Rhumbline Advisers Has $26,000 Stock Position in Eos Energy Enterprises, Inc. (NASDAQ:EOSE)

Rhumbline Advisers lessened its stake in Eos Energy Enterprises, Inc. (NASDAQ:EOSE) by 86.3% in the second quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The institutional investor owned 20,222 shares of the company’s stock after selling 127,153 shares during the quarter. Rhumbline Advisers’ holdings in Eos Energy Enterprises were worth $26,000 at the end of the most recent reporting period.

A number of other hedge funds and other institutional investors have also bought and sold shares of the stock. Price T Rowe Associates Inc. MD raised its position in Eos Energy Enterprises by 74.4% during the first quarter. Price T Rowe Associates Inc. MD now owns 43,930 shares of the company’s stock valued at $46,000 after purchasing an additional 18,735 shares in the last quarter. American International Group Inc. boosted its stake in Eos Energy Enterprises by 41.2% in the first quarter. American International Group Inc. now owns 75,555 shares of the company’s stock valued at $78,000 after buying an additional 22,056 shares in the last quarter. Powell Investment Advisors LLC grew its position in Eos Energy Enterprises by 52.2% in the first quarter. Powell Investment Advisors LLC now owns 70,000 shares of the company’s stock valued at $72,000 after acquiring an additional 24,000 shares during the last quarter. Black Maple Capital Management LP raised its stake in Eos Energy Enterprises by 19.8% during the first quarter. Black Maple Capital Management LP now owns 181,248 shares of the company’s stock worth $187,000 after acquiring an additional 30,000 shares in the last quarter. Finally, Elevatus Welath Management lifted its holdings in shares of Eos Energy Enterprises by 50.0% in the first quarter. Elevatus Welath Management now owns 96,267 shares of the company’s stock worth $99,000 after acquiring an additional 32,090 shares during the last quarter. Institutional investors and hedge funds own 54.87% of the company’s stock.

Wall Street Analysts Forecast Growth

Several equities research analysts recently issued reports on EOSE shares. Roth Mkm reaffirmed a “buy” rating and set a $4.50 price target on shares of Eos Energy Enterprises in a report on Friday, June 28th. Stifel Nicolaus reiterated a “buy” rating and set a $6.00 price target on shares of Eos Energy Enterprises in a report on Wednesday, August 21st. 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 assigned a buy rating to the stock. Based on data from MarketBeat.com, the stock presently has an average rating of “Moderate Buy” and an average target price of $3.67.

Insider Activity at Eos Energy Enterprises

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

Eos Energy Enterprises Stock Performance

EOSE stock opened at $2.89 on Wednesday. The company has a market capitalization of $601.49 million, a P/E ratio of -1.85 and a beta of 2.39. The company has a fifty day moving average price of $2.21 and a 200-day moving average price of $1.45. Eos Energy Enterprises, Inc. has a 52-week low of $0.61 and a 52-week high of $3.07.

Eos Energy Enterprises (NASDAQ:EOSE) last released its quarterly 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 business had revenue of $0.90 million during the quarter, compared to analysts’ expectations of $4.38 million. As a group, sell-side analysts forecast that Eos Energy Enterprises, Inc. will post -0.78 earnings per share for the current fiscal 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.