Key Points
- Eos Energy CFO Nathan Kroeker sold 79,309 shares on July 7 at an average price of $4.68, totaling about $371,166. The sale was made under a pre-arranged Rule 10b5-1 plan to cover tax withholding related to vested equity awards.
- After the transaction, Kroeker still owned 777,110 shares, meaning the sale reduced his stake by 9.26%. He also sold 35,289 shares on June 30 in a separate recent trade.
- Shares of Eos Energy were trading lower, with the article noting a 6.5% drop and a price of $4.73. The company recently beat quarterly earnings and revenue estimates, but analysts currently have a Hold consensus rating on the stock.
Eos Energy Enterprises, Inc. (NASDAQ:EOSE - Get Free Report) CFO Nathan Kroeker sold 79,309 shares of the stock in a transaction on Tuesday, July 7th. The stock was sold at an average price of $4.68, for a total transaction of $371,166.12. Following the sale, the chief financial officer owned 777,110 shares of the company's stock, valued at approximately $3,636,874.80. This trade represents a 9.26% decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available through the SEC website. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. The sale was made to cover tax withholding obligations related to the vesting of equity awards.
Nathan Kroeker also recently made the following trade(s):
- On Tuesday, June 30th, Nathan Kroeker sold 35,289 shares of Eos Energy Enterprises stock. The shares were sold at an average price of $5.86, for a total transaction of $206,793.54.
Eos Energy Enterprises Trading Down 6.5%
Shares of EOSE opened at $4.73 on Wednesday. The stock has a market capitalization of $1.61 billion, a P/E ratio of -0.71 and a beta of 2.68. The firm's fifty day simple moving average is $7.09 and its two-hundred day simple moving average is $9.02. Eos Energy Enterprises, Inc. has a 12 month low of $4.37 and a 12 month high of $19.86.
Eos Energy Enterprises (NASDAQ:EOSE - Get Free Report) last posted its quarterly earnings data on Wednesday, May 13th. The company reported $0.12 earnings per share for the quarter, topping the consensus estimate of ($0.22) by $0.34. The business had revenue of $56.96 million during the quarter, compared to the consensus estimate of $54.32 million. As a group, research analysts predict that Eos Energy Enterprises, Inc. will post -0.31 EPS for the current fiscal year.
Institutional Investors Weigh In On Eos Energy Enterprises
Several hedge funds and other institutional investors have recently modified their holdings of the company. Vanguard Group Inc. lifted its holdings in shares of Eos Energy Enterprises by 19.8% in the 4th quarter. Vanguard Group Inc. now owns 18,616,874 shares of the company's stock worth $213,349,000 after purchasing an additional 3,080,012 shares in the last quarter. Rubric Capital Management LP acquired a new stake in Eos Energy Enterprises in the 3rd quarter valued at $117,317,000. State Street Corp increased its stake in Eos Energy Enterprises by 6.1% during the 4th quarter. State Street Corp now owns 7,689,841 shares of the company's stock valued at $88,126,000 after purchasing an additional 443,809 shares in the last quarter. Geode Capital Management LLC raised its holdings in Eos Energy Enterprises by 16.1% during the fourth quarter. Geode Capital Management LLC now owns 7,205,507 shares of the company's stock worth $82,587,000 after buying an additional 998,332 shares during the last quarter. Finally, Goldman Sachs Group Inc. raised its holdings in Eos Energy Enterprises by 36.8% during the first quarter. Goldman Sachs Group Inc. now owns 3,900,513 shares of the company's stock worth $14,744,000 after buying an additional 1,050,128 shares during the last quarter. Institutional investors own 54.87% of the company's stock.
Wall Street Analyst Weigh In
A number of brokerages have weighed in on EOSE. Weiss Ratings reiterated a "sell (d-)" rating on shares of Eos Energy Enterprises in a report on Tuesday, April 21st. TD Cowen raised their price objective on shares of Eos Energy Enterprises from $7.00 to $8.00 and gave the stock a "hold" rating in a research report on Thursday, May 14th. Zacks Research upgraded shares of Eos Energy Enterprises from a "strong sell" rating to a "hold" rating in a research note on Tuesday, April 28th. Wall Street Zen downgraded shares of Eos Energy Enterprises from a "hold" rating to a "sell" rating in a research report on Saturday. Finally, JPMorgan Chase & Co. cut their target price on shares of Eos Energy Enterprises from $9.00 to $6.00 and set a "neutral" rating on the stock in a research note on Thursday, April 16th. Two investment analysts have rated the stock with a Buy rating, seven have issued a Hold rating and one has issued a Sell rating to the company. According to data from MarketBeat.com, the stock presently has a consensus rating of "Hold" and an average price target of $10.94.
View Our Latest Research Report on EOSE
Eos Energy Enterprises Company Profile
(
Get Free Report)
Eos Energy Enterprises specializes in the development and deployment of scalable, long-duration energy storage systems designed to support the integration of renewable power and enhance grid reliability. The company's core technology centers on its proprietary zinc hybrid cathode (Znyth™) battery platform, which aims to deliver safe, low-cost, and durable performance for utility, commercial and industrial, and microgrid applications.
The company's flagship product, the Aurora™ energy storage system, combines its Znyth™ cells with modular power conversion and controls to offer flexible capacity ranging from one to three hours of discharge duration.
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