Handelsbanken Fonder AB Takes $1.16 Million Position in Eos Energy Enterprises, Inc. $EOSE

Handelsbanken Fonder AB purchased a new stake in shares of Eos Energy Enterprises, Inc. (NASDAQ:EOSE) during the 4th quarter, according to its most recent filing with the Securities & Exchange Commission. The institutional investor purchased 100,800 shares of the company’s stock, valued at approximately $1,155,000.

Several other hedge funds and other institutional investors have also recently modified their holdings of EOSE. Chung Wu Investment Group LLC bought a new stake in shares of Eos Energy Enterprises during the third quarter valued at about $30,000. Danske Bank A S bought a new stake in shares of Eos Energy Enterprises during the fourth quarter valued at about $33,000. TD Waterhouse Canada Inc. increased its position in shares of Eos Energy Enterprises by 178.7% during the fourth quarter. TD Waterhouse Canada Inc. now owns 3,119 shares of the company’s stock valued at $36,000 after buying an additional 2,000 shares during the period. GAMMA Investing LLC increased 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 buying an additional 1,036 shares during the period. Finally, FNY Investment Advisers LLC increased its position in shares of Eos Energy Enterprises by 27,450.0% during the fourth quarter. FNY Investment Advisers LLC now owns 3,857 shares of the company’s stock valued at $44,000 after buying an additional 3,843 shares during the period. 54.87% of the stock is currently owned by institutional investors.

Analyst Upgrades and Downgrades

EOSE has been the topic of several analyst reports. Zacks Research upgraded Eos Energy Enterprises from a “strong sell” rating to a “hold” rating in a research report on Tuesday, April 28th. Wall Street Zen upgraded Eos Energy Enterprises from a “strong sell” rating to a “hold” rating in a research report on Saturday, May 16th. Weiss Ratings restated a “sell (d-)” rating on shares of Eos Energy Enterprises in a research report on Tuesday, April 21st. Roth Mkm decreased their price objective on shares of Eos Energy Enterprises from $12.00 to $6.00 and set a “neutral” rating on the stock in a research report on Friday, February 27th. Finally, Needham & Company LLC began coverage on shares of Eos Energy Enterprises in a research report on Friday. They issued a “buy” rating and a $11.00 price objective on the stock. Two investment analysts have rated the stock with a Buy rating, seven have assigned a Hold rating and one has assigned a Sell rating to the stock. According to MarketBeat, the company has an average rating of “Hold” and a consensus price target of $10.94.

Insider Transactions at Eos Energy Enterprises

In other news, Director Alexander Dimitrief bought 15,000 shares of the business’s stock in a transaction on Monday, March 2nd. The stock was acquired at an average price of $6.04 per share, with a total value of $90,600.00. Following the completion of the purchase, the director directly owned 235,221 shares in the company, valued at $1,420,734.84. This represents a 6.81% increase in their ownership of the stock. The transaction was disclosed in a filing with the SEC, which is available through this hyperlink. Also, CEO Joe Mastrangelo bought 23,900 shares of the business’s stock in a transaction on Wednesday, March 4th. The stock was purchased at an average cost of $6.58 per share, with a total value of $157,262.00. Following the purchase, the chief executive officer owned 1,487,126 shares of the company’s stock, valued at $9,785,289.08. This represents a 1.63% increase in their ownership of the stock. The SEC filing for this purchase provides additional information. Insiders acquired 115,150 shares of company stock worth $692,962 in the last three months. Corporate insiders own 1.73% of the company’s stock.

Eos Energy Enterprises Price Performance

Shares of EOSE opened at $8.73 on Wednesday. The firm has a market cap of $2.96 billion, a P/E ratio of -1.31 and a beta of 2.56. The stock has a 50 day simple moving average of $6.43 and a two-hundred day simple moving average of $10.66. Eos Energy Enterprises, Inc. has a 1 year low of $3.69 and a 1 year high of $19.86.

Eos Energy Enterprises (NASDAQ:EOSE) last issued its earnings results on Wednesday, May 13th. The company reported $0.12 earnings per share (EPS) for the quarter, topping the consensus estimate of ($0.22) by $0.34. The firm had revenue of $56.96 million during the quarter, compared to analysts’ expectations of $54.32 million. On average, equities analysts anticipate that Eos Energy Enterprises, Inc. will post -0.8 earnings per share for the current year.

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.