Jag Capital Management LLC Grows Stock Position in Eos Energy Enterprises, Inc. (NASDAQ:EOSE)

Jag Capital Management LLC boosted its holdings in Eos Energy Enterprises, Inc. (NASDAQ:EOSE) by 9.6% during the first quarter, according to its most recent Form 13F filing with the SEC. The fund owned 66,150 shares of the company’s stock after acquiring an additional 5,800 shares during the period. Jag Capital Management LLC’s holdings in Eos Energy Enterprises were worth $250,000 at the end of the most recent reporting period.

Other hedge funds also recently added to or reduced their stakes in the company. Parkside Financial Bank & Trust purchased a new position in shares of Eos Energy Enterprises during the 4th quarter worth $29,000. Carmel Capital Partners LLC acquired a new position in Eos Energy Enterprises in the fourth quarter valued at about $49,000. Parallel Advisors LLC purchased a new position in Eos Energy Enterprises during the first quarter worth about $43,000. Cerity Partners LLC acquired a new stake in shares of Eos Energy Enterprises during the fourth quarter valued at about $91,000. Finally, Daiwa Securities Group Inc. purchased a new stake in shares of Eos Energy Enterprises in the 4th quarter valued at approximately $101,000. 54.87% of the stock is currently owned by hedge funds and other institutional investors.

Wall Street Analysts Forecast Growth

A number of equities analysts recently weighed in on EOSE shares. Stifel Nicolaus lowered their price objective on shares of Eos Energy Enterprises from $9.00 to $8.50 and set a “buy” rating for the company in a research report on Monday, June 9th. TD Cowen upgraded Eos Energy Enterprises to a “hold” rating in a research note on Monday, June 23rd. Cowen restated a “hold” rating on shares of Eos Energy Enterprises in a research report on Friday, March 7th. Finally, Guggenheim cut their price objective on Eos Energy Enterprises from $7.00 to $6.00 and set a “buy” rating on the stock in a report on Monday, June 2nd. Four analysts have rated the stock with a hold rating and two have assigned a buy rating to the stock. According to data from MarketBeat.com, Eos Energy Enterprises currently has a consensus rating of “Hold” and a consensus price target of $6.50.

Eos Energy Enterprises Stock Performance

Shares of EOSE stock opened at $4.41 on Friday. Eos Energy Enterprises, Inc. has a fifty-two week low of $1.27 and a fifty-two week high of $7.36. The company has a 50 day moving average price of $5.12 and a 200 day moving average price of $4.83. The stock has a market capitalization of $1.00 billion, a P/E ratio of -1.00 and a beta of 1.97.

Eos Energy Enterprises (NASDAQ:EOSE) last posted its quarterly earnings results on Tuesday, May 6th. The company reported ($0.20) EPS for the quarter, missing the consensus estimate of ($0.19) by ($0.01). The business had revenue of $10.46 million for the quarter, compared to analyst estimates of $11.77 million. On average, research analysts forecast that Eos Energy Enterprises, Inc. will post -2.54 EPS for the current fiscal year.

Insider Buying and Selling

In related news, insider Nathan Kroeker sold 152,856 shares of Eos Energy Enterprises stock in a transaction that occurred on Friday, May 16th. The shares were sold at an average price of $6.86, for a total value of $1,048,592.16. Following the completion of the transaction, the insider now owns 403,815 shares in the company, valued at $2,770,170.90. The trade was a 27.46% decrease in their ownership of the stock. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available through this hyperlink. Also, General Counsel Michael W. Silberman sold 100,943 shares of the stock in a transaction that occurred on Friday, May 16th. The shares were sold at an average price of $6.86, for a total transaction of $692,468.98. Following the completion of the sale, the general counsel now directly owns 161,404 shares in the company, valued at approximately $1,107,231.44. This represents a 38.48% decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders sold 560,356 shares of company stock valued at $3,844,042 in the last three months. 3.63% of the stock is owned by corporate insiders.

About Eos Energy Enterprises

Eos Energy Enterprises, Inc designs, manufactures, and markets zinc-based energy storage solutions for utility-scale, microgrid, and commercial and industrial (C&I) applications in the United States. The company offers Znyth technology battery energy storage system (BESS), which provides the operating flexibility to manage increased grid complexity and price volatility.