Eos Energy Enterprises, Inc. (NASDAQ:EOSE) Short Interest Update

Eos Energy Enterprises, Inc. (NASDAQ:EOSE) was the recipient of a large growth in short interest in September. As of September 30th, there was short interest totalling 54,850,000 shares, a growth of 8.1% from the September 15th total of 50,750,000 shares. Based on an average daily volume of 7,380,000 shares, the days-to-cover ratio is currently 7.4 days.

Eos Energy Enterprises Stock Performance

EOSE opened at $3.36 on Wednesday. Eos Energy Enterprises has a twelve month low of $0.61 and a twelve month high of $3.36. The firm has a market cap of $699.31 million, a P/E ratio of -2.15 and a beta of 2.40. The business has a 50 day moving average price of $2.47 and a 200 day moving average price of $1.60.

Eos Energy Enterprises (NASDAQ:EOSE) last released its quarterly earnings data 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 firm had revenue of $0.90 million during the quarter, compared to analyst estimates of $4.38 million. As a group, analysts anticipate that Eos Energy Enterprises will post -0.78 earnings per share for the current fiscal year.

Analysts Set New Price Targets

Several equities research analysts recently commented on the company. Roth Mkm reissued a “buy” rating and issued a $4.50 price target on shares of Eos Energy Enterprises in a research note on Friday, June 28th. Stifel Nicolaus reissued 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 raised Eos Energy Enterprises to a “hold” rating in a research note 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. According to data from MarketBeat, Eos Energy Enterprises has a consensus rating of “Moderate Buy” and an average target price of $3.67.

Insider Buying and Selling

In related news, CEO Joe Mastrangelo purchased 52,800 shares of the company’s stock in a transaction that occurred on Friday, August 9th. The shares were purchased at an average price of $1.43 per share, with a total value of $75,504.00. Following the purchase, the chief executive officer now owns 909,793 shares of the company’s stock, valued at $1,301,003.99. This trade represents a 0.00 % increase in their position. The acquisition was disclosed in a document filed with the SEC, which is available at the SEC website. In other Eos Energy Enterprises 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 price 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 in the company, valued at $1,301,003.99. The trade was a 0.00 % increase in their position. The acquisition was disclosed in a document filed with the SEC, which can be accessed through the SEC website. Also, Director Jeffrey S. Bornstein sold 30,000 shares of Eos Energy Enterprises stock in a transaction dated Thursday, September 12th. The shares were 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 in the company, valued at approximately $222,513.98. This trade represents a 0.00 % decrease in their position. The disclosure for this sale can be found here. 4.06% of the stock is currently owned by company insiders.

Institutional Trading of Eos Energy Enterprises

A number of large investors have recently bought and sold shares of EOSE. Millennium Management LLC grew its position in Eos Energy Enterprises by 5,744.5% in the second quarter. Millennium Management LLC now owns 3,164,017 shares of the company’s stock valued at $4,018,000 after acquiring an additional 3,109,880 shares during the period. NewEdge Advisors LLC grew its position in Eos Energy Enterprises by 30.2% in the second quarter. NewEdge Advisors LLC now owns 2,588,823 shares of the company’s stock valued at $3,288,000 after acquiring an additional 600,143 shares during the period. Vanguard Group Inc. grew its holdings in shares of Eos Energy Enterprises by 6.6% during the first quarter. Vanguard Group Inc. now owns 9,375,916 shares of the company’s stock worth $9,657,000 after purchasing an additional 580,022 shares during the last quarter. B. Riley Wealth Advisors Inc. grew its holdings in shares of Eos Energy Enterprises by 940.6% during the first quarter. B. Riley Wealth Advisors Inc. now owns 275,765 shares of the company’s stock worth $284,000 after purchasing an additional 249,265 shares during the last quarter. Finally, Point72 Asia Singapore Pte. Ltd. acquired a new position in shares of Eos Energy Enterprises during the second quarter valued at $216,000. 54.87% of the stock is currently owned by institutional investors.

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.