Eos Energy Enterprises (NASDAQ:EOSE) Director Marian Walters Sells 50,000 Shares of Stock

Eos Energy Enterprises, Inc. (NASDAQ:EOSE) Director Marian Walters sold 50,000 shares of the firm’s stock in a transaction that occurred on Thursday, December 4th. The stock was sold at an average price of $15.81, for a total value of $790,500.00. Following the completion of the sale, the director directly owned 135,334 shares in the company, valued at approximately $2,139,630.54. This trade represents a 26.98% decrease in their position. The sale was disclosed in a legal filing with the SEC, which is accessible through this hyperlink.

Eos Energy Enterprises Price Performance

Shares of EOSE opened at $15.43 on Tuesday. Eos Energy Enterprises, Inc. has a 12 month low of $2.99 and a 12 month high of $19.86. The stock has a fifty day moving average price of $14.74 and a 200 day moving average price of $9.14. The company has a market cap of $4.45 billion, a P/E ratio of -1.85 and a beta of 2.15.

Eos Energy Enterprises (NASDAQ:EOSE) last announced its quarterly earnings results on Wednesday, November 5th. The company reported ($2.77) earnings per share (EPS) for the quarter, missing the consensus estimate of ($0.31) by ($2.46). The firm had revenue of $30.51 million for the quarter, compared to the consensus estimate of $39.55 million. As a group, research analysts anticipate that Eos Energy Enterprises, Inc. will post -2.54 earnings per share for the current year.

Hedge Funds Weigh In On Eos Energy Enterprises

A number of institutional investors and hedge funds have recently added to or reduced their stakes in the company. Chung Wu Investment Group LLC bought a new position in Eos Energy Enterprises during the third quarter valued at about $30,000. Farther Finance Advisors LLC lifted its holdings in Eos Energy Enterprises by 33.0% in the 3rd quarter. Farther Finance Advisors LLC now owns 3,325 shares of the company’s stock valued at $38,000 after acquiring an additional 825 shares during the last quarter. Elevatus Welath Management bought a new position in shares of Eos Energy Enterprises during the 1st quarter valued at about $39,000. Amalgamated Bank bought a new position in shares of Eos Energy Enterprises during the 2nd quarter valued at about $39,000. Finally, Skandinaviska Enskilda Banken AB publ acquired a new position in shares of Eos Energy Enterprises in the 2nd quarter worth approximately $39,000. 54.87% of the stock is owned by institutional investors.

Wall Street Analysts Forecast Growth

Several research analysts have commented on the stock. B. Riley upped their target price on shares of Eos Energy Enterprises from $8.00 to $12.00 and gave the stock a “neutral” rating in a research report on Tuesday, November 11th. Zacks Research lowered Eos Energy Enterprises from a “hold” rating to a “strong sell” rating in a report on Wednesday, October 29th. Jefferies Financial Group assumed coverage on Eos Energy Enterprises in a research note on Friday, September 5th. They set a “hold” rating and a $6.50 target price on the stock. Stifel Nicolaus boosted their price target on Eos Energy Enterprises from $10.00 to $22.00 and gave the stock a “buy” rating in a research report on Wednesday, October 15th. Finally, Roth Capital set a $12.00 price objective on shares of Eos Energy Enterprises and gave the company a “neutral” rating in a research note on Wednesday, October 22nd. Two equities research analysts have rated the stock with a Buy rating, six have assigned a Hold rating and two have given a Sell rating to the company’s stock. According to MarketBeat, the company currently has an average 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.