Eos Energy Enterprises, Inc. $EOSE Shares Sold by Flputnam Investment Management Co.

Flputnam Investment Management Co. cut its stake in Eos Energy Enterprises, Inc. (NASDAQ:EOSE) by 61.8% during the 4th quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The firm owned 49,386 shares of the company’s stock after selling 79,831 shares during the period. Flputnam Investment Management Co.’s holdings in Eos Energy Enterprises were worth $566,000 as of its most recent SEC filing.

Other large investors have also recently added to or reduced their stakes in the company. PNC Financial Services Group Inc. increased its position in Eos Energy Enterprises by 3,843.8% in the fourth quarter. PNC Financial Services Group Inc. now owns 2,524 shares of the company’s stock worth $29,000 after buying an additional 2,460 shares during the period. Chung Wu Investment Group LLC acquired a new stake in Eos Energy Enterprises in the third quarter worth $30,000. Danske Bank A S acquired a new stake in Eos Energy Enterprises in the fourth quarter worth $33,000. TD Waterhouse Canada Inc. increased its position in Eos Energy Enterprises by 178.7% in the fourth quarter. TD Waterhouse Canada Inc. now owns 3,119 shares of the company’s stock worth $36,000 after buying an additional 2,000 shares during the period. Finally, GAMMA Investing LLC increased its position in Eos Energy Enterprises by 46.4% in the fourth quarter. GAMMA Investing LLC now owns 3,270 shares of the company’s stock worth $37,000 after buying an additional 1,036 shares during the period. 54.87% of the stock is owned by institutional investors and hedge funds.

Wall Street Analyst Weigh In

Several brokerages have weighed in on EOSE. Wall Street Zen raised Eos Energy Enterprises from a “strong sell” rating to a “hold” rating in a research report on Saturday, May 16th. Guggenheim reaffirmed a “neutral” rating and issued a $20.00 target price on shares of Eos Energy Enterprises in a research report on Friday, February 27th. B. Riley Financial dropped their target price on Eos Energy Enterprises from $12.00 to $8.00 and set a “neutral” rating on the stock in a research report on Thursday, March 5th. Roth Mkm dropped their target price on Eos Energy Enterprises from $12.00 to $6.00 and set a “neutral” rating on the stock in a research report on Friday, February 27th. Finally, Weiss Ratings reaffirmed a “sell (d-)” rating on shares of Eos Energy Enterprises in a research report on Tuesday, April 21st. Two analysts have rated the stock with a Buy rating, seven have issued a Hold rating and one has given a Sell rating to the stock. According to MarketBeat, Eos Energy Enterprises has a consensus rating of “Hold” and an average price target of $10.94.

Insider Transactions at Eos Energy Enterprises

In other news, CEO Joe Mastrangelo bought 60,000 shares of the stock in a transaction that occurred on Monday, March 2nd. The shares were purchased at an average cost of $5.75 per share, with a total value of $345,000.00. Following the completion of the acquisition, the chief executive officer directly owned 1,463,226 shares in the company, valued at approximately $8,413,549.50. The trade was a 4.28% increase in their ownership of the stock. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available through the SEC website. Also, Director Alexander Dimitrief bought 15,000 shares of the stock in a transaction that occurred on Monday, March 2nd. The shares were purchased at an average cost of $6.04 per share, for a total transaction of $90,600.00. Following the completion of the acquisition, the director owned 235,221 shares of the company’s stock, valued at $1,420,734.84. This trade represents a 6.81% increase in their ownership of the stock. Additional details regarding this purchase are available in the official SEC disclosure. Insiders bought 115,150 shares of company stock valued at $692,962 in the last three months. 1.73% of the stock is currently owned by insiders.

Eos Energy Enterprises Stock Performance

NASDAQ:EOSE opened at $8.42 on Friday. Eos Energy Enterprises, Inc. has a 1 year low of $3.69 and a 1 year high of $19.86. The stock has a market cap of $2.86 billion, a price-to-earnings ratio of -1.26 and a beta of 2.56. The business has a fifty day moving average of $6.62 and a 200-day moving average of $10.53.

Eos Energy Enterprises (NASDAQ:EOSE) last released 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 business had revenue of $56.96 million during the quarter, compared to the consensus estimate of $54.32 million. On average, equities research analysts predict that Eos Energy Enterprises, Inc. will post -0.8 EPS for the current year.

Eos Energy Enterprises Company 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.