Eos Energy Enterprises (NASDAQ:EOSE) Director Haiyan Song Acquires 10,000 Shares of Stock

Key Points

• Director Haiyan Song purchased 10,000 Eos Energy shares at an average price of $3.95, investing $39,500; they also acquired an additional 5,000 shares the following week at $3.84 each.
• Eos shares rose 1.7% to $3.88, but the company recently reported a significantly wider-than-expected quarterly loss of $1.20 per share despite revenue slightly exceeding estimates.
• Analyst sentiment remains mixed, with a consensus “Hold” rating and an average price target of $8.19; institutional investors own 54.87% of the stock.

Eos Energy Enterprises, Inc. (NASDAQ:EOSE - Get Free Report) Director Haiyan Song purchased 10,000 shares of Eos Energy Enterprises stock in a transaction that occurred on Friday, September 11th. The stock was acquired at an average cost of $3.95 per share, with a total value of $39,500.00. Following the acquisition, the director directly owned 10,000 shares of the company's stock, valued at $39,500. The trade was a ∞ increase in their position. The purchase was disclosed in a filing with the SEC, which is available through this hyperlink.

Haiyan Song also recently made the following trade(s):

• On Monday, September 14th, Haiyan Song acquired 5,000 shares of Eos Energy Enterprises stock. The shares were acquired at an average price of $3.84 per share, for a total transaction of $19,200.00.

Eos Energy Enterprises Stock Up 1.7%

Shares of EOSE traded up $0.07 during trading on Tuesday, reaching $3.88. The company's stock had a trading volume of 4,606,597 shares, compared to its average volume of 25,513,250. The company has a market cap of $1.41 billion, a price-to-earnings ratio of -0.57 and a beta of 2.77. The company has a fifty day moving average of $3.87 and a two-hundred day moving average of $5.64. Eos Energy Enterprises, Inc. has a twelve month low of $3.01 and a twelve month high of $19.86.

Eos Energy Enterprises (NASDAQ:EOSE - Get Free Report) last released its quarterly earnings results on Wednesday, August 5th. The company reported ($1.20) earnings per share 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 analyst estimates of $68.32 million. During the same period in the prior year, the firm earned ($1.05) earnings per share. As a group, equities analysts forecast that Eos Energy Enterprises, Inc. will post -0.92 EPS for the current fiscal year.

Institutional Trading of Eos Energy Enterprises

Institutional investors and hedge funds have recently modified their holdings of the business. Allworth Financial LP boosted its position in Eos Energy Enterprises by 198.6% during the 2nd quarter. Allworth Financial LP now owns 4,300 shares of the company's stock worth $25,000 after acquiring an additional 2,860 shares during the period. PNC Financial Services Group Inc. raised 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 worth $48,000 after buying an additional 7,053 shares in the last quarter. KFA Private Wealth Group LLC bought a new stake in shares of Eos Energy Enterprises in the 1st quarter worth $50,000. Laurel Oak Wealth Management LLC acquired a new stake in shares of Eos Energy Enterprises in the first quarter valued at $55,000. Finally, Abel Hall LLC acquired a new stake in shares of Eos Energy Enterprises in the first quarter valued at $56,000. 54.87% of the stock is owned by institutional investors and hedge funds.

Wall Street Analyst Weigh In

Several research firms have recently weighed in on EOSE. Roth Capital boosted their target price on shares of Eos Energy Enterprises from $4.00 to $4.50 and gave the stock a "neutral" rating in a research report on Thursday. Truist Financial started coverage on Eos Energy Enterprises in a research note on Monday, July 13th. They issued a "buy" rating and a $7.00 price target for the company. Weiss Ratings reissued a "sell (d-)" rating on shares of Eos Energy Enterprises in a 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. Finally, Needham & Company LLC decreased their target price on Eos Energy Enterprises from $11.00 to $10.00 and set a "buy" rating for the company in a research report on Tuesday. One research analyst has rated the stock with a Strong Buy rating, two have issued a Buy rating, six have assigned a Hold rating and one has issued a Sell rating to the company. According to data from MarketBeat.com, the stock currently has a consensus rating of "Hold" and an average target price of $8.19.

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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