Eos Energy Enterprises, Inc. $EOSE Shares Sold by Ardsley Advisory Partners LP

Key Points

• Ardsley Advisory Partners cut its stake in Eos Energy Enterprises by 65.3% in the fourth quarter, selling 1,045,000 shares and leaving it with 555,000 shares valued at about $6.36 million.
• Analyst sentiment is mostly cautious: Eos has a consensus rating of Hold and an average price target of $10.94, with several firms recently trimming targets or reiterating neutral/sell views.
• The company beat earnings expectations in its latest quarter, reporting EPS of $0.12 versus an expected loss and revenue of $56.96 million, while director Marian Walters also sold 7,681 shares in May.

Ardsley Advisory Partners LP reduced its position in shares of Eos Energy Enterprises, Inc. (NASDAQ:EOSE - Free Report) by 65.3% during the 4th quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The institutional investor owned 555,000 shares of the company's stock after selling 1,045,000 shares during the period. Ardsley Advisory Partners LP owned about 0.19% of Eos Energy Enterprises worth $6,360,000 at the end of the most recent reporting period.

Several other institutional investors and hedge funds have also made changes to their positions in the company. Towarzystwo Funduszy Inwestycyjnych PZU SA raised its position in shares of Eos Energy Enterprises by 58.8% during the 4th quarter. Towarzystwo Funduszy Inwestycyjnych PZU SA now owns 2,700 shares of the company's stock valued at $31,000 after acquiring an additional 1,000 shares in the last quarter. GAMMA Investing LLC raised its position 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 increased its position in Eos Energy Enterprises by 6.5% in the third quarter. Diversify Advisory Services LLC now owns 17,124 shares of the company's stock worth $195,000 after buying an additional 1,049 shares during the period. Caitong International Asset Management Co. Ltd increased its position in Eos Energy Enterprises by 33.1% in the fourth quarter. Caitong International Asset Management Co. Ltd now owns 5,732 shares of the company's stock worth $66,000 after buying an additional 1,425 shares during the period. Finally, Lake Street Private Wealth LLC increased its position in Eos Energy Enterprises by 19.0% in the fourth quarter. Lake Street Private Wealth LLC now owns 12,550 shares of the company's stock worth $144,000 after buying an additional 2,000 shares during the period. 54.87% of the stock is owned by institutional investors and hedge funds.

Analyst Ratings Changes

Several equities analysts have recently issued reports on the stock. Weiss Ratings reissued a "sell (d-)" rating on shares of Eos Energy Enterprises in a report on Tuesday, April 21st. Zacks Research upgraded shares of Eos Energy Enterprises from a "strong sell" rating to a "hold" rating in a research report on Tuesday, April 28th. JPMorgan Chase & Co. lowered their price target on shares of Eos Energy Enterprises from $9.00 to $6.00 and set a "neutral" rating for the company in a research report on Thursday, April 16th. B. Riley Financial lowered their price target on shares of Eos Energy Enterprises from $12.00 to $8.00 and set a "neutral" rating for the company in a research report on Thursday, March 5th. Finally, TD Cowen upped their price target on shares of Eos Energy Enterprises from $7.00 to $8.00 and gave the stock a "hold" rating in a research report on Thursday, May 14th. Two research analysts have rated the stock with a Buy rating, seven have assigned a Hold rating and one has assigned a Sell rating to the company's stock. Based on data from MarketBeat.com, Eos Energy Enterprises presently has an average rating of "Hold" and a consensus target price of $10.94.

Eos Energy Enterprises Stock Performance

Eos Energy Enterprises stock opened at $7.60 on Thursday. The company has a 50-day simple moving average of $7.20 and a 200-day simple moving average of $9.84. The firm has a market capitalization of $2.58 billion, a P/E ratio of -1.14 and a beta of 2.62. Eos Energy Enterprises, Inc. has a one year low of $4.18 and a one year high of $19.86.

Eos Energy Enterprises (NASDAQ:EOSE - Get Free Report) last issued its quarterly earnings results on Wednesday, May 13th. The company reported $0.12 EPS for the quarter, beating analysts' consensus estimates of ($0.22) by $0.34. The business had revenue of $56.96 million for the quarter, compared to analyst estimates of $54.32 million. As a group, sell-side analysts forecast that Eos Energy Enterprises, Inc. will post -0.31 earnings per share for the current year.

Insider Activity at Eos Energy Enterprises

In other news, Director Marian Walters sold 7,681 shares of the firm's stock in a transaction on Tuesday, May 19th. The stock was sold at an average price of $7.07, for a total transaction of $54,304.67. Following the transaction, the director directly owned 135,334 shares of the company's stock, valued at approximately $956,811.38. This trade represents a 5.37% decrease in their ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through the SEC website. Company insiders own 1.73% of the company's stock.

Eos Energy Enterprises 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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