Citizens Financial Group Inc. RI Makes New Investment in Eos Energy Enterprises, Inc. $EOSE

Citizens Financial Group Inc. RI acquired a new stake in shares of Eos Energy Enterprises, Inc. (NASDAQ:EOSE) in the 3rd quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The institutional investor acquired 239,098 shares of the company’s stock, valued at approximately $2,723,000. Citizens Financial Group Inc. RI owned about 0.09% of Eos Energy Enterprises at the end of the most recent quarter.

Other large investors also recently modified their holdings of the company. Farther Finance Advisors LLC raised its position in Eos Energy Enterprises by 33.0% during the 3rd quarter. Farther Finance Advisors LLC now owns 3,325 shares of the company’s stock valued at $38,000 after purchasing an additional 825 shares during the last quarter. CWM LLC raised its holdings in shares of Eos Energy Enterprises by 162.9% during the third quarter. CWM LLC now owns 3,994 shares of the company’s stock valued at $45,000 after acquiring an additional 2,475 shares in the last quarter. Skandinaviska Enskilda Banken AB publ purchased a new stake in Eos Energy Enterprises in the second quarter worth $39,000. Amalgamated Bank bought a new stake in Eos Energy Enterprises in the second quarter valued at $39,000. Finally, Baxter Bros Inc. purchased a new position in Eos Energy Enterprises during the 2nd quarter valued at $51,000. 54.87% of the stock is owned by institutional investors.

Analyst Ratings Changes

EOSE has been the topic of a number of research reports. Weiss Ratings reaffirmed a “sell (d-)” rating on shares of Eos Energy Enterprises in a research note on Wednesday, October 8th. B. Riley lifted their price objective on Eos Energy Enterprises from $8.00 to $12.00 and gave the company a “neutral” rating in a research report on Tuesday, November 11th. Guggenheim upped their target price on Eos Energy Enterprises from $10.00 to $20.00 and gave the stock a “buy” rating in a report on Wednesday, October 22nd. JPMorgan Chase & Co. started coverage on Eos Energy Enterprises in a research note on Wednesday, December 17th. They issued a “neutral” rating and a $16.00 target price for the company. Finally, Zacks Research cut Eos Energy Enterprises from a “hold” rating to a “strong sell” rating in a research note on Wednesday, October 29th. Two investment analysts have rated the stock with a Buy rating, seven have given a Hold rating and two have given a Sell rating to the company’s stock. Based on data from MarketBeat, the company currently has an average rating of “Hold” and an average price target of $12.44.

Eos Energy Enterprises Stock Up 4.3%

EOSE stock opened at $16.82 on Wednesday. The business has a 50 day moving average of $14.04 and a 200 day moving average of $10.77. The firm has a market cap of $4.85 billion, a PE ratio of -2.01 and a beta of 2.11. Eos Energy Enterprises, Inc. has a twelve month low of $3.07 and a twelve month high of $19.86.

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

Insider Activity

In other Eos Energy Enterprises news, Director Marian Walters sold 50,000 shares of Eos Energy Enterprises stock in a transaction dated 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 directly owned 135,334 shares of the company’s stock, valued at approximately $2,139,630.54. The trade was a 26.98% decrease in their ownership of the stock. The sale was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this link. Also, Director Russell Monoki Stidolph sold 500,000 shares of the firm’s stock in a transaction that occurred on Friday, December 5th. The shares were sold at an average price of $14.99, for a total transaction of $7,495,000.00. Following the sale, the director directly owned 2,153,272 shares of the company’s stock, valued at $32,277,547.28. This trade represents a 18.84% decrease in their position. Additional details regarding this sale are available in the official SEC disclosure. Insiders sold 816,134 shares of company stock valued at $12,262,335 over the last ninety days. Corporate insiders own 3.30% of the company’s stock.

Eos Energy Enterprises Company Profile

Eos Energy Enterprises specializes in the development and deployment of scalable, long-duration energy storage systems designed to support the integration of renewable power and enhance grid reliability. The company’s core technology centers on its proprietary zinc hybrid cathode (Znyth™) battery platform, which aims to deliver safe, low-cost, and durable performance for utility, commercial and industrial, and microgrid applications.

The company’s flagship product, the Aurora™ energy storage system, combines its Znyth™ cells with modular power conversion and controls to offer flexible capacity ranging from one to three hours of discharge duration.