Alpine Global Management LLC Takes $236,000 Position in Eos Energy Enterprises, Inc. (NASDAQ:EOSE)

Alpine Global Management LLC bought a new position in shares of Eos Energy Enterprises, Inc. (NASDAQ:EOSE - Free Report) in the fourth quarter, according to the company in its most recent 13F filing with the Securities & Exchange Commission. The fund bought 48,467 shares of the company's stock, valued at approximately $236,000.

Other large investors have also made changes to their positions in the company. Parkside Financial Bank & Trust acquired a new stake in shares of Eos Energy Enterprises during the 4th quarter worth approximately $29,000. R Squared Ltd bought a new position in Eos Energy Enterprises in the fourth quarter valued at approximately $31,000. Carmel Capital Partners LLC acquired a new stake in Eos Energy Enterprises during the 4th quarter worth $49,000. Harel Insurance Investments & Financial Services Ltd. acquired a new position in shares of Eos Energy Enterprises in the 4th quarter valued at $58,000. Finally, WESPAC Advisors LLC boosted its position in shares of Eos Energy Enterprises by 16.6% in the 4th quarter. WESPAC Advisors LLC now owns 12,647 shares of the company's stock worth $61,000 after purchasing an additional 1,798 shares during the last quarter. Institutional investors and hedge funds own 54.87% of the company's stock.

Eos Energy Enterprises Trading Up 1.2%

EOSE stock opened at $6.00 on Friday. Eos Energy Enterprises, Inc. has a 1-year low of $0.66 and a 1-year high of $7.36. The firm has a market cap of $1.37 billion, a PE ratio of -2.49 and a beta of 2.11. The business's 50-day moving average price is $4.91 and its two-hundred day moving average price is $4.50.

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

Analyst Ratings Changes

EOSE has been the subject of a number of recent analyst reports. Roth Capital downgraded Eos Energy Enterprises from a "strong-buy" rating to a "hold" rating in a report on Thursday, February 20th. Roth Mkm downgraded shares of Eos Energy Enterprises from a "buy" rating to a "neutral" rating and increased their price target for the company from $4.00 to $5.00 in a research report on Thursday, February 20th. Guggenheim reissued a "buy" rating and set a $7.00 price objective on shares of Eos Energy Enterprises in a research note on Tuesday, March 18th. Finally, Cowen restated a "hold" rating on shares of Eos Energy Enterprises in a report on Friday, March 7th. Four research analysts have rated the stock with a hold rating and two have issued a buy rating to the stock. According to MarketBeat.com, the stock presently has an average rating of "Hold" and an average price target of $6.00.

Insider Buying and Selling at Eos Energy Enterprises

In related news, insider Nathan Kroeker sold 152,856 shares of the firm's stock in a transaction on Friday, May 16th. The shares were sold at an average price of $6.86, for a total transaction of $1,048,592.16. Following the sale, the insider now directly owns 403,815 shares in the company, valued at $2,770,170.90. This trade represents a 27.46% decrease in their ownership of the stock. The sale was disclosed in a legal filing with the SEC, which is available at this hyperlink. Also, General Counsel Michael W. Silberman sold 100,943 shares of the company's stock in a transaction on Friday, May 16th. The stock was sold at an average price of $6.86, for a total transaction of $692,468.98. Following the completion of the transaction, the general counsel now directly owns 161,404 shares of the company's stock, valued at approximately $1,107,231.44. The trade was a 38.48% decrease in their ownership of the stock. The disclosure for this sale can be found here. Over the last quarter, insiders have sold 560,356 shares of company stock valued at $3,844,042. 3.63% of the stock is currently owned by corporate insiders.

About Eos Energy Enterprises

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.

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