Bank of America Corp DE Has $1.04 Million Stock Position in Eos Energy Enterprises, Inc. (NASDAQ:EOSE)

Bank of America Corp DE increased its position in Eos Energy Enterprises, Inc. (NASDAQ:EOSE - Free Report) by 165.2% in the fourth quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The firm owned 213,256 shares of the company's stock after purchasing an additional 132,853 shares during the quarter. Bank of America Corp DE owned approximately 0.10% of Eos Energy Enterprises worth $1,036,000 as of its most recent SEC filing.

A number of other hedge funds and other institutional investors have also recently added to or reduced their stakes in EOSE. Parkside Financial Bank & Trust acquired a new position in shares of Eos Energy Enterprises during the 4th quarter worth about $29,000. Carmel Capital Partners LLC acquired a new position in shares of Eos Energy Enterprises during the 4th quarter worth about $49,000. WESPAC Advisors LLC grew its position in shares of Eos Energy Enterprises by 16.6% during the 4th quarter. WESPAC Advisors LLC now owns 12,647 shares of the company's stock worth $61,000 after buying an additional 1,798 shares during the period. Stephens Inc. AR acquired a new position in shares of Eos Energy Enterprises during the 4th quarter worth about $64,000. Finally, Montag A & Associates Inc. grew its position in shares of Eos Energy Enterprises by 21.0% during the 4th quarter. Montag A & Associates Inc. now owns 13,809 shares of the company's stock worth $67,000 after buying an additional 2,400 shares during the period. 54.87% of the stock is currently owned by institutional investors and hedge funds.

Insider Buying and Selling at Eos Energy Enterprises

In other Eos Energy Enterprises news, CAO Sumeet Puri sold 36,173 shares of the business's stock in a transaction that occurred on Friday, May 16th. The stock was sold at an average price of $6.86, for a total value of $248,146.78. Following the sale, the chief accounting officer now owns 95,624 shares in the company, valued at approximately $655,980.64. The trade was a 27.45% decrease in their position. The transaction was disclosed in a legal filing with the SEC, which is accessible through this link. Also, insider Nathan Kroeker sold 152,856 shares of the business's stock in a transaction that occurred on Friday, May 16th. The shares were sold at an average price of $6.86, for a total value of $1,048,592.16. Following the completion of the sale, the insider now owns 403,815 shares in the company, 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 quarter, insiders have sold 560,356 shares of company stock worth $3,844,042. Corporate insiders own 3.63% of the company's stock.

Wall Street Analyst Weigh In

Several equities analysts have recently weighed in on the company. Guggenheim cut their price objective on Eos Energy Enterprises from $7.00 to $6.00 and set a "buy" rating on the stock in a report on Monday, June 2nd. Cowen reiterated a "hold" rating on shares of Eos Energy Enterprises in a report on Friday, March 7th. Roth Capital cut Eos Energy Enterprises from a "strong-buy" rating to a "hold" rating in a report on Thursday, February 20th. Finally, Roth Mkm cut Eos Energy Enterprises from a "buy" rating to a "neutral" rating and lifted their price objective for the company from $4.00 to $5.00 in a report on Thursday, February 20th. Four equities research analysts have rated the stock with a hold rating and two have given a buy rating to the stock. Based on data from MarketBeat.com, the company currently has an average rating of "Hold" and an average target price of $5.67.

Eos Energy Enterprises Price Performance

NASDAQ:EOSE opened at $3.84 on Friday. The stock has a market capitalization of $873.95 million, a PE ratio of -1.59 and a beta of 1.97. The business's 50-day simple moving average is $5.05 and its 200-day simple moving average is $4.67. Eos Energy Enterprises, Inc. has a fifty-two week low of $0.68 and a fifty-two week high of $7.36.

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

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.

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