Flputnam Investment Management Co. Decreases Stock Position in Eos Energy Enterprises, Inc. $EOSE

Flputnam Investment Management Co. lessened its stake in Eos Energy Enterprises, Inc. (NASDAQ:EOSE) by 61.8% in the fourth quarter, according to the company in its most recent 13F filing with the Securities & Exchange Commission. The firm owned 49,386 shares of the company’s stock after selling 79,831 shares during the quarter. Flputnam Investment Management Co.’s holdings in Eos Energy Enterprises were worth $566,000 at the end of the most recent reporting period.

Other institutional investors and hedge funds have also recently bought and sold shares of the company. L.K. Benson & Company P.C. purchased a new position in Eos Energy Enterprises in the 3rd quarter worth approximately $887,000. State of New Jersey Common Pension Fund D purchased a new position in Eos Energy Enterprises in the 4th quarter worth approximately $1,834,000. Vanguard Group Inc. boosted its holdings in Eos Energy Enterprises by 19.8% in the 4th quarter. Vanguard Group Inc. now owns 18,616,874 shares of the company’s stock worth $213,349,000 after acquiring an additional 3,080,012 shares during the period. DNB Asset Management AS boosted its holdings in Eos Energy Enterprises by 22.4% in the 3rd quarter. DNB Asset Management AS now owns 1,034,086 shares of the company’s stock worth $11,778,000 after acquiring an additional 189,039 shares during the period. Finally, Park Avenue Securities LLC purchased a new position in Eos Energy Enterprises in the 4th quarter worth approximately $4,307,000. Hedge funds and other institutional investors own 54.87% of the company’s stock.

Eos Energy Enterprises Trading Down 6.4%

EOSE stock opened at $8.42 on Friday. The firm has a market cap of $2.86 billion, a P/E ratio of -1.26 and a beta of 2.56. Eos Energy Enterprises, Inc. has a 12-month low of $3.69 and a 12-month high of $19.86. The stock’s 50 day simple moving average is $6.62 and its 200 day simple moving average is $10.53.

Eos Energy Enterprises (NASDAQ:EOSE) last posted its quarterly earnings results on Wednesday, May 13th. The company reported $0.12 earnings per share (EPS) for the quarter, beating the consensus estimate of ($0.22) by $0.34. The firm had revenue of $56.96 million for the quarter, compared to analyst estimates of $54.32 million. On average, research analysts forecast that Eos Energy Enterprises, Inc. will post -0.8 EPS for the current fiscal year.

Analyst Upgrades and Downgrades

EOSE has been the subject of a number of analyst reports. Roth Mkm decreased their price target on Eos Energy Enterprises from $12.00 to $6.00 and set a “neutral” rating for the company in a report on Friday, February 27th. Wall Street Zen raised Eos Energy Enterprises from a “strong sell” rating to a “hold” rating in a research report on Saturday, May 16th. JPMorgan Chase & Co. cut their target price on Eos Energy Enterprises from $9.00 to $6.00 and set a “neutral” rating on the stock in a research report on Thursday, April 16th. Zacks Research raised Eos Energy Enterprises from a “strong sell” rating to a “hold” rating in a research report on Tuesday, April 28th. Finally, B. Riley Financial cut their target price on Eos Energy Enterprises from $12.00 to $8.00 and set a “neutral” rating on the stock in a research report on Thursday, March 5th. Two equities research analysts have rated the stock with a Buy rating, seven have issued a Hold rating and one has assigned a Sell rating to the company’s stock. Based on data from MarketBeat.com, the stock presently has a consensus rating of “Hold” and a consensus target price of $10.94.

Insider Transactions at Eos Energy Enterprises

In other news, Director David Urban purchased 16,250 shares of the company’s stock in a transaction that occurred on Monday, March 9th. The shares were acquired at an average cost of $6.16 per share, with a total value of $100,100.00. Following the transaction, the director owned 62,471 shares in the company, valued at approximately $384,821.36. The trade was a 35.16% increase in their position. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this link. Also, Director Alexander Dimitrief purchased 15,000 shares of the company’s stock in a transaction that occurred on Monday, March 2nd. The shares were purchased at an average cost of $6.04 per share, for a total transaction of $90,600.00. Following the completion of the transaction, the director owned 235,221 shares in the company, valued at approximately $1,420,734.84. This represents a 6.81% increase in their position. Additional details regarding this purchase are available in the official SEC disclosure. In the last quarter, insiders acquired 115,150 shares of company stock valued at $692,962. 1.73% of the stock is currently owned by insiders.

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.