Nathan Kroeker Sells 50,000 Shares of Eos Energy Enterprises (NASDAQ:EOSE) Stock

Eos Energy Enterprises, Inc. (NASDAQ:EOSE) CFO Nathan Kroeker sold 50,000 shares of the stock in a transaction on Monday, January 26th. The shares were sold at an average price of $16.04, for a total value of $802,000.00. Following the completion of the transaction, the chief financial officer directly owned 662,512 shares of the company’s stock, valued at approximately $10,626,692.48. This represents a 7.02% decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the SEC, which can be accessed through this hyperlink.

Eos Energy Enterprises Trading Down 7.3%

Shares of NASDAQ EOSE opened at $15.01 on Wednesday. The stock has a market cap of $4.33 billion, a PE ratio of -1.80 and a beta of 2.11. Eos Energy Enterprises, Inc. has a 12-month low of $3.07 and a 12-month high of $19.86. The company has a 50-day moving average of $14.27 and a 200 day moving average of $11.62.

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

Analyst Ratings Changes

EOSE has been the subject of a number of analyst reports. Weiss Ratings reissued a “sell (d-)” rating on shares of Eos Energy Enterprises in a report on Thursday, January 22nd. B. Riley boosted their target price on shares of Eos Energy Enterprises from $8.00 to $12.00 and gave the company a “neutral” rating in a report on Tuesday, November 11th. Roth Mkm set a $12.00 price target on shares of Eos Energy Enterprises and gave the stock a “neutral” rating in a report on Wednesday, October 22nd. Wall Street Zen lowered shares of Eos Energy Enterprises from a “hold” rating to a “sell” rating in a research report on Saturday, November 8th. Finally, JPMorgan Chase & Co. assumed coverage on Eos Energy Enterprises in a report on Wednesday, December 17th. They issued a “neutral” rating and a $16.00 price objective on the stock. Two analysts have rated the stock with a Buy rating, six have assigned a Hold rating and one has given a Sell rating to the company. Based on data from MarketBeat.com, Eos Energy Enterprises presently has a consensus rating of “Hold” and a consensus target price of $13.50.

Hedge Funds Weigh In On Eos Energy Enterprises

Several large investors have recently made changes to their positions in the stock. Millennium Management LLC increased its holdings in Eos Energy Enterprises by 55.1% in the 1st quarter. Millennium Management LLC now owns 2,522,273 shares of the company’s stock valued at $9,534,000 after purchasing an additional 896,471 shares during the last quarter. Goldman Sachs Group Inc. raised its holdings in shares of Eos Energy Enterprises by 36.8% in the 1st quarter. Goldman Sachs Group Inc. now owns 3,900,513 shares of the company’s stock valued at $14,744,000 after buying an additional 1,050,128 shares during the period. Wealth Enhancement Advisory Services LLC lifted its stake in Eos Energy Enterprises by 9.8% during the 2nd quarter. Wealth Enhancement Advisory Services LLC now owns 55,290 shares of the company’s stock worth $281,000 after acquiring an additional 4,923 shares in the last quarter. Janney Montgomery Scott LLC acquired a new position in Eos Energy Enterprises during the 2nd quarter worth about $59,000. Finally, J. Safra Sarasin Holding AG purchased a new position in Eos Energy Enterprises during the 2nd quarter valued at about $192,000. 54.87% of the stock is currently owned by institutional investors and hedge funds.

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.