BI Asset Management Fondsmaeglerselskab A S Takes Position in Eos Energy Enterprises, Inc. $EOSE

BI Asset Management Fondsmaeglerselskab A S purchased a new stake in Eos Energy Enterprises, Inc. (NASDAQ:EOSE) in the fourth quarter, HoldingsChannel reports. The firm purchased 257,219 shares of the company’s stock, valued at approximately $2,948,000.

A number of other hedge funds have also made changes to their positions in EOSE. PNC Financial Services Group Inc. increased its position in shares of Eos Energy Enterprises by 3,843.8% in the fourth quarter. PNC Financial Services Group Inc. now owns 2,524 shares of the company’s stock valued at $29,000 after buying an additional 2,460 shares in the last quarter. Danske Bank A S acquired a new stake in shares of Eos Energy Enterprises during the fourth quarter valued at $33,000. TD Waterhouse Canada Inc. boosted its stake 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 acquiring an additional 2,000 shares during the last quarter. GAMMA Investing LLC boosted its stake 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 acquiring an additional 1,036 shares during the last quarter. Finally, FNY Investment Advisers LLC boosted its stake 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 acquiring an additional 3,843 shares during the last quarter. Hedge funds and other institutional investors own 54.87% of the company’s stock.

Eos Energy Enterprises Trading Down 5.5%

Shares of NASDAQ:EOSE opened at $6.69 on Tuesday. The stock’s 50-day moving average price is $6.97 and its two-hundred day moving average price is $10.17. Eos Energy Enterprises, Inc. has a 12-month low of $3.88 and a 12-month high of $19.86. The firm has a market cap of $2.27 billion, a price-to-earnings ratio of -1.00 and a beta of 2.62.

Eos Energy Enterprises (NASDAQ:EOSE) last issued its quarterly earnings results on Wednesday, May 13th. The company reported $0.12 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of ($0.22) by $0.34. The business had revenue of $56.96 million during the quarter, compared to analyst estimates of $54.32 million. As a group, research analysts forecast that Eos Energy Enterprises, Inc. will post -0.31 earnings per share for the current fiscal year.

Insider Transactions at Eos Energy Enterprises

In other Eos Energy Enterprises news, Director Marian Walters sold 7,681 shares of the firm’s stock in a transaction dated Tuesday, May 19th. The stock was sold at an average price of $7.07, for a total value of $54,304.67. Following the sale, the director directly owned 135,334 shares of the company’s stock, valued at approximately $956,811.38. This trade represents a 5.37% decrease in their position. The sale was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this hyperlink. Insiders own 1.73% of the company’s stock.

Wall Street Analyst Weigh In

A number of analysts recently commented on the company. B. Riley Financial decreased their price objective on Eos Energy Enterprises from $12.00 to $8.00 and set a “neutral” rating on the stock in a research note on Thursday, March 5th. Wall Street Zen raised Eos Energy Enterprises from a “strong sell” rating to a “hold” rating in a research note on Saturday, May 16th. JPMorgan Chase & Co. decreased their price objective on Eos Energy Enterprises from $9.00 to $6.00 and set a “neutral” rating on the stock in a research note on Thursday, April 16th. Needham & Company LLC assumed coverage on Eos Energy Enterprises in a research note on Friday, May 22nd. They set a “buy” rating and a $11.00 price objective on the stock. Finally, Zacks Research raised Eos Energy Enterprises from a “strong sell” rating to a “hold” rating in a research note on Tuesday, April 28th. Two equities research analysts have rated the stock with a Buy rating, seven have given a Hold rating and one has issued a Sell rating to the stock. According to data from MarketBeat.com, the stock presently has a consensus rating of “Hold” and an average target price of $10.94.

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.