NewEdge Advisors LLC reduced its position in shares of Eos Energy Enterprises, Inc. (NASDAQ:EOSE – Free Report) by 46.7% in the 1st quarter, according to its most recent filing with the Securities and Exchange Commission. The fund owned 993,639 shares of the company’s stock after selling 871,904 shares during the quarter. NewEdge Advisors LLC owned about 0.29% of Eos Energy Enterprises worth $4,928,000 as of its most recent filing with the Securities and Exchange Commission.
Several other institutional investors and hedge funds have also recently added to or reduced their stakes in the company. Vanguard Group Inc. boosted its stake in shares of Eos Energy Enterprises by 19.8% in the 4th quarter. Vanguard Group Inc. now owns 18,616,874 shares of the company’s stock valued at $213,349,000 after purchasing an additional 3,080,012 shares during the last quarter. Rubric Capital Management LP bought a new stake in shares of Eos Energy Enterprises during the third quarter worth approximately $117,317,000. State Street Corp lifted its holdings in Eos Energy Enterprises by 6.1% in the fourth quarter. State Street Corp now owns 7,689,841 shares of the company’s stock valued at $88,126,000 after buying an additional 443,809 shares during the period. Geode Capital Management LLC lifted its holdings in Eos Energy Enterprises by 16.1% in the fourth quarter. Geode Capital Management LLC now owns 7,205,507 shares of the company’s stock valued at $82,587,000 after buying an additional 998,332 shares during the period. Finally, Goldman Sachs Group Inc. boosted its stake in Eos Energy Enterprises by 36.8% in the first quarter. Goldman Sachs Group Inc. now owns 3,900,513 shares of the company’s stock valued at $14,744,000 after acquiring an additional 1,050,128 shares during the last quarter. 54.87% of the stock is owned by institutional investors.
Insiders Place Their Bets
In other Eos Energy Enterprises news, insider Michelle Buczkowski sold 11,469 shares of the firm’s stock in a transaction that occurred on Tuesday, June 30th. The shares were sold at an average price of $5.87, for a total transaction of $67,323.03. Following the sale, the insider directly owned 59,242 shares in the company, valued at approximately $347,750.54. This trade represents a 16.22% decrease in their position. The sale was disclosed in a filing with the SEC, which is accessible through this link. 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 Nathan Kroeker sold 110,417 shares of Eos Energy Enterprises stock in a transaction that occurred on Tuesday, July 28th. The shares were sold at an average price of $3.36, for a total transaction of $371,001.12. Following the completion of the transaction, the insider directly owned 887,527 shares in the company, valued at approximately $2,982,090.72. The trade was a 11.06% decrease in their position. The disclosure for this sale is available in the SEC filing. 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 456,307 shares of company stock worth $1,882,877 in the last three months. 1.73% of the stock is owned by corporate insiders.
Eos Energy Enterprises Trading Up 5.2%
Eos Energy Enterprises (NASDAQ:EOSE – Get Free Report) last announced its quarterly earnings results on Wednesday, August 5th. The company reported ($1.20) earnings per share (EPS) for the quarter, missing the consensus estimate of ($0.19) by ($1.01). The business had revenue of $68.78 million during the quarter, compared to the consensus estimate of $68.32 million. During the same period in the prior year, the business earned ($1.05) EPS. On average, analysts forecast that Eos Energy Enterprises, Inc. will post -0.56 earnings per share for the current year.
Analyst Upgrades and Downgrades
EOSE has been the subject of a number of analyst reports. Zacks Research raised shares of Eos Energy Enterprises from a “strong sell” rating to a “hold” rating in a report on Tuesday, April 28th. Truist Financial began coverage on Eos Energy Enterprises in a research report on Monday, July 13th. They issued a “buy” rating and a $7.00 price target on the stock. Roth Capital set a $4.00 price objective on Eos Energy Enterprises in a research note on Thursday, August 6th. TD Cowen dropped their price objective on Eos Energy Enterprises from $8.00 to $4.00 and set a “hold” rating for the company in a report on Thursday, August 6th. Finally, Stifel Nicolaus cut their target price on Eos Energy Enterprises from $10.00 to $9.00 and set a “buy” rating on the stock in a research note on Thursday, August 6th. One analyst has rated the stock with a Strong Buy rating, two have assigned a Buy rating, seven have assigned a Hold rating and one has assigned a Sell rating to the company. According to data from MarketBeat.com, the company has an average rating of “Hold” and an average target price of $8.39.
Get Our Latest Research Report on Eos Energy Enterprises
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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