Northern Trust Corp Increases Position in Eos Energy Enterprises, Inc. (NASDAQ:EOSE)

Northern Trust Corp raised its position in Eos Energy Enterprises, Inc. (NASDAQ:EOSE - Free Report) by 15.9% during the fourth quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The firm owned 520,680 shares of the company's stock after purchasing an additional 71,597 shares during the quarter. Northern Trust Corp owned 0.24% of Eos Energy Enterprises worth $2,531,000 as of its most recent SEC filing.

Other hedge funds and other institutional investors also recently added to or reduced their stakes in the company. Parkside Financial Bank & Trust purchased a new position in shares of Eos Energy Enterprises during the fourth quarter worth approximately $29,000. R Squared Ltd purchased a new position in shares of Eos Energy Enterprises during the fourth quarter worth approximately $31,000. Carmel Capital Partners LLC purchased a new position in shares of Eos Energy Enterprises during the fourth quarter worth approximately $49,000. Harel Insurance Investments & Financial Services Ltd. purchased a new position in shares of Eos Energy Enterprises during the fourth quarter worth approximately $58,000. Finally, WESPAC Advisors LLC increased its position in shares of Eos Energy Enterprises by 16.6% during the fourth quarter. WESPAC Advisors LLC now owns 12,647 shares of the company's stock worth $61,000 after acquiring an additional 1,798 shares during the period. 54.87% of the stock is owned by hedge funds and other institutional investors.

Analysts Set New Price Targets

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

Eos Energy Enterprises Stock Down 24.7%

EOSE stock traded down $1.48 during trading on Thursday, hitting $4.51. 60,563,132 shares of the company's stock traded hands, compared to its average volume of 8,017,427. The firm has a market capitalization of $1.03 billion, a P/E ratio of -1.87 and a beta of 2.11. The business has a fifty day simple moving average of $5.06 and a two-hundred day simple moving average of $4.60. Eos Energy Enterprises, Inc. has a 1 year low of $0.66 and a 1 year high of $7.36.

Eos Energy Enterprises (NASDAQ:EOSE - Get Free Report) last issued its quarterly earnings data 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 for the quarter, compared to the consensus estimate of $11.77 million. On average, equities research analysts predict that Eos Energy Enterprises, Inc. will post -2.54 EPS for the current fiscal year.

Insider Buying and Selling at Eos Energy Enterprises

In other Eos Energy Enterprises news, CEO Joe Mastrangelo sold 270,384 shares of the firm's stock in a transaction that occurred on Friday, May 16th. The shares were 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 in the company, valued at $7,610,545.74. This trade represents a 19.60% decrease in their ownership of the stock. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available at the SEC website. Also, CAO Sumeet Puri sold 36,173 shares of the firm's stock in a transaction that occurred on Friday, May 16th. The shares were sold at an average price of $6.86, for a total transaction of $248,146.78. Following the completion of the sale, the chief accounting officer now owns 95,624 shares of the company's stock, valued at approximately $655,980.64. This trade represents a 27.45% decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders sold a total of 560,356 shares of company stock worth $3,844,042 over the last three months. Corporate insiders own 3.63% of the company's stock.

Eos Energy Enterprises 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.