Squarepoint Ops LLC Has $595,000 Holdings in Eos Energy Enterprises, Inc. $EOSE

Key Points

• Squarepoint Ops LLC cut its Eos Energy Enterprises stake by 80.8% in the second quarter, selling 426,439 shares and retaining 101,170 shares valued at approximately $595,000. Institutional investors and hedge funds own 54.87% of EOSE.
• Company insiders sold 776,543 shares worth about $3.12 million over the past 90 days, including sales by the CEO and another insider under pre-arranged Rule 10b5-1 plans to cover tax obligations.
• Analyst sentiment remains cautious: EOSE has a consensus “Hold” rating and an $8.19 price target, while the company recently reported a larger-than-expected quarterly loss of $1.20 per share despite revenue slightly exceeding estimates.

Squarepoint Ops LLC cut its stake in Eos Energy Enterprises, Inc. (NASDAQ:EOSE - Free Report) by 80.8% in the second quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission. The fund owned 101,170 shares of the company's stock after selling 426,439 shares during the period. Squarepoint Ops LLC's holdings in Eos Energy Enterprises were worth $595,000 as of its most recent filing with the Securities and Exchange Commission.

A number of other large investors also recently modified their holdings of EOSE. Allworth Financial LP increased its holdings in shares of Eos Energy Enterprises by 198.6% in the second quarter. Allworth Financial LP now owns 4,300 shares of the company's stock valued at $25,000 after purchasing an additional 2,860 shares in the last quarter. Caitong International Asset Management Co. Ltd boosted its position in Eos Energy Enterprises by 33.1% in the 4th quarter. Caitong International Asset Management Co. Ltd now owns 5,732 shares of the company's stock valued at $66,000 after buying an additional 1,425 shares during the last quarter. Global Retirement Partners LLC boosted its position in Eos Energy Enterprises by 52.2% in the 4th quarter. Global Retirement Partners LLC now owns 9,130 shares of the company's stock valued at $105,000 after buying an additional 3,130 shares during the last quarter. PNC Financial Services Group Inc. increased its stake in shares of Eos Energy Enterprises by 279.4% in the 1st quarter. PNC Financial Services Group Inc. now owns 9,577 shares of the company's stock valued at $48,000 after buying an additional 7,053 shares during the period. Finally, KFA Private Wealth Group LLC acquired a new stake in shares of Eos Energy Enterprises in the 1st quarter valued at $50,000. 54.87% of the stock is currently owned by institutional investors and hedge funds.

Insiders Place Their Bets

In related news, CEO Joe Mastrangelo sold 250,000 shares of the business's stock in a transaction on Wednesday, September 16th. The shares were sold at an average price of $3.92, for a total transaction of $980,000.00. Following the transaction, the chief executive officer directly owned 2,308,704 shares in the company, valued at approximately $9,050,119.68. The trade was a 9.77% decrease in their ownership of the stock. The sale was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this hyperlink. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. The sale was made to cover tax withholding obligations related to the vesting of equity awards. Also, insider Nathan Kroeker sold 110,417 shares of the company's stock in a transaction on Tuesday, July 28th. The stock was sold at an average price of $3.36, for a total transaction of $371,001.12. Following the sale, the insider directly owned 887,527 shares in the company, valued at $2,982,090.72. This trade represents a 11.06% decrease in their ownership of the stock. The disclosure for this sale is available in the SEC filing. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. The sale was made to cover tax withholding obligations related to the vesting of equity awards. Insiders sold 776,543 shares of company stock valued at $3,121,182 in the last ninety days. 1.73% of the stock is currently owned by insiders.

Wall Street Analysts Forecast Growth

EOSE has been the topic of several research reports. TD Cowen cut their price target on Eos Energy Enterprises from $8.00 to $4.00 and set a "hold" rating on the stock in a research note on Thursday, August 6th. Weiss Ratings restated a "sell (d-)" rating on shares of Eos Energy Enterprises in a research report on Friday, July 17th. B. Riley Financial reduced their target price on Eos Energy Enterprises from $8.00 to $5.00 and set a "neutral" rating on the stock in a report on Friday, August 14th. Truist Financial assumed coverage on Eos Energy Enterprises in a report on Monday, July 13th. They issued a "buy" rating and a $7.00 price target for the company. Finally, Stifel Nicolaus dropped their price target on Eos Energy Enterprises from $10.00 to $9.00 and set a "buy" rating on the stock in a research report on Thursday, August 6th. One investment analyst has rated the stock with a Strong Buy rating, two have given a Buy rating, six have issued a Hold rating and one has given a Sell rating to the company. Based on data from MarketBeat, the company presently has an average rating of "Hold" and a consensus target price of $8.19.

Eos Energy Enterprises Trading Down 0.5%

Shares of EOSE stock opened at $3.96 on Friday. The firm's fifty day moving average price is $3.83 and its two-hundred day moving average price is $5.55. Eos Energy Enterprises, Inc. has a 1 year low of $3.01 and a 1 year high of $19.86. The firm has a market capitalization of $1.44 billion, a P/E ratio of -0.58 and a beta of 2.77.

Eos Energy Enterprises (NASDAQ:EOSE - Get Free Report) last posted its quarterly earnings data on Wednesday, August 5th. The company reported ($1.20) EPS for the quarter, missing analysts' consensus estimates of ($0.19) by ($1.01). The firm had revenue of $68.78 million for the quarter, compared to the consensus estimate of $68.32 million. During the same period last year, the company posted ($1.05) EPS. As a group, equities research analysts forecast that Eos Energy Enterprises, Inc. will post -1.28 EPS for the current fiscal year.

About Eos Energy Enterprises

Eos Energy Enterprises, Inc develops and manufactures long-duration energy storage systems designed to support the reliability and flexibility of electric grids. Its technology is based on aqueous zinc battery chemistry, which is intended to provide a non-flammable alternative to conventional lithium-ion batteries for stationary storage applications.

The company's primary product platform is the Eos Z3, a modular battery system designed for utility-scale and other large-scale energy storage projects.

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