Nathan Kroeker Sells 35,289 Shares of Eos Energy Enterprises (NASDAQ:EOSE) Stock

Eos Energy Enterprises, Inc. (NASDAQ:EOSE) CFO Nathan Kroeker sold 35,289 shares of the business’s stock in a transaction on Tuesday, June 30th. The shares were sold at an average price of $5.86, for a total transaction of $206,793.54. Following the sale, the chief financial officer directly owned 697,801 shares of the company’s stock, valued at $4,089,113.86. This represents a 4.81% decrease in their ownership of the stock. The sale was disclosed in a document filed with the SEC, which is accessible through this hyperlink. 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 Down 3.3%

EOSE stock traded down $0.20 during trading on Tuesday, hitting $5.89. The company had a trading volume of 33,894,379 shares, compared to its average volume of 25,161,453. The firm has a market capitalization of $2.00 billion, a P/E ratio of -0.88 and a beta of 2.62. Eos Energy Enterprises, Inc. has a 52-week low of $4.37 and a 52-week high of $19.86. The company has a 50 day simple moving average of $7.32 and a 200-day simple moving average of $9.40.

Eos Energy Enterprises (NASDAQ:EOSE) last announced its quarterly earnings data on Wednesday, May 13th. The company reported $0.12 earnings per share for the quarter, beating analysts’ consensus estimates of ($0.22) by $0.34. The company had revenue of $56.96 million for the quarter, compared to the consensus estimate of $54.32 million. Sell-side analysts forecast that Eos Energy Enterprises, Inc. will post -0.31 earnings per share for the current year.

Analysts Set New Price Targets

Several research firms have recently weighed in on EOSE. Weiss Ratings reaffirmed a “sell (d-)” rating on shares of Eos Energy Enterprises in a research note on Tuesday, April 21st. JPMorgan Chase & Co. reduced their price objective on Eos Energy Enterprises from $9.00 to $6.00 and set a “neutral” rating on the stock in a report on Thursday, April 16th. Needham & Company LLC assumed coverage on Eos Energy Enterprises in a report on Friday, May 22nd. They set a “buy” rating and a $11.00 price objective on the stock. TD Cowen lifted their target price on Eos Energy Enterprises from $7.00 to $8.00 and gave the company a “hold” rating in a research report on Thursday, May 14th. Finally, B. Riley Financial lowered their target price on Eos Energy Enterprises from $12.00 to $8.00 and set a “neutral” rating for the company in a report on Thursday, March 5th. Two research analysts have rated the stock with a Buy rating, seven have assigned a Hold rating and one has issued a Sell rating to the company. According to MarketBeat.com, the stock has an average rating of “Hold” and a consensus price target of $10.94.

Institutional Investors Weigh In On Eos Energy Enterprises

Several large investors have recently modified their holdings of EOSE. Rubric Capital Management LP purchased a new stake in shares of Eos Energy Enterprises in the 3rd quarter worth approximately $117,317,000. Vanguard Group Inc. raised its stake in Eos Energy Enterprises by 19.8% in the fourth 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. Engineers Gate Manager LP bought a new position in Eos Energy Enterprises in the second quarter worth approximately $11,840,000. Vaughan Nelson Investment Management L.P. purchased a new stake in Eos Energy Enterprises during the fourth quarter worth $22,330,000. Finally, Renaissance Technologies LLC purchased a new stake in Eos Energy Enterprises during the first quarter worth $9,152,000. Institutional investors own 54.87% of the company’s stock.

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.