American International Group Inc. Makes New $225,000 Investment in Eos Energy Enterprises, Inc. (NASDAQ:EOSE)

American International Group Inc. purchased a new position in shares of Eos Energy Enterprises, Inc. (NASDAQ:EOSE) during the second quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The firm purchased 51,805 shares of the company’s stock, valued at approximately $225,000.

A number of other large investors also recently bought and sold shares of the stock. Bank of New York Mellon Corp raised its stake in Eos Energy Enterprises by 84.6% during the second quarter. Bank of New York Mellon Corp now owns 567,378 shares of the company’s stock worth $2,462,000 after purchasing an additional 259,963 shares during the period. Psagot Value Holdings Ltd. Israel acquired a new stake in shares of Eos Energy Enterprises in the second quarter worth $413,000. Cookson Peirce & Co. Inc. acquired a new stake in shares of Eos Energy Enterprises in the second quarter worth $304,000. Daiwa Securities Group Inc. acquired a new stake in shares of Eos Energy Enterprises in the second quarter worth $131,000. Finally, Victory Capital Management Inc. acquired a new stake in shares of Eos Energy Enterprises in the second quarter worth $52,000. Hedge funds and other institutional investors own 65.36% of the company’s stock.

Analysts Set New Price Targets

Several research firms have recently issued reports on EOSE. Guggenheim raised shares of Eos Energy Enterprises from a “neutral” rating to a “buy” rating and set a $10.00 price objective for the company in a research report on Friday, September 1st. B. Riley dropped their price objective on shares of Eos Energy Enterprises from $5.00 to $2.00 and set a “neutral” rating for the company in a research report on Wednesday, November 8th. Stifel Nicolaus increased their price objective on shares of Eos Energy Enterprises from $13.00 to $15.00 and gave the stock a “buy” rating in a research report on Friday, September 1st. Seaport Res Ptn reaffirmed a “buy” rating on shares of Eos Energy Enterprises in a report on Friday, July 28th. Finally, Evercore ISI raised their price target on shares of Eos Energy Enterprises from $4.00 to $17.00 and gave the company an “outperform” rating in a report on Friday, September 8th. Two investment analysts have rated the stock with a hold rating and four have given a buy rating to the company’s stock. Based on data from MarketBeat, Eos Energy Enterprises currently has a consensus rating of “Moderate Buy” and an average target price of $9.30.

Eos Energy Enterprises Trading Down 1.7 %

EOSE opened at $1.15 on Tuesday. Eos Energy Enterprises, Inc. has a twelve month low of $0.96 and a twelve month high of $5.67. The firm has a market cap of $154.09 million, a price-to-earnings ratio of -0.43 and a beta of 2.80. The company has a fifty day simple moving average of $1.87 and a 200 day simple moving average of $2.61.

Insider Buying and Selling at Eos Energy Enterprises

In other Eos Energy Enterprises news, Director Claude Demby sold 20,143 shares of the stock in a transaction 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 transaction, the director now directly owns 62,012 shares in the company, valued at approximately $172,393.36. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available at this hyperlink. In other Eos Energy Enterprises news, Director Claude Demby sold 20,143 shares of the firm’s stock in a transaction dated Thursday, September 7th. The shares were sold at an average price of $2.78, for a total transaction of $55,997.54. Following the transaction, the director now owns 62,012 shares of the company’s stock, valued at approximately $172,393.36. The transaction was disclosed in a filing with the SEC, which can be accessed through this link. Also, CEO Joe Mastrangelo bought 36,500 shares of the stock in a transaction on Thursday, September 21st. The shares were bought at an average cost of $2.05 per share, for a total transaction of $74,825.00. Following the purchase, the chief executive officer now owns 590,799 shares in the company, valued at approximately $1,211,137.95. The disclosure for this purchase can be found here. 7.09% of the stock is currently owned by insiders.

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.