B. Riley Wealth Advisors Inc. Sells 208,365 Shares of Eos Energy Enterprises, Inc. (NASDAQ:EOSE)

B. Riley Wealth Advisors Inc. lessened its stake in shares of Eos Energy Enterprises, Inc. (NASDAQ:EOSE) by 75.6% in the second quarter, according to its most recent filing with the Securities & Exchange Commission. The institutional investor owned 67,400 shares of the company’s stock after selling 208,365 shares during the quarter. B. Riley Wealth Advisors Inc.’s holdings in Eos Energy Enterprises were worth $86,000 at the end of the most recent reporting period.

Several other hedge funds also recently bought and sold shares of the company. Ground Swell Capital LLC purchased a new position in Eos Energy Enterprises during the second quarter worth about $34,000. Scientech Research LLC purchased a new stake in Eos Energy Enterprises in the second quarter worth $36,000. Price T Rowe Associates Inc. MD raised its holdings in 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 worth $46,000 after purchasing an additional 18,735 shares in the last quarter. Powell Investment Advisors LLC lifted its position in shares of Eos Energy Enterprises by 52.2% in the 1st 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 period. Finally, American International Group Inc. lifted its holdings 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 worth $78,000 after buying an additional 22,056 shares during the period. Hedge funds and other institutional investors own 54.87% of the company’s stock.

Eos Energy Enterprises Stock Performance

Shares of Eos Energy Enterprises stock opened at $2.90 on Friday. Eos Energy Enterprises, Inc. has a fifty-two week low of $0.61 and a fifty-two week high of $3.30. The company has a market capitalization of $603.57 million, a P/E ratio of -1.86 and a beta of 2.40. The company has a fifty day moving average of $2.39 and a 200 day moving average of $1.55.

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

Wall Street Analyst Weigh In

EOSE has been the topic of a number of recent research reports. Roth Mkm reissued a “buy” rating and issued a $4.50 target price on shares of Eos Energy Enterprises in a research note on Friday, June 28th. Stifel Nicolaus restated a “buy” rating and issued a $6.00 price target on shares of Eos Energy Enterprises in a research note on Wednesday, August 21st. Finally, B. Riley upgraded shares of Eos Energy Enterprises to a “hold” rating in a research note on Tuesday, June 25th. Two analysts have rated the stock with a hold rating and five have issued a buy rating to the company’s stock. Based on data from MarketBeat, the stock presently has a consensus rating of “Moderate Buy” and a consensus price target of $3.67.

Insiders Place Their Bets

In other news, Director Jeffrey S. Bornstein sold 30,000 shares of the firm’s stock in a transaction dated Thursday, September 12th. The stock was sold at an average price of $2.62, for a total transaction of $78,600.00. Following the completion of the transaction, the director now owns 84,929 shares in the company, valued at $222,513.98. This trade represents a 0.00 % decrease in their ownership of the stock. The sale was disclosed in a document filed with the SEC, which is available at the SEC website. In other news, Director Jeffrey S. Bornstein sold 30,000 shares of the stock in a transaction that occurred 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 completion of the transaction, the director now directly owns 84,929 shares in the company, valued at approximately $222,513.98. This represents a 0.00 % decrease in their position. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, CEO Joe Mastrangelo purchased 52,800 shares of Eos Energy Enterprises stock in a transaction that occurred on Friday, August 9th. The stock was acquired at an average price 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 of the company’s stock, valued at $1,301,003.99. The trade was a 0.00 % increase in their position. The disclosure for this purchase can be found here. Corporate insiders own 4.06% of the company’s stock.

Eos Energy Enterprises 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.