Eos Energy Enterprises (NASDAQ:EOSE) CEO Joe Mastrangelo Sells 159,154 Shares of Stock

Key Points

• CEO Joe Mastrangelo sold 159,154 Eos Energy shares at an average price of $3.61, generating approximately $574,546. His direct ownership fell 7.55% to 1.95 million shares.
• EOSE shares declined to $3.37, near their 12-month low of $3.21, while the stock’s 50-day and 200-day moving averages stood at $6.19 and $8.21, respectively.
• Analyst sentiment remains mixed but trends cautious: the stock carries an average “Hold” rating and a $9.17 target price, while institutional investors own 54.87% of outstanding shares.

Eos Energy Enterprises, Inc. (NASDAQ:EOSE - Get Free Report) CEO Joe Mastrangelo sold 159,154 shares of the stock in a transaction that occurred on Monday, July 27th. The shares were sold at an average price of $3.61, for a total transaction of $574,545.94. Following the sale, the chief executive officer directly owned 1,947,586 shares of the company's stock, valued at $7,030,785.46. This represents a 7.55% decrease in their position. The transaction was disclosed in a document filed with the SEC, which is available at the SEC website.

Eos Energy Enterprises Stock Performance

Shares of NASDAQ EOSE traded down $0.24 during midday trading on Tuesday, reaching $3.37. The stock had a trading volume of 31,191,773 shares, compared to its average volume of 25,376,746. The firm has a market cap of $1.14 billion, a price-to-earnings ratio of -0.50 and a beta of 2.68. Eos Energy Enterprises, Inc. has a twelve month low of $3.21 and a twelve month high of $19.86. The company's 50 day moving average price is $6.19 and its 200 day moving average price is $8.21.

Eos Energy Enterprises (NASDAQ:EOSE - Get Free Report) last posted its quarterly earnings data on Wednesday, May 13th. The company reported $0.12 earnings per share for the quarter, topping the consensus estimate 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. Equities analysts forecast that Eos Energy Enterprises, Inc. will post -0.32 earnings per share for the current fiscal year.

Institutional Investors Weigh In On Eos Energy Enterprises

Several hedge funds and other institutional investors have recently bought and sold shares of EOSE. Handelsbanken Fonder AB boosted its position in shares of Eos Energy Enterprises by 46.3% during the 2nd quarter. Handelsbanken Fonder AB now owns 147,500 shares of the company's stock worth $867,000 after purchasing an additional 46,700 shares in the last quarter. Apella Capital LLC grew its stake in shares of Eos Energy Enterprises by 170.7% in the 2nd quarter. Apella Capital LLC now owns 39,777 shares of the company's stock valued at $234,000 after buying an additional 25,084 shares during the period. Byrne Asset Management LLC bought a new stake in Eos Energy Enterprises in the 2nd quarter valued at about $142,000. Gainplan LLC increased its position in Eos Energy Enterprises by 53.8% in the 2nd quarter. Gainplan LLC now owns 18,860 shares of the company's stock valued at $111,000 after buying an additional 6,599 shares in the last quarter. Finally, Empowered Funds LLC acquired a new position in Eos Energy Enterprises during the 1st quarter worth approximately $66,000. 54.87% of the stock is owned by institutional investors.

Wall Street Analysts Forecast Growth

A number of brokerages have weighed in on EOSE. Weiss Ratings reiterated a "sell (d-)" rating on shares of Eos Energy Enterprises in a report on Friday, July 17th. TD Cowen upped their target price on Eos Energy Enterprises from $7.00 to $8.00 and gave the company a "hold" rating in a research report on Thursday, May 14th. JPMorgan Chase & Co. decreased their target price on Eos Energy Enterprises from $9.00 to $6.00 and set a "neutral" rating for the company in a research note on Thursday, April 16th. Stifel Nicolaus lowered their target price on Eos Energy Enterprises from $12.00 to $10.00 and set a "buy" rating for the company in a report on Monday, July 13th. Finally, Wall Street Zen lowered Eos Energy Enterprises from a "hold" rating to a "sell" rating in a research note on Saturday, July 4th. One analyst has rated the stock with a Strong Buy rating, two have given a Buy rating, seven have issued a Hold rating and one has given a Sell rating to the company. According to MarketBeat, Eos Energy Enterprises currently has an average rating of "Hold" and an average target price of $9.17.

Eos Energy Enterprises Company Profile

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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