Eos Energy Enterprises, Inc. (NASDAQ:EOSE) Director Jeffrey S. Bornstein Sells 30,000 Shares of Stock

Eos Energy Enterprises, Inc. (NASDAQ:EOSE) Director Jeffrey S. Bornstein sold 30,000 shares of the firm’s stock in a transaction on Thursday, September 12th. The shares were sold at an average price of $2.62, for a total transaction of $78,600.00. Following the transaction, the director now directly owns 84,929 shares of the company’s stock, valued at $222,513.98. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this link.

Eos Energy Enterprises Price Performance

NASDAQ:EOSE opened at $2.75 on Tuesday. The firm has a market capitalization of $572.35 million, a price-to-earnings ratio of -1.76 and a beta of 2.39. The business has a 50 day simple moving average of $2.08 and a 200-day simple moving average of $1.33. Eos Energy Enterprises, Inc. has a 1 year low of $0.61 and a 1 year high of $2.81.

Eos Energy Enterprises (NASDAQ:EOSE) last issued its quarterly earnings results on Tuesday, August 6th. The company reported ($0.30) earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of ($0.19) by ($0.11). The company had revenue of $0.90 million during the quarter, compared to the consensus estimate of $4.38 million. As a group, analysts expect that Eos Energy Enterprises, Inc. will post -0.78 earnings per share for the current fiscal year.

Hedge Funds Weigh In On Eos Energy Enterprises

A number of large investors have recently made changes to their positions in EOSE. Ground Swell Capital LLC bought a new position in Eos Energy Enterprises in the 2nd quarter valued at $34,000. Scientech Research LLC purchased a new stake in shares of Eos Energy Enterprises during the second quarter valued at $36,000. Price T Rowe Associates Inc. MD grew its holdings in shares of Eos Energy Enterprises by 74.4% in the first quarter. Price T Rowe Associates Inc. MD now owns 43,930 shares of the company’s stock worth $46,000 after purchasing an additional 18,735 shares during the last quarter. Elevatus Welath Management purchased a new position in Eos Energy Enterprises in the 4th quarter worth about $70,000. Finally, Point72 DIFC Ltd purchased a new position in Eos Energy Enterprises in the 2nd quarter worth about $83,000. 54.87% of the stock is owned by hedge funds and other institutional investors.

Wall Street Analyst Weigh In

A number of research analysts have recently weighed in on the company. Stifel Nicolaus restated a “buy” rating and set a $6.00 price objective on shares of Eos Energy Enterprises in a research report on Wednesday, August 21st. Roth Mkm reaffirmed a “buy” rating and issued a $4.50 price objective on shares of Eos Energy Enterprises in a research note on Friday, June 28th. Finally, B. Riley raised Eos Energy Enterprises to a “hold” rating in a report on Tuesday, June 25th. Two investment analysts have rated the stock with a hold rating and five have given a buy rating to the company. According to MarketBeat, the company presently has an average rating of “Moderate Buy” and an average price target of $3.67.

About Eos Energy Enterprises

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.