Eos Energy Enterprises (NASDAQ:EOSE) Insider Nathan Kroeker Sells 110,417 Shares

Key Points

• Insider sale: Nathan Kroeker sold 110,417 Eos Energy Enterprises shares for approximately $371,000 under a pre-arranged Rule 10b5-1 plan to cover tax withholding from vested equity awards. His holdings fell 11.06% to 887,527 shares.
• Shares under pressure: EOSE fell 6.6% to $3.37, near its 52-week low of $3.21, with trading volume above its average. The stock has a market capitalization of about $1.14 billion.
• Mixed analyst outlook: Analysts’ consensus rating is “Hold,” with an average price target of $9.17, although recent opinions range from “Strong Buy” and “Buy” to “Sell.” Institutional investors own approximately 54.87% of the company.

Eos Energy Enterprises, Inc. (NASDAQ:EOSE - Get Free Report) insider Nathan Kroeker sold 110,417 shares of the firm's stock in a transaction that occurred on Tuesday, July 28th. The stock was sold at an average price of $3.36, for a total transaction of $371,001.12. Following the transaction, the insider owned 887,527 shares in the company, valued at approximately $2,982,090.72. This trade represents a 11.06% decrease in their ownership of the stock. The sale was disclosed in a legal filing with the SEC, 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.

Nathan Kroeker also recently made the following trade(s):

• On Tuesday, July 7th, Nathan Kroeker sold 79,309 shares of Eos Energy Enterprises stock. The shares were sold at an average price of $4.68, for a total transaction of $371,166.12.
• On Tuesday, June 30th, Nathan Kroeker sold 35,289 shares of Eos Energy Enterprises stock. The stock was sold at an average price of $5.86, for a total transaction of $206,793.54.

Eos Energy Enterprises Stock Down 6.6%

NASDAQ:EOSE traded down $0.24 during trading hours on Tuesday, reaching $3.37. 31,191,773 shares of the company's stock were exchanged, compared to its average volume of 25,376,746. Eos Energy Enterprises, Inc. has a 1-year low of $3.21 and a 1-year high of $19.86. The firm has a market capitalization of $1.14 billion, a price-to-earnings ratio of -0.50 and a beta of 2.68. The company has a 50-day moving average of $6.19 and a 200 day moving average of $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 EPS for the quarter, beating analysts' consensus estimates of ($0.22) by $0.34. The business had revenue of $56.96 million during the quarter, compared to analyst estimates of $54.32 million. Research analysts forecast that Eos Energy Enterprises, Inc. will post -0.32 EPS for the current fiscal year.

Institutional Investors Weigh In On Eos Energy Enterprises

Institutional investors have recently added to or reduced their stakes in the business. Handelsbanken Fonder AB increased its position in 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 during the period. Apella Capital LLC raised its stake in shares of Eos Energy Enterprises by 170.7% during the 2nd quarter. Apella Capital LLC now owns 39,777 shares of the company's stock worth $234,000 after buying an additional 25,084 shares in the last quarter. Byrne Asset Management LLC acquired a new stake in shares of Eos Energy Enterprises in the 2nd quarter valued at approximately $142,000. Gainplan LLC lifted its holdings in shares of 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 during the period. Finally, Empowered Funds LLC purchased a new stake in shares of Eos Energy Enterprises in the first quarter valued at approximately $66,000. Hedge funds and other institutional investors own 54.87% of the company's stock.

Analyst Ratings Changes

EOSE has been the topic of several recent research reports. Needham & Company LLC started coverage on Eos Energy Enterprises in a research report on Friday, May 22nd. They issued a "buy" rating and a $11.00 price target on the stock. Wall Street Zen cut Eos Energy Enterprises from a "hold" rating to a "sell" rating in a research note on Saturday, July 4th. Weiss Ratings restated a "sell (d-)" rating on shares of Eos Energy Enterprises in a research note on Friday, July 17th. Zacks Research raised Eos Energy Enterprises from a "strong sell" rating to a "hold" rating in a report on Tuesday, April 28th. Finally, JPMorgan Chase & Co. dropped their price objective on shares of Eos Energy Enterprises from $9.00 to $6.00 and set a "neutral" rating on the stock in a research note on Thursday, April 16th. One equities research analyst has rated the stock with a Strong Buy rating, two have issued a Buy rating, seven have given a Hold rating and one has issued a Sell rating to the company. According to data from MarketBeat.com, the stock has an average rating of "Hold" and an average target price of $9.17.

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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