Private Advisor Group LLC lowered its position in Eos Energy Enterprises, Inc. (NASDAQ:EOSE – Free Report) by 78.4% in the first quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The institutional investor owned 89,064 shares of the company’s stock after selling 322,786 shares during the quarter. Private Advisor Group LLC’s holdings in Eos Energy Enterprises were worth $442,000 at the end of the most recent quarter.
Other hedge funds and other institutional investors have also made changes to their positions in the company. Inspire Investing LLC boosted its position in shares of Eos Energy Enterprises by 2.2% in the 4th quarter. Inspire Investing LLC now owns 41,442 shares of the company’s stock worth $475,000 after buying an additional 882 shares in the last quarter. Towarzystwo Funduszy Inwestycyjnych PZU SA increased its holdings in Eos Energy Enterprises by 58.8% during the 4th quarter. Towarzystwo Funduszy Inwestycyjnych PZU SA now owns 2,700 shares of the company’s stock valued at $31,000 after acquiring an additional 1,000 shares in the last quarter. GAMMA Investing LLC increased its holdings in Eos Energy Enterprises by 46.4% during the 4th 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 in the last quarter. Diversify Advisory Services LLC raised its position in Eos Energy Enterprises by 6.5% during the third quarter. Diversify Advisory Services LLC now owns 17,124 shares of the company’s stock worth $195,000 after acquiring an additional 1,049 shares during the last quarter. Finally, Caitong International Asset Management Co. Ltd raised its position in Eos Energy Enterprises by 33.1% during the fourth quarter. Caitong International Asset Management Co. Ltd now owns 5,732 shares of the company’s stock worth $66,000 after acquiring an additional 1,425 shares during the last quarter. Institutional investors and hedge funds own 54.87% of the company’s stock.
Key Stories Impacting Eos Energy Enterprises
Here are the key news stories impacting Eos Energy Enterprises this week:
- Positive Sentiment: Record preliminary Q2 revenue and a rising backlog suggest accelerating demand and better revenue visibility. Article Title
- Positive Sentiment: The Pentagon-related Golden Dome contract could strengthen Eos’ credibility in defense and government markets. Article Title
- Positive Sentiment: Truist reportedly upgraded the stock to “strong-buy,” adding to bullish sentiment. Article Title
- Neutral Sentiment: Analysts and market commentary remain mixed, with some arguing the shares are undervalued on contract wins while others say the stock still looks overvalued despite the decline. Article Title Article Title
- Negative Sentiment: Despite strong revenue growth, Eos still expects a large gross margin loss in Q2, which keeps profitability concerns front and center. Article Title
Eos Energy Enterprises Price Performance
Eos Energy Enterprises (NASDAQ:EOSE – Get Free Report) last announced its 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 firm had revenue of $56.96 million for the quarter, compared to analyst estimates of $54.32 million. As a group, sell-side analysts expect that Eos Energy Enterprises, Inc. will post -0.31 earnings per share for the current fiscal year.
Insider Buying and Selling
In other news, insider Michael W. Silberman sold 14,998 shares of Eos Energy Enterprises stock in a transaction on Tuesday, June 30th. The stock was sold at an average price of $5.87, for a total value of $88,038.26. Following the completion of the sale, the insider owned 298,277 shares of the company’s stock, valued at $1,750,885.99. The trade was a 4.79% decrease in their ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available at the SEC website. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. The sale was made to cover tax withholding obligations related to the vesting of equity awards. Also, insider Michelle Buczkowski sold 11,469 shares of the company’s stock in a transaction on Tuesday, June 30th. The shares were sold at an average price of $5.87, for a total value of $67,323.03. Following the completion of the transaction, the insider owned 59,242 shares of the company’s stock, valued at $347,750.54. The trade was a 16.22% decrease in their ownership of the stock. The SEC filing for this sale provides additional information. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. The sale was made to cover tax withholding obligations related to the vesting of equity awards. Insiders sold a total of 157,569 shares of company stock worth $839,328 in the last three months. 1.73% of the stock is currently owned by insiders.
Wall Street Analyst Weigh In
Several analysts have recently commented on the stock. JPMorgan Chase & Co. lowered their price target on shares of 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. Truist Financial assumed coverage on Eos Energy Enterprises in a research note on Monday. They issued a “buy” rating and a $7.00 target price on the stock. Weiss Ratings reiterated a “sell (d-)” rating on shares of Eos Energy Enterprises in a report on Tuesday, April 21st. Needham & Company LLC initiated coverage on Eos Energy Enterprises in a research report on Friday, May 22nd. They set a “buy” rating and a $11.00 price target for the company. Finally, Wall Street Zen cut Eos Energy Enterprises from a “hold” rating to a “sell” rating in a report on Saturday, July 4th. One research analyst has rated the stock with a Strong Buy rating, two have assigned a Buy rating, seven have issued a Hold rating and one has given a Sell rating to the stock. According to MarketBeat.com, Eos Energy Enterprises has an average rating of “Hold” and an average target price of $9.17.
Check Out Our Latest Stock Report on EOSE
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.
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