Haiyan Song Buys 5,000 Shares of Eos Energy Enterprises (NASDAQ:EOSE) Stock

Key Points

• Director Haiyan Song bought 5,000 Eos Energy shares at an average price of $3.84, investing $19,200 and increasing her holdings to 15,000 shares.
• Eos Energy’s latest quarterly results missed expectations, reporting a loss of $1.20 per share versus the $0.19 consensus estimate, although revenue of $68.78 million slightly exceeded forecasts.
• Analyst sentiment is mixed, with a consensus “Hold” rating and an $8.19 price target; institutional investors own approximately 54.87% of the stock.

Eos Energy Enterprises, Inc. (NASDAQ:EOSE - Get Free Report) Director Haiyan Song acquired 5,000 shares of the stock in a transaction on Monday, September 14th. The stock was bought at an average price of $3.84 per share, for a total transaction of $19,200.00. Following the transaction, the director owned 15,000 shares in the company, valued at approximately $57,600. This represents a 50.00% increase in their position. The purchase was disclosed in a filing with the SEC, which is available at this hyperlink.

Eos Energy Enterprises Price Performance

NASDAQ:EOSE opened at $3.82 on Tuesday. The firm has a market cap of $1.39 billion, a price-to-earnings ratio of -0.56 and a beta of 2.77. The company has a 50 day moving average price of $3.87 and a 200-day moving average price of $5.64. Eos Energy Enterprises, Inc. has a 1-year low of $3.01 and a 1-year high of $19.86.

Eos Energy Enterprises (NASDAQ:EOSE - Get Free Report) last announced its quarterly earnings results on Wednesday, August 5th. The company reported ($1.20) earnings per share (EPS) for the quarter, missing analysts' consensus estimates of ($0.19) by ($1.01). The company had revenue of $68.78 million for the quarter, compared to analysts' expectations of $68.32 million. During the same quarter in the previous year, the business earned ($1.05) earnings per share. On average, sell-side analysts anticipate that Eos Energy Enterprises, Inc. will post -0.92 earnings per share for the current fiscal year.

Institutional Trading of Eos Energy Enterprises

A number of hedge funds and other institutional investors have recently modified their holdings of the stock. Sequoia Financial Advisors LLC acquired a new position in Eos Energy Enterprises during the second quarter worth $117,000. Tidal Investments LLC lifted its position in shares of Eos Energy Enterprises by 151.0% during the second quarter. Tidal Investments LLC now owns 649,111 shares of the company's stock worth $3,817,000 after purchasing an additional 390,461 shares in the last quarter. WINTON GROUP Ltd purchased a new position in shares of Eos Energy Enterprises in the second quarter valued at approximately $920,000. Baird Financial Group Inc. increased its stake in Eos Energy Enterprises by 9.4% during the 2nd quarter. Baird Financial Group Inc. now owns 863,479 shares of the company's stock worth $5,077,000 after buying an additional 74,338 shares during the period. Finally, Allworth Financial LP boosted its position in Eos Energy Enterprises by 198.6% in the 2nd quarter. Allworth Financial LP now owns 4,300 shares of the company's stock valued at $25,000 after buying an additional 2,860 shares during the period. 54.87% of the stock is owned by institutional investors and hedge funds.

Analyst Ratings Changes

EOSE has been the topic of a number of recent analyst reports. Stifel Nicolaus lowered 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. TD Cowen cut their price target on shares of Eos Energy Enterprises from $8.00 to $4.00 and set a "hold" rating for the company in a report on Thursday, August 6th. B. Riley Financial decreased their price objective on shares of Eos Energy Enterprises from $8.00 to $5.00 and set a "neutral" rating on the stock in a report on Friday, August 14th. Weiss Ratings restated a "sell (d-)" rating on shares of Eos Energy Enterprises in a research report on Friday, July 17th. Finally, Truist Financial initiated coverage on Eos Energy Enterprises in a report on Monday, July 13th. They set a "buy" rating and a $7.00 target price for the company. One research 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 issued a Sell rating to the stock. According to data from MarketBeat.com, the company currently has a consensus rating of "Hold" and a consensus price target of $8.19.

Eos Energy Enterprises Company Profile

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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