Barings LLC Sells 1,204,430 Shares of Eos Energy Enterprises, Inc. (NASDAQ:EOSE)

Key Points

• Barings LLC reduced its stake in Eos Energy Enterprises by 50.1%, selling 1,204,430 shares and owning 1,199,018 shares valued at approximately $4.5 million after the sale.
• Several hedge funds adjusted their positions in Eos Energy, with KBC Group NV acquiring a new stake worth $38,000 and SBI Securities increasing its stake by 588%.
• Analysts have mixed outlooks on Eos Energy, with a consensus rating of "Hold" and a price target of $6.38, while the company reported a significant earnings miss with an EPS of ($1.05).

Barings LLC cut its stake in shares of Eos Energy Enterprises, Inc. (NASDAQ:EOSE - Free Report) by 50.1% during the 1st quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The firm owned 1,199,018 shares of the company's stock after selling 1,204,430 shares during the period. Barings LLC owned 0.53% of Eos Energy Enterprises worth $4,532,000 at the end of the most recent reporting period.

A number of other hedge funds and other institutional investors have also bought and sold shares of the company. Wells Fargo & Company MN grew its stake in Eos Energy Enterprises by 3.6% in the 4th quarter. Wells Fargo & Company MN now owns 62,075 shares of the company's stock worth $302,000 after buying an additional 2,175 shares in the last quarter. Carmel Capital Partners LLC increased its stake in Eos Energy Enterprises by 24.5% in the first quarter. Carmel Capital Partners LLC now owns 12,450 shares of the company's stock valued at $47,000 after acquiring an additional 2,450 shares during the last quarter. Cambridge Investment Research Advisors Inc. raised its position in Eos Energy Enterprises by 16.9% during the first quarter. Cambridge Investment Research Advisors Inc. now owns 33,053 shares of the company's stock valued at $125,000 after purchasing an additional 4,767 shares in the last quarter. Jag Capital Management LLC boosted its holdings in shares of Eos Energy Enterprises by 9.6% in the 1st quarter. Jag Capital Management LLC now owns 66,150 shares of the company's stock worth $250,000 after purchasing an additional 5,800 shares in the last quarter. Finally, SBI Securities Co. Ltd. increased its position in shares of Eos Energy Enterprises by 588.0% during the 1st quarter. SBI Securities Co. Ltd. now owns 10,065 shares of the company's stock valued at $38,000 after purchasing an additional 8,602 shares during the last quarter. Institutional investors own 54.87% of the company's stock.

Eos Energy Enterprises Price Performance

Eos Energy Enterprises stock traded down $0.08 during trading hours on Wednesday, reaching $6.44. The stock had a trading volume of 9,525,181 shares, compared to its average volume of 10,498,178. The company has a fifty day simple moving average of $4.95 and a 200-day simple moving average of $4.96. Eos Energy Enterprises, Inc. has a 52 week low of $1.39 and a 52 week high of $7.36. The stock has a market cap of $1.46 billion, a PE ratio of -1.23 and a beta of 2.07.

Eos Energy Enterprises (NASDAQ:EOSE - Get Free Report) last posted its earnings results on Wednesday, July 30th. The company reported ($1.05) earnings per share (EPS) for the quarter, missing the consensus estimate of ($0.17) by ($0.88). The company had revenue of $15.24 million during the quarter, compared to the consensus estimate of $24.96 million. Research analysts predict that Eos Energy Enterprises, Inc. will post -2.54 earnings per share for the current fiscal year.

Insider Activity at Eos Energy Enterprises

In other Eos Energy Enterprises news, Director Alexander Dimitrief sold 45,000 shares of the business's stock in a transaction on Monday, August 4th. The shares were sold at an average price of $6.00, for a total transaction of $270,000.00. Following the transaction, the director directly owned 219,452 shares of the company's stock, valued at approximately $1,316,712. The trade was a 17.02% decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, CAO Sumeet Puri sold 36,173 shares of the business's stock in a transaction dated Friday, May 16th. The shares were sold at an average price of $6.86, for a total transaction of $248,146.78. Following the transaction, the chief accounting officer owned 95,624 shares in the company, valued at $655,980.64. This represents a 27.45% decrease in their position. The disclosure for this sale can be found here. Insiders have sold 1,153,053 shares of company stock valued at $7,171,858 over the last 90 days. Company insiders own 3.63% of the company's stock.

Analysts Set New Price Targets

EOSE has been the subject of several research reports. TD Cowen upped their target price on Eos Energy Enterprises from $5.50 to $6.00 and gave the stock a "hold" rating in a research note on Friday, August 1st. Stifel Nicolaus cut their price objective on shares of Eos Energy Enterprises from $9.00 to $8.50 and set a "buy" rating for the company in a research note on Monday, June 9th. Wall Street Zen downgraded shares of Eos Energy Enterprises from a "hold" rating to a "sell" rating in a research note on Sunday. Finally, Guggenheim cut their price target on shares of Eos Energy Enterprises from $7.00 to $6.00 and set a "buy" rating for the company in a research report on Monday, June 2nd. One equities research analyst has rated the stock with a sell rating, four have given a hold rating and two have issued a buy rating to the company's stock. According to data from MarketBeat, the company presently has a consensus rating of "Hold" and a consensus price target of $6.38.

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.