Insider Selling: Eos Energy Enterprises, Inc. (NASDAQ:EOSE) Director Sells $55,997.54 in Stock

Eos Energy Enterprises, Inc. (NASDAQ:EOSE) Director Claude Demby sold 20,143 shares of the stock in a transaction that occurred on Thursday, September 7th. The shares were sold at an average price of $2.78, for a total transaction of $55,997.54. Following the sale, the director now directly owns 62,012 shares in the company, valued at $172,393.36. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available through this hyperlink.

Eos Energy Enterprises Trading Down 1.8 %

Shares of EOSE opened at $2.76 on Monday. The company has a market cap of $369.83 million, a price-to-earnings ratio of -0.74 and a beta of 2.63. Eos Energy Enterprises, Inc. has a 1-year low of $0.95 and a 1-year high of $5.66. The company’s fifty day simple moving average is $3.22 and its 200 day simple moving average is $2.73.

Eos Energy Enterprises (NASDAQ:EOSE) last issued its earnings results on Monday, August 14th. The company reported ($0.60) earnings per share for the quarter, missing analysts’ consensus estimates of ($0.35) by ($0.25). The company had revenue of $0.25 million for the quarter, compared to analyst estimates of $1.52 million. As a group, research analysts forecast that Eos Energy Enterprises, Inc. will post -1.8 earnings per share for the current year.

Hedge Funds Weigh In On Eos Energy Enterprises

A number of institutional investors have recently bought and sold shares of EOSE. Advisor Group Holdings Inc. increased its position in Eos Energy Enterprises by 899.6% during the first quarter. Advisor Group Holdings Inc. now owns 19,662 shares of the company’s stock worth $82,000 after buying an additional 17,695 shares during the last quarter. JPMorgan Chase & Co. increased its holdings in shares of Eos Energy Enterprises by 3,665.1% in the first quarter. JPMorgan Chase & Co. now owns 624,856 shares of the company’s stock valued at $2,612,000 after purchasing an additional 608,260 shares during the last quarter. Bank of Montreal Can acquired a new position in shares of Eos Energy Enterprises in the first quarter valued at $51,000. Healthcare of Ontario Pension Plan Trust Fund acquired a new position in shares of Eos Energy Enterprises in the first quarter valued at $172,000. Finally, BlackRock Inc. increased its holdings in shares of Eos Energy Enterprises by 1.1% in the first quarter. BlackRock Inc. now owns 2,668,119 shares of the company’s stock valued at $11,153,000 after purchasing an additional 27,981 shares during the last quarter. Institutional investors and hedge funds own 65.36% of the company’s stock.

Wall Street Analysts Forecast Growth

Several equities analysts recently issued reports on the company. Seaport Res Ptn reiterated a “buy” rating on shares of Eos Energy Enterprises in a report on Friday, July 28th. Stifel Nicolaus raised their price target on Eos Energy Enterprises from $13.00 to $15.00 and gave the company a “buy” rating in a report on Friday, September 1st. TD Cowen started coverage on Eos Energy Enterprises in a report on Friday, June 2nd. They issued a “market perform” rating and a $2.50 price target on the stock. Guggenheim raised shares of Eos Energy Enterprises from a “neutral” rating to a “buy” rating and set a $10.00 price objective on the stock in a research note on Friday, September 1st. Finally, B. Riley raised their price objective on shares of Eos Energy Enterprises from $4.00 to $5.00 and gave the company a “neutral” rating in a research note on Friday, September 1st. Two equities research analysts have rated the stock with a hold rating and four have assigned a buy rating to the company’s stock. According to data from MarketBeat.com, the stock presently has a consensus rating of “Moderate Buy” and an average target price of $9.90.

About Eos Energy Enterprises

Eos Energy Enterprises, Inc designs, manufactures, and markets zinc-based energy storage solutions for utility, commercial and industrial, and microgrid markets in the United States. The company's flagship product is the Eos Znyth DC system, a battery that can be used as an alternative to Li-ion batteries.