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

Alpine Global Management LLC purchased a new stake in shares of Eos Energy Enterprises, Inc. (NASDAQ:EOSE - Free Report) in the fourth quarter, according to its most recent filing with the SEC. The firm purchased 48,467 shares of the company's stock, valued at approximately $236,000.

Several other hedge funds and other institutional investors have also made changes to their positions in the company. Harel Insurance Investments & Financial Services Ltd. acquired a new position in Eos Energy Enterprises in the 4th quarter valued at $58,000. Flagship Private Wealth LLC lifted its holdings in shares of Eos Energy Enterprises by 68.7% during the 4th quarter. Flagship Private Wealth LLC now owns 55,291 shares of the company's stock worth $269,000 after acquiring an additional 22,525 shares during the period. R Squared Ltd acquired a new stake in shares of Eos Energy Enterprises in the fourth quarter worth approximately $31,000. Stephens Inc. AR acquired a new stake in shares of Eos Energy Enterprises in the fourth quarter worth approximately $64,000. Finally, Vontobel Holding Ltd. purchased a new stake in Eos Energy Enterprises in the fourth quarter valued at approximately $146,000. Institutional investors and hedge funds own 54.87% of the company's stock.

Eos Energy Enterprises Stock Performance

Shares of EOSE stock traded down $0.28 on Wednesday, hitting $5.62. The stock had a trading volume of 4,408,515 shares, compared to its average volume of 7,761,708. The stock's 50 day moving average is $5.03 and its 200-day moving average is $4.58. The firm has a market capitalization of $1.28 billion, a price-to-earnings ratio of -2.33 and a beta of 2.11. Eos Energy Enterprises, Inc. has a 52-week low of $0.66 and a 52-week high of $7.36.

Eos Energy Enterprises (NASDAQ:EOSE - Get Free Report) last posted its quarterly earnings data on Tuesday, May 6th. The company reported ($0.20) earnings per share 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. Equities analysts expect that Eos Energy Enterprises, Inc. will post -2.54 earnings per share for the current year.

Analysts Set New Price Targets

Several equities research analysts have commented on the company. Cowen restated a "hold" rating on shares of Eos Energy Enterprises in a research note on Friday, March 7th. Roth Capital cut shares of Eos Energy Enterprises from a "strong-buy" rating to a "hold" rating in a research report on Thursday, February 20th. Roth Mkm downgraded shares of Eos Energy Enterprises from a "buy" rating to a "neutral" rating and raised their target price for the company from $4.00 to $5.00 in a research note on Thursday, February 20th. Finally, Guggenheim restated a "buy" rating and set a $7.00 price objective on shares of Eos Energy Enterprises in a research note on Tuesday, March 18th. Four investment analysts have rated the stock with a hold rating and two have assigned a buy rating to the company's stock. According to data from MarketBeat.com, the stock presently has a consensus rating of "Hold" and an average price target of $6.00.

Insider Activity

In other Eos Energy Enterprises news, CEO Joe Mastrangelo sold 270,384 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 $1,854,834.24. Following the completion of the transaction, the chief executive officer now directly owns 1,109,409 shares of the company's stock, valued at $7,610,545.74. This trade represents a 19.60% decrease in their position. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available at the SEC website. Also, insider Nathan Kroeker sold 152,856 shares of the business's stock in a transaction dated Friday, May 16th. The stock was sold at an average price of $6.86, for a total transaction of $1,048,592.16. Following the completion of the sale, the insider now directly owns 403,815 shares of the company's stock, valued at $2,770,170.90. The trade was a 27.46% decrease in their position. The disclosure for this sale can be found here. In the last three months, insiders sold 560,356 shares of company stock worth $3,844,042. 3.63% of the stock is currently owned by insiders.

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.