Teacher Retirement System of Texas Takes Position in Eos Energy Enterprises, Inc. (NASDAQ:EOSE)

Teacher Retirement System of Texas purchased a new position in shares of Eos Energy Enterprises, Inc. (NASDAQ:EOSE) during the 1st quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission. The fund purchased 31,847 shares of the company’s stock, valued at approximately $120,000.

Several other hedge funds and other institutional investors have also recently added to or reduced their stakes in the company. Legal & General Group Plc raised its position in shares of 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 worth $23,350,000 after buying an additional 4,796,626 shares in the last quarter. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. bought a new stake in shares of Eos Energy Enterprises in the 4th quarter worth approximately $16,632,000. Alyeska Investment Group L.P. raised its holdings in shares of Eos Energy Enterprises by 714.3% in the 4th quarter. Alyeska Investment Group L.P. now owns 1,628,500 shares of the company’s stock worth $7,915,000 after purchasing an additional 1,428,500 shares in the last quarter. Marshall Wace LLP raised its holdings in shares of Eos Energy Enterprises by 154.6% in the 4th quarter. Marshall Wace LLP now owns 893,818 shares of the company’s stock worth $4,344,000 after purchasing an additional 542,718 shares in the last quarter. Finally, Swiss National Bank bought a new stake in shares of Eos Energy Enterprises in the 4th quarter worth approximately $2,071,000. Hedge funds and other institutional investors own 54.87% of the company’s stock.

Eos Energy Enterprises Stock Up 2.2%

Shares of NASDAQ:EOSE opened at $6.00 on Tuesday. The firm has a market cap of $1.37 billion, a P/E ratio of -1.36 and a beta of 2.01. Eos Energy Enterprises, Inc. has a 12 month low of $1.40 and a 12 month high of $7.36. The company’s 50-day moving average price is $5.04 and its two-hundred day moving average price is $4.90.

Eos Energy Enterprises (NASDAQ:EOSE) last announced its earnings results on Tuesday, May 6th. The company reported ($0.20) EPS for the quarter, missing the consensus estimate of ($0.19) by ($0.01). The business had revenue of $10.46 million for the quarter, compared to analysts’ expectations 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 fiscal year.

Insider Transactions at Eos Energy Enterprises

In related news, General Counsel Michael W. Silberman sold 100,943 shares of the company’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 value of $692,468.98. Following the sale, the general counsel directly owned 161,404 shares in the company, valued at $1,107,231.44. This represents a 38.48% decrease in their ownership of the stock. The sale was disclosed in a legal filing with the SEC, which is available at this hyperlink. Also, CEO Joe Mastrangelo sold 127,152 shares of the company’s stock in a transaction that occurred on Tuesday, July 8th. The shares were sold at an average price of $4.92, for a total value of $625,587.84. Following the completion of the sale, the chief executive officer owned 1,236,560 shares in the company, valued at $6,083,875.20. The trade was a 9.32% decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders sold a total of 758,886 shares of company stock worth $4,827,806 over the last ninety days. Corporate insiders own 3.63% of the company’s stock.

Analyst Ratings Changes

Several research analysts have weighed in on the stock. Stifel Nicolaus dropped their price objective on shares of Eos Energy Enterprises from $9.00 to $8.50 and set a “buy” rating on the stock in a research note on Monday, June 9th. Guggenheim decreased their target price on shares of Eos Energy Enterprises from $7.00 to $6.00 and set a “buy” rating for the company in a research report on Monday, June 2nd. TD Cowen raised shares of Eos Energy Enterprises to a “hold” rating in a research report on Monday, June 23rd. Finally, Wall Street Zen downgraded shares of Eos Energy Enterprises from a “hold” rating to a “sell” rating in a research report on Saturday, July 5th. One investment analyst has rated the stock with a sell rating, four have issued a hold rating and two have issued a buy rating to the company. Based on data from MarketBeat, Eos Energy Enterprises has an average rating of “Hold” and an average target price of $6.50.

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.