MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. acquired a new stake in Eos Energy Enterprises, Inc. (NASDAQ:EOSE - Free Report) in the 4th quarter, according to the company in its most recent filing with the SEC. The firm acquired 3,236,531 shares of the company's stock, valued at approximately $16,632,000. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. owned about 1.49% of Eos Energy Enterprises as of its most recent filing with the SEC.
Other hedge funds also recently made changes to their positions in the company. Janus Henderson Group PLC purchased a new position in shares of Eos Energy Enterprises in the 4th quarter worth about $492,000. Balyasny Asset Management L.P. bought a new stake in shares of Eos Energy Enterprises in the 4th quarter worth approximately $382,000. Bank of America Corp DE boosted its holdings in Eos Energy Enterprises by 165.2% in the fourth quarter. Bank of America Corp DE now owns 213,256 shares of the company's stock valued at $1,036,000 after acquiring an additional 132,853 shares in the last quarter. BNP Paribas Financial Markets purchased a new position in shares of Eos Energy Enterprises during the fourth quarter valued at about $1,271,000. Finally, Alyeska Investment Group L.P. lifted its stake in shares of Eos Energy Enterprises by 714.3% in the 4th quarter. Alyeska Investment Group L.P. now owns 1,628,500 shares of the company's stock valued at $7,915,000 after purchasing an additional 1,428,500 shares during the period. 54.87% of the stock is currently owned by institutional investors.
Insider Transactions at Eos Energy Enterprises
In related news, CEO Joe Mastrangelo sold 270,384 shares of the firm's stock in a transaction on Friday, May 16th. The shares were sold at an average price of $6.86, for a total transaction of $1,854,834.24. Following the completion of the transaction, 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 ownership of the stock. The transaction was disclosed in a legal filing with the SEC, which is accessible through this link. Also, insider Nathan Kroeker sold 152,856 shares of Eos Energy Enterprises stock in a transaction dated Friday, May 16th. The stock was sold at an average price of $6.86, for a total value of $1,048,592.16. Following the completion of the sale, the insider now directly owns 403,815 shares in the company, valued at $2,770,170.90. This trade represents a 27.46% decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders have sold 560,356 shares of company stock valued at $3,844,042 over the last quarter. 3.63% of the stock is currently owned by company insiders.
Wall Street Analyst Weigh In
EOSE has been the subject of a number of analyst reports. Cowen reaffirmed a "hold" rating on shares of Eos Energy Enterprises in a research report on Friday, March 7th. Roth Capital lowered shares of Eos Energy Enterprises from a "strong-buy" rating to a "hold" rating in a research note on Thursday, February 20th. Roth Mkm downgraded shares of Eos Energy Enterprises from a "buy" rating to a "neutral" rating and upped their target price for the stock from $4.00 to $5.00 in a research note on Thursday, February 20th. Finally, Guggenheim reissued a "buy" rating and set a $7.00 price target 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 stock. According to data from MarketBeat.com, the stock has an average rating of "Hold" and an average target price of $6.00.
Read Our Latest Stock Report on EOSE
Eos Energy Enterprises Stock Down 2.5%
Shares of NASDAQ EOSE traded down $0.16 during trading on Wednesday, reaching $6.05. 4,347,417 shares of the company traded hands, compared to its average volume of 7,115,092. Eos Energy Enterprises, Inc. has a 52-week low of $0.66 and a 52-week high of $7.36. The firm has a 50 day simple moving average of $4.84 and a 200-day simple moving average of $4.47. The stock has a market capitalization of $1.38 billion, a PE ratio of -2.51 and a beta of 2.11.
Eos Energy Enterprises (NASDAQ:EOSE - Get Free Report) last released its quarterly earnings results on Tuesday, May 6th. The company reported ($0.20) EPS for the quarter, missing the consensus estimate of ($0.19) by ($0.01). The firm had revenue of $10.46 million for the quarter, compared to analysts' expectations of $11.77 million. As a group, research analysts predict that Eos Energy Enterprises, Inc. will post -2.54 EPS for the current year.
About Eos Energy Enterprises
(
Free Report)
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.
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