Eos Energy Enterprises, Inc. (NASDAQ:EOSE) CEO Joe Mastrangelo Sells 127,152 Shares

Eos Energy Enterprises, Inc. (NASDAQ:EOSE - Get Free Report) CEO Joe Mastrangelo sold 127,152 shares of the company's stock in a transaction dated Tuesday, July 8th. The shares were sold at an average price of $4.92, for a total transaction of $625,587.84. Following the sale, the chief executive officer owned 1,236,560 shares of the company's stock, valued at approximately $6,083,875.20. The trade was a 9.32% decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available at this hyperlink.

Joe Mastrangelo also recently made the following trade(s):

• On Friday, May 16th, Joe Mastrangelo sold 270,384 shares of Eos Energy Enterprises stock. The shares were sold at an average price of $6.86, for a total transaction of $1,854,834.24.

Eos Energy Enterprises Stock Down 2.7%

Shares of NASDAQ EOSE traded down $0.13 during trading on Wednesday, hitting $4.66. The company had a trading volume of 10,226,342 shares, compared to its average volume of 8,686,084. The firm has a market capitalization of $1.06 billion, a price-to-earnings ratio of -1.05 and a beta of 2.01. Eos Energy Enterprises, Inc. has a fifty-two week low of $1.40 and a fifty-two week high of $7.36. The stock has a fifty day simple moving average of $5.12 and a two-hundred day simple moving average of $4.89.

Eos Energy Enterprises (NASDAQ:EOSE - Get Free Report) last announced its quarterly earnings data on Tuesday, May 6th. The company reported ($0.20) EPS for the quarter, missing analysts' consensus estimates of ($0.19) by ($0.01). The business had revenue of $10.46 million for the quarter, compared to the consensus estimate of $11.77 million. On average, analysts anticipate that Eos Energy Enterprises, Inc. will post -2.54 earnings per share for the current year.

Analyst Ratings Changes

A number of research firms have commented on EOSE. Stifel Nicolaus cut their target price 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. Wall Street Zen cut shares of Eos Energy Enterprises from a "hold" rating to a "sell" rating in a research note on Saturday. Guggenheim decreased their price target on shares of Eos Energy Enterprises from $7.00 to $6.00 and set a "buy" rating on the stock in a research note on Monday, June 2nd. Finally, TD Cowen upgraded shares of Eos Energy Enterprises to a "hold" rating in a report on Monday, June 23rd. One equities research analyst has rated the stock with a sell rating, four have issued a hold rating and two have issued a buy rating to the company's stock. According to MarketBeat.com, the stock currently has an average rating of "Hold" and an average price target of $6.50.

Hedge Funds Weigh In On Eos Energy Enterprises

Several hedge funds have recently added to or reduced their stakes in the business. Integrity Alliance LLC. acquired a new position in Eos Energy Enterprises during the first quarter valued at approximately $113,000. CTC Alternative Strategies Ltd. bought a new stake in Eos Energy Enterprises during the first quarter valued at $65,000. Goldman Sachs Group Inc. increased its stake in Eos Energy Enterprises by 36.8% during the first quarter. Goldman Sachs Group Inc. now owns 3,900,513 shares of the company's stock valued at $14,744,000 after purchasing an additional 1,050,128 shares during the last quarter. Millennium Management LLC grew its position in shares of Eos Energy Enterprises by 55.1% during the first quarter. Millennium Management LLC now owns 2,522,273 shares of the company's stock worth $9,534,000 after acquiring an additional 896,471 shares during the last quarter. Finally, MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. lifted its holdings in Eos Energy Enterprises by 1.5% in the first quarter. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. now owns 3,286,648 shares of the company's stock worth $12,925,000 after purchasing an additional 50,117 shares during the period. 54.87% of the stock is currently owned by hedge funds and other institutional investors.

Eos Energy Enterprises Company Profile

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.