Baird Financial Group Inc. Cuts Stock Holdings in Eos Energy Enterprises, Inc. $EOSE

Baird Financial Group Inc. lowered its stake in Eos Energy Enterprises, Inc. (NASDAQ:EOSE) by 25.7% during the 2nd quarter, according to the company in its most recent filing with the Securities & Exchange Commission. The institutional investor owned 997,729 shares of the company’s stock after selling 344,900 shares during the quarter. Baird Financial Group Inc. owned about 0.38% of Eos Energy Enterprises worth $5,108,000 as of its most recent SEC filing.

Several other hedge funds and other institutional investors have also made changes to their positions in EOSE. Skandinaviska Enskilda Banken AB publ bought a new stake in shares of Eos Energy Enterprises in the second quarter worth about $39,000. Amalgamated Bank purchased a new position in Eos Energy Enterprises during the 2nd quarter valued at approximately $39,000. Baxter Bros Inc. bought a new stake in Eos Energy Enterprises in the 2nd quarter worth approximately $51,000. Sfmg LLC bought a new stake in Eos Energy Enterprises in the 2nd quarter worth approximately $52,000. Finally, Elevatus Welath Management purchased a new stake in shares of Eos Energy Enterprises during the 1st quarter worth approximately $39,000. Institutional investors own 54.87% of the company’s stock.

Eos Energy Enterprises Stock Down 3.1%

Shares of NASDAQ:EOSE opened at $14.95 on Wednesday. The business’s 50 day moving average is $14.81 and its 200 day moving average is $9.20. The stock has a market cap of $4.31 billion, a P/E ratio of -1.79 and a beta of 2.15. Eos Energy Enterprises, Inc. has a 52-week low of $2.99 and a 52-week high of $19.86.

Eos Energy Enterprises (NASDAQ:EOSE) last posted its earnings results on Wednesday, November 5th. The company reported ($2.77) earnings per share for the quarter, missing analysts’ consensus estimates of ($0.31) by ($2.46). The business had revenue of $30.51 million during the quarter, compared to the consensus estimate of $39.55 million. On average, sell-side analysts anticipate that Eos Energy Enterprises, Inc. will post -2.54 EPS for the current fiscal year.

Insider Buying and Selling at Eos Energy Enterprises

In other Eos Energy Enterprises news, Director Marian Walters sold 50,000 shares of the firm’s stock in a transaction on Thursday, December 4th. The shares were sold at an average price of $15.81, for a total value of $790,500.00. Following the completion of the transaction, the director owned 135,334 shares of the company’s stock, valued at approximately $2,139,630.54. This trade represents a 26.98% decrease in their ownership of the stock. The transaction was disclosed in a filing with the SEC, which is accessible through the SEC website. Also, Director Russell Monoki Stidolph sold 29,999 shares of the company’s stock in a transaction on Monday, December 8th. The shares were sold at an average price of $15.36, for a total value of $460,784.64. Following the completion of the transaction, the director directly owned 2,123,273 shares in the company, valued at approximately $32,613,473.28. The trade was a 1.39% decrease in their ownership of the stock. Additional details regarding this sale are available in the official SEC disclosure. In the last quarter, insiders have sold 816,134 shares of company stock valued at $12,262,335. Company insiders own 3.30% of the company’s stock.

Analyst Ratings Changes

A number of research analysts recently weighed in on EOSE shares. Stifel Nicolaus raised their target price on shares of Eos Energy Enterprises from $10.00 to $22.00 and gave the company a “buy” rating in a report on Wednesday, October 15th. Zacks Research cut shares of Eos Energy Enterprises from a “hold” rating to a “strong sell” rating in a research note on Wednesday, October 29th. Weiss Ratings restated a “sell (d-)” rating on shares of Eos Energy Enterprises in a report on Wednesday, October 8th. Wall Street Zen downgraded shares of Eos Energy Enterprises from a “hold” rating to a “sell” rating in a report on Saturday, November 8th. Finally, Jefferies Financial Group initiated coverage on Eos Energy Enterprises in a research report on Friday, September 5th. They issued a “hold” rating and a $6.50 price target for the company. Two analysts have rated the stock with a Buy rating, six have issued a Hold rating and two have issued a Sell rating to the stock. According to MarketBeat.com, the company presently has a consensus rating of “Hold” and a consensus price target of $11.93.

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.