Eos Energy Enterprises (NASDAQ:EOSE) Director Buys $46,500.00 in Stock

Key Points

• Director Alexander Dimitrief bought 25,000 EOSE shares at $1.86 each, investing $46,500 and increasing his direct stake by 9.28% to 294,296 shares.
• Eos Energy reported quarterly EPS of -$0.17, beating the -$0.24 consensus, and revenue of $82.73 million, above estimates of $81.60 million.
• Analyst sentiment is mostly cautious: the consensus rating is Hold with a $6.69 price target, while recent firms lowered targets; shares recently traded at $1.75.

Eos Energy Enterprises, Inc. (NASDAQ:EOSE - Get Free Report) Director Alexander Dimitrief purchased 25,000 shares of the stock in a transaction on Thursday, November 12th. The stock was acquired at an average cost of $1.86 per share, for a total transaction of $46,500.00. Following the acquisition, the director directly owned 294,296 shares in the company, valued at approximately $547,390.56. This trade represents a 9.28% increase in their ownership of the stock. The transaction was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through the SEC website.

Eos Energy Enterprises Stock Performance

Shares of EOSE stock traded down $0.07 during mid-day trading on Friday, reaching $1.75. The company's stock had a trading volume of 5,985,261 shares, compared to its average volume of 25,934,051. Eos Energy Enterprises, Inc. has a 1-year low of $1.59 and a 1-year high of $18.74. The company has a market cap of $635.48 million, a P/E ratio of -0.83 and a beta of 3.17. The firm's 50-day moving average is $2.75 and its two-hundred day moving average is $5.67.

Eos Energy Enterprises (NASDAQ:EOSE - Get Free Report) last issued its earnings results on Thursday, November 5th. The company reported ($0.17) earnings per share for the quarter, beating the consensus estimate of ($0.24) by $0.07. The business had revenue of $82.73 million for the quarter, compared to analyst estimates of $81.60 million. Eos Energy Enterprises had a net margin of 89.23% and a negative return on equity of 20.68%. Sell-side analysts anticipate that Eos Energy Enterprises, Inc. will post -1.26 EPS for the current year.

Analyst Ratings Changes

EOSE has been the subject of a number of analyst reports. Needham & Company LLC cut their price target on shares of Eos Energy Enterprises from $10.00 to $6.00 and set a "buy" rating for the company in a research note on Monday, October 19th. Stifel Nicolaus lowered their price objective on Eos Energy Enterprises from $9.00 to $4.00 and set a "buy" rating on the stock in a research note on Monday. TD Cowen upgraded Eos Energy Enterprises to a "hold" rating in a research note on Monday, October 5th. Weiss Ratings raised Eos Energy Enterprises from a "sell (d-)" rating to a "hold (c-)" rating in a report on Monday. Finally, B. Riley Financial cut their target price on Eos Energy Enterprises from $5.00 to $2.00 and set a "neutral" rating for the company in a research report on Monday. One equities research analyst has rated the stock with a Strong Buy rating, two have issued a Buy rating and seven have assigned a Hold rating to the company. According to MarketBeat.com, the stock presently has a consensus rating of "Hold" and a consensus target price of $6.69.

Institutional Trading of Eos Energy Enterprises

Several large investors have recently made changes to their positions in the business. Xcelsior Advisor Partners LLC bought a new position in Eos Energy Enterprises in the 3rd quarter worth approximately $36,000. First Trust Advisors LP lifted its holdings in Eos Energy Enterprises by 43.8% during the 3rd quarter. First Trust Advisors LP now owns 1,347,417 shares of the company's stock worth $4,130,000 after buying an additional 410,454 shares in the last quarter. Advisors Asset Management Inc. bought a new position in Eos Energy Enterprises in the 3rd quarter valued at $126,000. Private Advisor Group LLC bought a new position in Eos Energy Enterprises in the 3rd quarter valued at $34,000. Finally, Cibc World Market Inc. bought a new position in Eos Energy Enterprises in the 3rd quarter valued at $138,000. Institutional investors own 54.87% of the company's stock.

Eos Energy Enterprises Company Profile

Eos Energy Enterprises, Inc. develops and manufactures zinc-based battery energy storage systems. Its aqueous zinc battery technology is designed for stationary, long-duration storage, providing an alternative to lithium-ion systems for applications that require electricity to be stored and delivered over extended periods. The company's products include the Eos Z3 battery system, which is intended for grid-scale and commercial and industrial uses, such as supporting renewable energy integration and helping manage electricity supply and demand.

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