Northern Trust Corp Buys 71,597 Shares of Eos Energy Enterprises, Inc. (NASDAQ:EOSE)

Northern Trust Corp raised its holdings in shares of Eos Energy Enterprises, Inc. (NASDAQ:EOSE - Free Report) by 15.9% in the 4th quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The institutional investor owned 520,680 shares of the company's stock after buying an additional 71,597 shares during the quarter. Northern Trust Corp owned about 0.24% of Eos Energy Enterprises worth $2,531,000 as of its most recent filing with the Securities & Exchange Commission.

Other hedge funds and other institutional investors have also added to or reduced their stakes in the company. Stifel Financial Corp raised its position in shares of Eos Energy Enterprises by 6.4% during the 4th quarter. Stifel Financial Corp now owns 4,978,078 shares of the company's stock valued at $24,193,000 after buying an additional 297,909 shares in the last quarter. Legal & General Group Plc increased its stake in Eos Energy Enterprises by 61,220.5% in the fourth quarter. Legal & General Group Plc now owns 4,804,461 shares of the company's stock valued at $23,350,000 after acquiring an additional 4,796,626 shares during the last quarter. Geode Capital Management LLC raised its position in Eos Energy Enterprises by 1.7% during the fourth quarter. Geode Capital Management LLC now owns 2,510,088 shares of the company's stock valued at $12,205,000 after purchasing an additional 41,440 shares in the last quarter. Barings LLC raised its position in Eos Energy Enterprises by 100.5% during the fourth quarter. Barings LLC now owns 2,403,448 shares of the company's stock valued at $11,681,000 after purchasing an additional 1,204,430 shares in the last quarter. Finally, Brightline Capital Management LLC lifted its stake in Eos Energy Enterprises by 1.2% during the fourth quarter. Brightline Capital Management LLC now owns 1,659,000 shares of the company's stock worth $8,063,000 after purchasing an additional 19,000 shares during the last quarter. 54.87% of the stock is currently owned by hedge funds and other institutional investors.

Eos Energy Enterprises Stock Down 7.7%

Shares of EOSE traded down $0.49 during trading hours on Tuesday, hitting $5.89. The company had a trading volume of 19,326,263 shares, compared to its average volume of 7,774,135. Eos Energy Enterprises, Inc. has a 52-week low of $0.66 and a 52-week high of $7.36. The stock's 50 day moving average price is $5.00 and its 200 day moving average price is $4.57. The firm has a market cap of $1.34 billion, a P/E ratio of -2.44 and a beta of 2.11.

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

Analyst Ratings Changes

Several brokerages have recently commented on EOSE. Roth Mkm lowered Eos Energy Enterprises from a "buy" rating to a "neutral" rating and increased their price objective for the company from $4.00 to $5.00 in a research report on Thursday, February 20th. Guggenheim reaffirmed a "buy" rating and issued a $7.00 target price on shares of Eos Energy Enterprises in a research note on Tuesday, March 18th. Roth Capital cut shares of Eos Energy Enterprises from a "strong-buy" rating to a "hold" rating in a research report on Thursday, February 20th. Finally, Cowen restated a "hold" rating on shares of Eos Energy Enterprises in a report on Friday, March 7th. Four equities research analysts have rated the stock with a hold rating and two have assigned a buy rating to the company. According to data from MarketBeat.com, the stock currently has a consensus rating of "Hold" and a consensus target price of $6.00.

Insider Activity

In related news, CEO Joe Mastrangelo sold 270,384 shares of the company's stock in a transaction on Friday, May 16th. The shares were sold at an average price of $6.86, for a total transaction of $1,854,834.24. Following the completion of the sale, the chief executive officer now directly owns 1,109,409 shares in the company, valued at $7,610,545.74. This represents a 19.60% decrease in their position. The transaction was disclosed in a filing with the SEC, which is available through this link. Also, insider Nathan Kroeker sold 152,856 shares of the firm'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 $1,048,592.16. Following the completion of the sale, the insider now directly owns 403,815 shares in the company, valued at approximately $2,770,170.90. This trade represents a 27.46% decrease in their position. The disclosure for this sale can be found here. Over the last 90 days, insiders sold 560,356 shares of company stock valued at $3,844,042. 3.63% of the stock is currently owned by company insiders.

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.