BNP Paribas Financial Markets Acquires Shares of 261,431 Eos Energy Enterprises, Inc. (NASDAQ:EOSE)

BNP Paribas Financial Markets acquired a new stake in shares of Eos Energy Enterprises, Inc. (NASDAQ:EOSE) in the fourth quarter, according to its most recent 13F filing with the Securities and Exchange Commission. The firm acquired 261,431 shares of the company’s stock, valued at approximately $1,271,000. BNP Paribas Financial Markets owned approximately 0.12% of Eos Energy Enterprises as of its most recent filing with the Securities and Exchange Commission.

A number of other institutional investors and hedge funds have also bought and sold shares of EOSE. Legal & General Group Plc increased its stake in Eos Energy Enterprises by 61,220.5% during the 4th quarter. Legal & General Group Plc now owns 4,804,461 shares of the company’s stock valued at $23,350,000 after purchasing an additional 4,796,626 shares in the last quarter. Alyeska Investment Group L.P. grew its stake in shares of Eos Energy Enterprises by 714.3% in the fourth quarter. Alyeska Investment Group L.P. now owns 1,628,500 shares of the company’s stock worth $7,915,000 after acquiring an additional 1,428,500 shares during the period. Barings LLC grew its stake in shares of Eos Energy Enterprises by 100.5% in the fourth quarter. Barings LLC now owns 2,403,448 shares of the company’s stock worth $11,681,000 after acquiring an additional 1,204,430 shares during the period. Marshall Wace LLP grew its stake in shares of Eos Energy Enterprises by 154.6% in the fourth quarter. Marshall Wace LLP now owns 893,818 shares of the company’s stock worth $4,344,000 after acquiring an additional 542,718 shares during the period. Finally, Swiss National Bank bought a new stake in shares of Eos Energy Enterprises in the fourth quarter worth approximately $2,071,000. 54.87% of the stock is currently owned by institutional investors.

Insider Buying and Selling at Eos Energy Enterprises

In other news, insider Nathan Kroeker sold 152,856 shares of the business’s stock in a transaction on Friday, May 16th. The shares were sold at an average price of $6.86, for a total transaction of $1,048,592.16. Following the completion of the sale, the insider now directly owns 403,815 shares of the company’s stock, valued at approximately $2,770,170.90. The trade was a 27.46% decrease in their ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this link. Also, General Counsel Michael W. Silberman sold 100,943 shares of the business’s stock in a transaction on Friday, May 16th. The shares were sold at an average price of $6.86, for a total transaction of $692,468.98. Following the sale, the general counsel now directly owns 161,404 shares of the company’s stock, valued at $1,107,231.44. This represents a 38.48% decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders have sold 560,356 shares of company stock worth $3,844,042 over the last quarter. Insiders own 3.63% of the company’s stock.

Wall Street Analysts Forecast Growth

EOSE has been the subject of a number of research analyst reports. Guggenheim reiterated a “buy” rating and issued a $7.00 price target on shares of Eos Energy Enterprises in a research note on Tuesday, March 18th. Roth Capital downgraded shares of Eos Energy Enterprises from a “strong-buy” rating to a “hold” rating in a report on Thursday, February 20th. Roth Mkm downgraded shares of Eos Energy Enterprises from a “buy” rating to a “neutral” rating and raised their price objective for the stock from $4.00 to $5.00 in a report on Thursday, February 20th. Finally, Cowen reissued a “hold” rating on shares of Eos Energy Enterprises in a report on Friday, March 7th. Four research analysts have rated the stock with a hold rating and two have issued a buy rating to the company’s stock. According to MarketBeat, the stock has an average rating of “Hold” and a consensus price target of $6.00.

Eos Energy Enterprises Stock Performance

EOSE stock opened at $6.51 on Tuesday. Eos Energy Enterprises, Inc. has a one year low of $0.66 and a one year high of $7.36. The company’s fifty day moving average price is $4.79 and its 200-day moving average price is $4.45. The company has a market capitalization of $1.48 billion, a PE ratio of -2.70 and a beta of 2.11.

Eos Energy Enterprises (NASDAQ:EOSE) last announced its quarterly earnings results on Tuesday, May 6th. The company reported ($0.20) earnings per share for the quarter, missing the consensus estimate of ($0.19) by ($0.01). The company had revenue of $10.46 million for the quarter, compared to the consensus estimate of $11.77 million. On average, research analysts predict that Eos Energy Enterprises, Inc. will post -2.54 EPS for the current fiscal year.

Eos Energy Enterprises Company Profile

Eos Energy Enterprises, Inc designs, manufactures, and markets zinc-based energy storage solutions for utility-scale, microgrid, and commercial and industrial (C&I) applications in the United States. The company offers Znyth technology battery energy storage system (BESS), which provides the operating flexibility to manage increased grid complexity and price volatility.