California State Teachers Retirement System Purchases New Holdings in Eos Energy Enterprises, Inc. (NASDAQ:EOSE)

California State Teachers Retirement System bought a new stake in Eos Energy Enterprises, Inc. (NASDAQ:EOSE - Free Report) during the fourth quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The institutional investor bought 186,765 shares of the company's stock, valued at approximately $908,000. California State Teachers Retirement System owned 0.08% of Eos Energy Enterprises at the end of the most recent reporting period.

A number of other hedge funds have also made changes to their positions in the stock. Parkside Financial Bank & Trust acquired a new stake in shares of Eos Energy Enterprises during the 4th quarter valued at about $29,000. Carmel Capital Partners LLC bought a new position in Eos Energy Enterprises during the fourth quarter valued at approximately $49,000. WESPAC Advisors LLC lifted its stake in Eos Energy Enterprises by 16.6% in the fourth quarter. WESPAC Advisors LLC now owns 12,647 shares of the company's stock valued at $61,000 after acquiring an additional 1,798 shares during the last quarter. Stephens Inc. AR acquired a new stake in Eos Energy Enterprises in the fourth quarter valued at approximately $64,000. Finally, Montag A & Associates Inc. grew its position in Eos Energy Enterprises by 21.0% in the fourth quarter. Montag A & Associates Inc. now owns 13,809 shares of the company's stock worth $67,000 after acquiring an additional 2,400 shares in the last quarter. 54.87% of the stock is owned by hedge funds and other institutional investors.

Insider Activity

In other news, CEO Joe Mastrangelo sold 270,384 shares of the 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 $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 ownership of the stock. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. Also, General Counsel Michael W. Silberman sold 100,943 shares of the business'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 transaction, the general counsel now directly owns 161,404 shares in the company, valued at $1,107,231.44. This trade represents a 38.48% decrease in their position. The disclosure for this sale can be found here. Over the last ninety days, insiders have sold 560,356 shares of company stock valued at $3,844,042. 3.63% of the stock is owned by insiders.

Eos Energy Enterprises Stock Performance

Shares of Eos Energy Enterprises stock traded up $0.20 on Thursday, reaching $4.21. The stock had a trading volume of 5,036,472 shares, compared to its average volume of 8,608,099. The business's 50-day moving average price is $5.06 and its two-hundred day moving average price is $4.71. The stock has a market cap of $958.15 million, a P/E ratio of -1.75 and a beta of 1.97. Eos Energy Enterprises, Inc. has a fifty-two week low of $0.74 and a fifty-two week high of $7.36.

Eos Energy Enterprises (NASDAQ:EOSE - Get Free Report) last announced 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 company had revenue of $10.46 million for the quarter, compared to analysts' expectations of $11.77 million. As a group, equities analysts forecast that Eos Energy Enterprises, Inc. will post -2.54 earnings per share for the current fiscal year.

Wall Street Analyst Weigh In

EOSE has been the topic of a number of recent research reports. Roth Capital downgraded shares of Eos Energy Enterprises from a "strong-buy" rating to a "hold" rating in a report on Thursday, February 20th. Cowen reiterated a "hold" rating on shares of Eos Energy Enterprises in a report on Friday, March 7th. Roth Mkm lowered 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 report on Thursday, February 20th. Guggenheim reduced their price target on 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. Finally, Stifel Nicolaus decreased their price target on Eos Energy Enterprises from $9.00 to $8.50 and set a "buy" rating for the company in a research note on Monday. Four research analysts have rated the stock with a hold rating and two have given a buy rating to the company's stock. According to MarketBeat.com, the stock has an average rating of "Hold" and a consensus price target of $6.50.

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.