170,251 Shares in Eos Energy Enterprises, Inc. (NASDAQ:EOSE) Acquired by Point72 Asia Singapore Pte. Ltd.

Point72 Asia Singapore Pte. Ltd. acquired a new stake in Eos Energy Enterprises, Inc. (NASDAQ:EOSE) during the second quarter, according to its most recent Form 13F filing with the SEC. The institutional investor acquired 170,251 shares of the company’s stock, valued at approximately $216,000.

A number of other hedge funds and other institutional investors have also modified their holdings of EOSE. Ground Swell Capital LLC purchased a new position in Eos Energy Enterprises in the second quarter valued at $34,000. Scientech Research LLC acquired a new position in shares of Eos Energy Enterprises during the 2nd quarter worth about $36,000. Price T Rowe Associates Inc. MD increased its holdings in shares of Eos Energy Enterprises by 74.4% in the 1st quarter. Price T Rowe Associates Inc. MD now owns 43,930 shares of the company’s stock valued at $46,000 after acquiring an additional 18,735 shares during the last quarter. Point72 DIFC Ltd acquired a new stake in shares of Eos Energy Enterprises during the 2nd quarter worth about $83,000. Finally, Powell Investment Advisors LLC lifted its stake in Eos Energy Enterprises by 52.2% during the first quarter. Powell Investment Advisors LLC now owns 70,000 shares of the company’s stock worth $72,000 after purchasing an additional 24,000 shares during the last quarter. 54.87% of the stock is currently owned by institutional investors and hedge funds.

Insiders Place Their Bets

In related news, CEO Joe Mastrangelo bought 52,800 shares of the stock in a transaction on Friday, August 9th. The shares were bought at an average cost of $1.43 per share, for a total transaction of $75,504.00. Following the purchase, the chief executive officer now owns 909,793 shares of the company’s stock, valued at approximately $1,301,003.99. The acquisition was disclosed in a legal filing with the SEC, which is accessible through the SEC website. In other news, CEO Joe Mastrangelo acquired 52,800 shares of the stock in a transaction that occurred on Friday, August 9th. The shares were purchased at an average cost of $1.43 per share, for a total transaction of $75,504.00. Following the transaction, the chief executive officer now directly owns 909,793 shares in the company, valued at approximately $1,301,003.99. The acquisition was disclosed in a filing with the Securities & Exchange Commission, which is available at this hyperlink. Also, Director Jeffrey S. Bornstein sold 30,000 shares of the company’s stock in a transaction on Thursday, September 12th. The stock was sold at an average price of $2.62, for a total transaction of $78,600.00. Following the transaction, the director now owns 84,929 shares of the company’s stock, valued at approximately $222,513.98. The disclosure for this sale can be found here. 4.06% of the stock is owned by insiders.

Analyst Ratings Changes

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

Eos Energy Enterprises Price Performance

EOSE stock opened at $2.96 on Thursday. The company has a market cap of $616.06 million, a price-to-earnings ratio of -1.90 and a beta of 2.40. The company has a fifty day moving average price of $2.23 and a 200 day moving average price of $1.46. Eos Energy Enterprises, Inc. has a 12 month low of $0.61 and a 12 month high of $3.07.

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

Eos Energy Enterprises Company Profile

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.