Eos Energy Enterprises (NASDAQ:EOSE) CFO Nathan Kroeker Sells 79,309 Shares of Stock

Eos Energy Enterprises, Inc. (NASDAQ:EOSE) CFO Nathan Kroeker sold 79,309 shares of the firm’s stock in a transaction dated Tuesday, July 7th. The shares were sold at an average price of $4.68, for a total transaction of $371,166.12. Following the completion of the transaction, the chief financial officer directly owned 777,110 shares in the company, valued at approximately $3,636,874.80. This represents a 9.26% decrease in their ownership of the stock. The transaction 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.

Nathan Kroeker also recently made the following trade(s):

• On Tuesday, June 30th, Nathan Kroeker sold 35,289 shares of Eos Energy Enterprises stock. The stock was sold at an average price of $5.86, for a total transaction of $206,793.54.

Eos Energy Enterprises Trading Down 6.5%

NASDAQ EOSE opened at $4.73 on Wednesday. The firm’s 50 day simple moving average is $7.09 and its 200 day simple moving average is $9.02. The firm has a market capitalization of $1.61 billion, a price-to-earnings ratio of -0.71 and a beta of 2.68. Eos Energy Enterprises, Inc. has a 1 year low of $4.37 and a 1 year high of $19.86.

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

Analyst Ratings Changes

A number of research analysts have issued reports on EOSE shares. Needham & Company LLC started coverage on Eos Energy Enterprises in a research report on Friday, May 22nd. They issued a “buy” rating and a $11.00 target price on the stock. TD Cowen increased their target price on shares of Eos Energy Enterprises from $7.00 to $8.00 and gave the stock a “hold” rating in a report on Thursday, May 14th. Wall Street Zen downgraded shares of Eos Energy Enterprises from a “hold” rating to a “sell” rating in a research note on Saturday. Zacks Research raised shares of Eos Energy Enterprises from a “strong sell” rating to a “hold” rating in a report on Tuesday, April 28th. Finally, JPMorgan Chase & Co. lowered their price objective on shares of Eos Energy Enterprises from $9.00 to $6.00 and set a “neutral” rating for the company in a research report on Thursday, April 16th. Two investment analysts have rated the stock with a Buy rating, seven have given a Hold rating and one has issued a Sell rating to the stock. According to MarketBeat, the company currently has a consensus rating of “Hold” and a consensus target price of $10.94.

Institutional Investors Weigh In On Eos Energy Enterprises

A number of institutional investors have recently added to or reduced their stakes in EOSE. State of New Jersey Common Pension Fund D acquired a new stake in Eos Energy Enterprises in the fourth quarter valued at $1,834,000. Baker Avenue Asset Management LP acquired a new position in Eos Energy Enterprises during the 4th quarter worth about $11,542,000. Vanguard Group Inc. lifted its stake in shares of 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 acquiring an additional 3,080,012 shares during the period. Park Avenue Securities LLC bought a new stake in Eos Energy Enterprises in the fourth quarter valued at approximately $4,307,000. Finally, Vaughan Nelson Investment Management L.P. bought a new stake in Eos Energy Enterprises in the fourth quarter valued at approximately $22,330,000. 54.87% of the stock is owned by institutional investors.

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.