112,300 Shares in Eos Energy Enterprises, Inc. (NASDAQ:EOSE) Bought by OMERS ADMINISTRATION Corp

OMERS ADMINISTRATION Corp bought a new position in shares of Eos Energy Enterprises, Inc. (NASDAQ:EOSE - Free Report) in the 4th quarter, according to its most recent filing with the Securities and Exchange Commission. The fund bought 112,300 shares of the company's stock, valued at approximately $546,000. OMERS ADMINISTRATION Corp owned 0.05% of Eos Energy Enterprises at the end of the most recent quarter.

A number of other institutional investors have also made changes to their positions in the business. Arizona State Retirement System bought a new position in Eos Energy Enterprises during the fourth quarter worth $305,000. FourThought Financial Partners LLC acquired a new stake in shares of Eos Energy Enterprises during the 4th quarter worth about $1,335,000. Raymond James Financial Inc. bought a new stake in shares of Eos Energy Enterprises during the 4th quarter worth about $315,000. Swiss National Bank acquired a new position in Eos Energy Enterprises in the 4th quarter valued at about $2,071,000. Finally, Barings LLC grew its stake in Eos Energy Enterprises by 100.5% in the 4th quarter. Barings LLC now owns 2,403,448 shares of the company's stock valued at $11,681,000 after buying an additional 1,204,430 shares during the last quarter. 54.87% of the stock is owned by institutional investors and hedge funds.

Eos Energy Enterprises Trading Up 1.2%

Shares of NASDAQ:EOSE traded up $0.07 on Thursday, reaching $6.00. 6,960,194 shares of the company's stock were exchanged, compared to its average volume of 7,678,859. Eos Energy Enterprises, Inc. has a twelve month low of $0.66 and a twelve month high of $7.36. The company has a fifty day moving average of $4.87 and a 200-day moving average of $4.48. The company has a market capitalization of $1.37 billion, a price-to-earnings ratio of -2.49 and a beta of 2.11.

Eos Energy Enterprises (NASDAQ:EOSE - Get Free Report) last issued 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. As a group, equities research analysts forecast that Eos Energy Enterprises, Inc. will post -2.54 EPS for the current fiscal year.

Insider Activity

In other Eos Energy Enterprises news, CAO Sumeet Puri sold 36,173 shares of the firm's stock in a transaction dated Friday, May 16th. The shares were sold at an average price of $6.86, for a total value of $248,146.78. Following the transaction, the chief accounting officer now directly owns 95,624 shares of the company's stock, valued at $655,980.64. This trade represents a 27.45% decrease in their position. The transaction was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, CEO Joe Mastrangelo sold 270,384 shares of the company's stock in a transaction that occurred on Friday, May 16th. The stock was sold at an average price of $6.86, for a total transaction of $1,854,834.24. Following 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 trade represents a 19.60% decrease in their position. The disclosure for this sale can be found here. In the last three months, insiders sold 560,356 shares of company stock worth $3,844,042. 3.63% of the stock is currently owned by company insiders.

Analyst Upgrades and Downgrades

EOSE has been the subject of several research reports. Cowen restated a "hold" rating on shares of Eos Energy Enterprises in a research report on Friday, March 7th. Roth Capital cut Eos Energy Enterprises from a "strong-buy" rating to a "hold" rating in a report on Thursday, February 20th. Roth Mkm downgraded Eos Energy Enterprises from a "buy" rating to a "neutral" rating and boosted their price target for the company from $4.00 to $5.00 in a research note on Thursday, February 20th. Finally, Guggenheim reiterated a "buy" rating and set a $7.00 price objective on shares of Eos Energy Enterprises in a research report on Tuesday, March 18th. Four research analysts have rated the stock with a hold rating and two have assigned a buy rating to the company's stock. Based on data from MarketBeat, the stock currently has an average rating of "Hold" and an average target price of $6.00.

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.