Northern Trust Corp Boosts Stock Position in Eos Energy Enterprises, Inc. (NASDAQ:EOSE)

Northern Trust Corp boosted its holdings in shares of Eos Energy Enterprises, Inc. (NASDAQ:EOSE) by 15.9% during the 4th quarter, according to its most recent 13F filing with the Securities & Exchange Commission. The fund owned 520,680 shares of the company’s stock after purchasing an additional 71,597 shares during the quarter. Northern Trust Corp owned approximately 0.24% of Eos Energy Enterprises worth $2,531,000 at the end of the most recent quarter.

Other hedge funds and other institutional investors also recently bought and sold shares of the company. Arizona State Retirement System purchased a new stake in Eos Energy Enterprises during the 4th quarter worth approximately $305,000. FourThought Financial Partners LLC purchased a new stake in Eos Energy Enterprises during the 4th quarter worth approximately $1,335,000. Raymond James Financial Inc. purchased a new stake in Eos Energy Enterprises during the 4th quarter worth approximately $315,000. Swiss National Bank purchased a new stake in Eos Energy Enterprises during the 4th quarter worth approximately $2,071,000. Finally, Barings LLC increased its holdings in Eos Energy Enterprises by 100.5% during the 4th quarter. Barings LLC now owns 2,403,448 shares of the company’s stock worth $11,681,000 after purchasing an additional 1,204,430 shares during the last quarter. 54.87% of the stock is currently owned by hedge funds and other institutional investors.

Eos Energy Enterprises Trading Up 6.3%

Shares of NASDAQ EOSE opened at $6.38 on Friday. Eos Energy Enterprises, Inc. has a twelve month low of $0.66 and a twelve month high of $7.36. The company has a market capitalization of $1.45 billion, a price-to-earnings ratio of -2.65 and a beta of 2.11. The business has a 50 day simple moving average of $4.96 and a 200-day simple moving average of $4.53.

Eos Energy Enterprises (NASDAQ:EOSE) last released its quarterly earnings data on Tuesday, May 6th. The company reported ($0.20) earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of ($0.19) by ($0.01). The company had revenue of $10.46 million during the quarter, compared to analyst estimates of $11.77 million. As a group, equities analysts predict that Eos Energy Enterprises, Inc. will post -2.54 earnings per share for the current year.

Insider Activity at Eos Energy Enterprises

In related news, General Counsel Michael W. Silberman sold 100,943 shares of the business’s stock in a transaction that occurred on Friday, May 16th. The stock was sold at an average price of $6.86, for a total transaction of $692,468.98. Following the completion of the transaction, the general counsel now owns 161,404 shares in the company, valued at $1,107,231.44. The trade was a 38.48% decrease in their position. The transaction was disclosed in a document filed with the SEC, which is available through this hyperlink. Also, insider Nathan Kroeker sold 152,856 shares of the business’s stock in a transaction that occurred on Friday, May 16th. The shares were sold at an average price of $6.86, for a total value of $1,048,592.16. Following the transaction, the insider now owns 403,815 shares of the company’s stock, valued at $2,770,170.90. This represents a 27.46% decrease in their position. The disclosure for this sale can be found here. Insiders sold 560,356 shares of company stock worth $3,844,042 in the last 90 days. 3.63% of the stock is currently owned by company insiders.

Analyst Upgrades and Downgrades

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

About Eos Energy Enterprises

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.