Point72 Asia Singapore Pte. Ltd. Acquires Shares of 170,251 Eos Energy Enterprises, Inc. (NASDAQ:EOSE)

Point72 Asia Singapore Pte. Ltd. bought a new position in shares of Eos Energy Enterprises, Inc. (NASDAQ:EOSE) in the 2nd quarter, according to its most recent filing with the Securities and Exchange Commission. The fund bought 170,251 shares of the company’s stock, valued at approximately $216,000. Point72 Asia Singapore Pte. Ltd. owned 0.08% of Eos Energy Enterprises at the end of the most recent quarter.

A number of other institutional investors have also made changes to their positions in EOSE. Price T Rowe Associates Inc. MD boosted 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 worth $46,000 after purchasing an additional 18,735 shares during the period. Cullen Frost Bankers Inc. boosted its holdings in shares of Eos Energy Enterprises by 40.0% during the second quarter. Cullen Frost Bankers Inc. now owns 70,000 shares of the company’s stock worth $89,000 after acquiring an additional 20,000 shares during the period. American International Group Inc. grew its position in shares of 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 purchasing an additional 22,056 shares during the last quarter. Powell Investment Advisors LLC increased its stake in shares of 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 period. Finally, Ground Swell Capital LLC acquired a new stake in Eos Energy Enterprises during the 2nd quarter worth approximately $34,000. 54.87% of the stock is owned by institutional investors and hedge funds.

Analyst Ratings Changes

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

Eos Energy Enterprises Price Performance

NASDAQ EOSE opened at $2.59 on Friday. The business has a fifty day moving average price of $2.15 and a two-hundred day moving average price of $1.41. The stock has a market capitalization of $561.28 million, a PE ratio of -1.66 and a beta of 2.39. Eos Energy Enterprises, Inc. has a fifty-two week low of $0.61 and a fifty-two week high of $2.81.

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

Insider Buying and Selling

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

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.