Eos Energy Enterprises, Inc. (NASDAQ:EOSE) Shares Bought by Bank of America Corp DE

Bank of America Corp DE grew its holdings in Eos Energy Enterprises, Inc. (NASDAQ:EOSE - Free Report) by 165.2% in the 4th quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The firm owned 213,256 shares of the company's stock after buying an additional 132,853 shares during the quarter. Bank of America Corp DE owned about 0.10% of Eos Energy Enterprises worth $1,036,000 at the end of the most recent quarter.

A number of other institutional investors and hedge funds have also recently bought and sold shares of EOSE. Parkside Financial Bank & Trust purchased a new stake in shares of Eos Energy Enterprises during the 4th quarter worth $29,000. Carmel Capital Partners LLC purchased a new stake in Eos Energy Enterprises during the fourth quarter worth about $49,000. WESPAC Advisors LLC grew its position in Eos Energy Enterprises by 16.6% during the fourth 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 purchased a new position in Eos Energy Enterprises in the fourth quarter valued at about $64,000. Finally, Montag A & Associates Inc. lifted 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 valued at $67,000 after acquiring an additional 2,400 shares during the period. Institutional investors and hedge funds own 54.87% of the company's stock.

Insider Transactions at Eos Energy Enterprises

In other Eos Energy Enterprises news, CAO Sumeet Puri sold 36,173 shares of the stock in a transaction on Friday, May 16th. The stock was sold at an average price of $6.86, for a total transaction of $248,146.78. Following the transaction, the chief accounting officer now owns 95,624 shares of the company's stock, valued at $655,980.64. This represents a 27.45% decrease in their position. The sale was disclosed in a document filed with the SEC, which is available through this link. Also, CEO Joe Mastrangelo sold 270,384 shares of Eos Energy Enterprises stock in a transaction on Friday, May 16th. The shares were sold at an average price of $6.86, for a total value of $1,854,834.24. Following the completion of the sale, the chief executive officer now directly owns 1,109,409 shares of the company's stock, valued at approximately $7,610,545.74. This represents a 19.60% decrease in their position. The disclosure for this sale can be found here. Insiders sold a total of 560,356 shares of company stock worth $3,844,042 over the last ninety days. 3.63% of the stock is currently owned by corporate insiders.

Analyst Upgrades and Downgrades

EOSE has been the topic of several research analyst reports. Roth Capital lowered Eos Energy Enterprises from a "strong-buy" rating to a "hold" rating in a research note on Thursday, February 20th. Roth Mkm cut Eos Energy Enterprises from a "buy" rating to a "neutral" rating and raised their price target for the company from $4.00 to $5.00 in a research report on Thursday, February 20th. Stifel Nicolaus decreased their price objective on shares of Eos Energy Enterprises from $9.00 to $8.50 and set a "buy" rating on the stock in a research report on Monday. Guggenheim lowered their price objective on shares of Eos Energy Enterprises from $7.00 to $6.00 and set a "buy" rating on the stock in a research note on Monday, June 2nd. Finally, Cowen restated a "hold" rating on shares of Eos Energy Enterprises in a research report on Friday, March 7th. Four analysts have rated the stock with a hold rating and two have given a buy rating to the company. According to MarketBeat.com, the company presently has a consensus rating of "Hold" and an average price target of $6.50.

Eos Energy Enterprises Price Performance

Eos Energy Enterprises stock traded down $0.11 during mid-day trading on Tuesday, hitting $4.07. 12,943,317 shares of the company were exchanged, compared to its average volume of 8,616,847. Eos Energy Enterprises, Inc. has a 12-month low of $0.74 and a 12-month high of $7.36. The company has a market capitalization of $926.29 million, a P/E ratio of -1.69 and a beta of 1.97. The business's 50 day simple moving average is $5.06 and its two-hundred day simple moving average is $4.71.

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

Eos Energy Enterprises 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.