Eos Energy Enterprises (NASDAQ:EOSE) CEO Joe Mastrangelo Buys 60,000 Shares

Eos Energy Enterprises, Inc. (NASDAQ:EOSE) CEO Joe Mastrangelo bought 60,000 shares of the firm’s stock in a transaction that occurred on Monday, March 2nd. The shares were purchased at an average price of $5.75 per share, for a total transaction of $345,000.00. Following the transaction, the chief executive officer owned 1,463,226 shares of the company’s stock, valued at $8,413,549.50. The trade was a 4.28% increase in their position. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through this link.

Eos Energy Enterprises Trading Up 1.3%

Shares of Eos Energy Enterprises stock traded up $0.08 during trading hours on Tuesday, reaching $5.98. 7,538,909 shares of the company’s stock were exchanged, compared to its average volume of 24,949,029. Eos Energy Enterprises, Inc. has a 52-week low of $3.07 and a 52-week high of $19.86. The company has a fifty day moving average of $13.19 and a 200-day moving average of $12.57. The firm has a market capitalization of $1.72 billion, a price-to-earnings ratio of -0.85 and a beta of 2.13.

Eos Energy Enterprises (NASDAQ:EOSE) last announced its quarterly earnings data on Thursday, February 26th. The company reported ($0.84) EPS for the quarter, missing analysts’ consensus estimates of ($0.20) by ($0.64). The firm had revenue of $58.00 million during the quarter, compared to analyst estimates of $93.36 million. On average, equities research analysts anticipate that Eos Energy Enterprises, Inc. will post -2.54 earnings per share for the current fiscal year.

Wall Street Analyst Weigh In

EOSE has been the subject of several research analyst reports. Roth Mkm dropped their price target on shares of Eos Energy Enterprises from $12.00 to $6.00 and set a “neutral” rating for the company in a research report on Friday. Weiss Ratings restated a “sell (d-)” rating on shares of Eos Energy Enterprises in a report on Thursday, January 22nd. Guggenheim reiterated a “neutral” rating and issued a $20.00 target price on shares of Eos Energy Enterprises in a report on Friday. JPMorgan Chase & Co. assumed coverage on Eos Energy Enterprises in a research report on Wednesday, December 17th. They set a “neutral” rating and a $16.00 price target for the company. Finally, Zacks Research upgraded Eos Energy Enterprises from a “strong sell” rating to a “hold” rating in a report on Monday, January 12th. One equities research analyst has rated the stock with a Buy rating, seven have given a Hold rating and one has assigned a Sell rating to the company’s stock. Based on data from MarketBeat, the company presently has an average rating of “Hold” and a consensus price target of $12.64.

Institutional Investors Weigh In On Eos Energy Enterprises

A number of large investors have recently added to or reduced their stakes in EOSE. Vanguard Group Inc. lifted 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 buying an additional 3,080,012 shares in the last quarter. Rubric Capital Management LP acquired a new stake in shares of Eos Energy Enterprises during the third quarter valued at about $117,317,000. State Street Corp increased its position in shares of Eos Energy Enterprises by 6.1% during the fourth quarter. State Street Corp now owns 7,689,841 shares of the company’s stock worth $88,126,000 after acquiring an additional 443,809 shares during the last quarter. Geode Capital Management LLC increased its position in shares of Eos Energy Enterprises by 16.1% during the fourth quarter. Geode Capital Management LLC now owns 7,205,507 shares of the company’s stock worth $82,587,000 after acquiring an additional 998,332 shares during the last quarter. Finally, Electron Capital Partners LLC lifted its stake in shares of Eos Energy Enterprises by 39.9% in the second quarter. Electron Capital Partners LLC now owns 6,979,422 shares of the company’s stock worth $35,735,000 after acquiring an additional 1,989,144 shares in the last quarter. 54.87% of the stock is owned by institutional investors and hedge funds.

About Eos Energy Enterprises

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.