Insider Selling: Eos Energy Enterprises (NASDAQ:EOSE) Insider Sells $739,172.58 in Stock

Eos Energy Enterprises, Inc. (NASDAQ:EOSE) insider Michael Silberman sold 41,667 shares of the business’s stock in a transaction dated Friday, January 23rd. The shares were sold at an average price of $17.74, for a total value of $739,172.58. Following the completion of the transaction, the insider directly owned 283,279 shares in the company, valued at $5,025,369.46. This represents a 12.82% decrease in their ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this hyperlink.

Eos Energy Enterprises Price Performance

NASDAQ EOSE opened at $17.11 on Monday. The business has a 50 day simple moving average of $14.17 and a 200 day simple moving average of $11.47. Eos Energy Enterprises, Inc. has a one year low of $3.07 and a one year high of $19.86. The stock has a market capitalization of $4.93 billion, a P/E ratio of -2.05 and a beta of 2.11.

Eos Energy Enterprises (NASDAQ:EOSE) last issued 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 business had revenue of $30.51 million during the quarter, compared to analysts’ expectations of $39.55 million. Equities analysts expect that Eos Energy Enterprises, Inc. will post -2.54 earnings per share for the current year.

Institutional Investors Weigh In On Eos Energy Enterprises

Institutional investors have recently bought and sold shares of the stock. Chung Wu Investment Group LLC bought a new position in Eos Energy Enterprises during the 3rd quarter valued at $30,000. GAMMA Investing LLC lifted its position in shares of Eos Energy Enterprises by 46.4% during the fourth quarter. GAMMA Investing LLC now owns 3,270 shares of the company’s stock valued at $37,000 after purchasing an additional 1,036 shares in the last quarter. Farther Finance Advisors LLC boosted its holdings in Eos Energy Enterprises by 33.0% during the third quarter. Farther Finance Advisors LLC now owns 3,325 shares of the company’s stock worth $38,000 after purchasing an additional 825 shares during the last quarter. Amalgamated Bank purchased a new position in Eos Energy Enterprises during the second quarter worth about $39,000. Finally, Skandinaviska Enskilda Banken AB publ bought a new stake in Eos Energy Enterprises in the 2nd quarter worth about $39,000. Institutional investors own 54.87% of the company’s stock.

Analysts Set New Price Targets

Several equities analysts have recently weighed in on EOSE shares. Wall Street Zen lowered shares of Eos Energy Enterprises from a “hold” rating to a “sell” rating in a report on Saturday, November 8th. Roth Mkm set a $12.00 target price on Eos Energy Enterprises and gave the company a “neutral” rating in a research report on Wednesday, October 22nd. Guggenheim upped their price target on Eos Energy Enterprises from $10.00 to $20.00 and gave the stock a “buy” rating in a research note 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 price objective for the company. Finally, Stifel Nicolaus boosted their price objective on Eos Energy Enterprises from $10.00 to $22.00 and gave the company a “buy” rating in a report on Wednesday, October 15th. Two analysts have rated the stock with a Buy rating, six have issued a Hold rating and one has assigned a Sell rating to the stock. According to MarketBeat, the stock currently has a consensus rating of “Hold” and a consensus target price of $13.50.

About Eos Energy Enterprises

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.