurred on Friday, August 9th. The stock was acquired at an average price of $1.43 per share, for a total transaction of $75,504.00. Following the completion of the acquisition, the chief executive officer now owns 909,793 shares of the company’s stock, valued at approximately $1,301,003.99. The purchase was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through this hyperlink. Also, Director Jeffrey S. Bornstein sold 30,000 shares of the firm’s stock in a transaction dated Thursday, September 12th. The stock was sold at an average price of $2.62, for a total value of $78,600.00. Following the transaction, the director now owns 84,929 shares in the company, valued at approximately $222,513.98. The disclosure for this sale can be found here. Corporate insiders own 4.06% of the company’s stock.

Eos Energy Enterprises Company Profile

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.