Empery Asset Management LP Takes Position in Eos Energy Enterprises, Inc. $EOSE

Key Points

• Empery Asset Management opened a new position in Eos Energy Enterprises, buying 249,726 shares worth about $2.86 million; the stake is now Empery’s 9th largest holding.
• Several other institutional investors also increased their holdings, and 54.87% of Eos Energy’s stock is owned by hedge funds and other institutions.
• Analyst sentiment remains cautious: the stock has a consensus “Hold” rating with a target price of $10.94, while the company recently beat earnings expectations and reported revenue above estimates.

Empery Asset Management LP acquired a new stake in shares of Eos Energy Enterprises, Inc. (NASDAQ:EOSE - Free Report) in the 4th quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The fund acquired 249,726 shares of the company's stock, valued at approximately $2,862,000. Eos Energy Enterprises accounts for approximately 2.5% of Empery Asset Management LP's holdings, making the stock its 9th largest holding. Empery Asset Management LP owned 0.09% of Eos Energy Enterprises as of its most recent SEC filing.

Other institutional investors also recently made changes to their positions in the company. GAMMA Investing LLC lifted its holdings in shares of Eos Energy Enterprises by 46.4% during the 4th quarter. GAMMA Investing LLC now owns 3,270 shares of the company's stock valued at $37,000 after acquiring an additional 1,036 shares in the last quarter. Diversify Advisory Services LLC lifted its holdings in shares of Eos Energy Enterprises by 6.5% during the 3rd quarter. Diversify Advisory Services LLC now owns 17,124 shares of the company's stock valued at $195,000 after acquiring an additional 1,049 shares in the last quarter. Lake Street Private Wealth LLC lifted its holdings in shares of Eos Energy Enterprises by 19.0% during the 4th quarter. Lake Street Private Wealth LLC now owns 12,550 shares of the company's stock valued at $144,000 after acquiring an additional 2,000 shares in the last quarter. TD Waterhouse Canada Inc. lifted its holdings in shares of Eos Energy Enterprises by 178.7% during the 4th quarter. TD Waterhouse Canada Inc. now owns 3,119 shares of the company's stock valued at $36,000 after acquiring an additional 2,000 shares in the last quarter. Finally, PNC Financial Services Group Inc. lifted its holdings in shares of Eos Energy Enterprises by 3,843.8% during the 4th quarter. PNC Financial Services Group Inc. now owns 2,524 shares of the company's stock valued at $29,000 after acquiring an additional 2,460 shares in the last quarter. 54.87% of the stock is owned by hedge funds and other institutional investors.

Wall Street Analysts Forecast Growth

Several equities analysts recently weighed in on the stock. Zacks Research upgraded shares of Eos Energy Enterprises from a "strong sell" rating to a "hold" rating in a report on Tuesday, April 28th. TD Cowen lifted their target price on shares of Eos Energy Enterprises from $7.00 to $8.00 and gave the company a "hold" rating in a report on Thursday, May 14th. B. Riley Financial reduced their target price on shares of Eos Energy Enterprises from $12.00 to $8.00 and set a "neutral" rating on the stock in a report on Thursday, March 5th. Wall Street Zen upgraded shares of Eos Energy Enterprises from a "strong sell" rating to a "hold" rating in a report on Saturday, May 16th. Finally, JPMorgan Chase & Co. cut their price objective on shares of Eos Energy Enterprises from $9.00 to $6.00 and set a "neutral" rating on the stock in a report on Thursday, April 16th. Two investment analysts have rated the stock with a Buy rating, seven have issued a Hold rating and one has assigned a Sell rating to the company's stock. According to data from MarketBeat, the stock currently has a consensus rating of "Hold" and a consensus target price of $10.94.

Insider Buying and Selling at Eos Energy Enterprises

In other news, Director Marian Walters sold 7,681 shares of the business's stock in a transaction dated Tuesday, May 19th. The shares were sold at an average price of $7.07, for a total value of $54,304.67. Following the completion of the sale, the director owned 135,334 shares of the company's stock, valued at approximately $956,811.38. The trade was a 5.37% decrease in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available at the SEC website. Insiders own 1.73% of the company's stock.

Eos Energy Enterprises Stock Performance

EOSE opened at $6.07 on Thursday. The company has a 50-day moving average of $7.03 and a 200-day moving average of $10.08. The company has a market capitalization of $2.06 billion, a P/E ratio of -0.91 and a beta of 2.62. Eos Energy Enterprises, Inc. has a 1-year low of $3.88 and a 1-year high of $19.86.

Eos Energy Enterprises (NASDAQ:EOSE - Get Free Report) last released its earnings results on Wednesday, May 13th. The company reported $0.12 earnings per share for the quarter, topping the consensus estimate of ($0.22) by $0.34. The company had revenue of $56.96 million during the quarter, compared to the consensus estimate of $54.32 million. As a group, sell-side analysts expect that Eos Energy Enterprises, Inc. will post -0.31 earnings per share for the current fiscal year.

Eos Energy Enterprises Company Profile

Eos Energy Enterprises specializes in the development and deployment of scalable, long-duration energy storage systems designed to support the integration of renewable power and enhance grid reliability. The company's core technology centers on its proprietary zinc hybrid cathode (Znyth™) battery platform, which aims to deliver safe, low-cost, and durable performance for utility, commercial and industrial, and microgrid applications.

The company's flagship product, the Aurora™ energy storage system, combines its Znyth™ cells with modular power conversion and controls to offer flexible capacity ranging from one to three hours of discharge duration.

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