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

Point72 Asia Singapore Pte. Ltd. acquired a new stake in shares of Eos Energy Enterprises, Inc. (NASDAQ:EOSE - Free Report) in the 2nd quarter, according to the company in its most recent filing with the Securities and Exchange Commission (SEC). The firm acquired 170,251 shares of the company's stock, valued at approximately $216,000. Point72 Asia Singapore Pte. Ltd. owned about 0.08% of Eos Energy Enterprises as of its most recent SEC filing.

Other institutional investors and hedge funds have also made changes to their positions in the company. Price T Rowe Associates Inc. MD raised its holdings in Eos Energy Enterprises by 74.4% during the 1st quarter. Price T Rowe Associates Inc. MD now owns 43,930 shares of the company's stock valued at $46,000 after buying an additional 18,735 shares during the period. Cullen Frost Bankers Inc. raised its stake in shares of Eos Energy Enterprises by 40.0% in the second quarter. Cullen Frost Bankers Inc. now owns 70,000 shares of the company's stock valued at $89,000 after acquiring an additional 20,000 shares during the period. American International Group Inc. raised its stake 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 acquiring an additional 22,056 shares during the period. Powell Investment Advisors LLC lifted its holdings 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 acquiring an additional 24,000 shares during the last quarter. Finally, Ground Swell Capital LLC purchased a new position in shares of Eos Energy Enterprises during the 2nd quarter worth about $34,000. 54.87% of the stock is owned by hedge funds and other institutional investors.

Eos Energy Enterprises Trading Up 7.4 %

Eos Energy Enterprises stock traded up $0.22 during mid-day trading on Thursday, hitting $3.18. The company had a trading volume of 8,236,110 shares, compared to its average volume of 6,767,862. The company has a market capitalization of $661.85 million, a price-to-earnings ratio of -2.04 and a beta of 2.40. The company's fifty day moving average is $2.26 and its 200-day moving average is $1.48. Eos Energy Enterprises, Inc. has a 12-month low of $0.61 and a 12-month high of $3.20.

Eos Energy Enterprises (NASDAQ:EOSE - Get Free Report) last issued its quarterly earnings results 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 business had revenue of $0.90 million during the quarter, compared to the consensus estimate of $4.38 million. As a group, sell-side analysts expect that Eos Energy Enterprises, Inc. will post -0.78 EPS for the current fiscal year.

Insider Transactions at Eos Energy Enterprises

In related news, CEO Joe Mastrangelo bought 52,800 shares of the company's stock in a transaction on Friday, August 9th. The stock was bought at an average cost of $1.43 per share, for a total transaction of $75,504.00. Following the acquisition, the chief executive officer now directly owns 909,793 shares in the company, valued at $1,301,003.99. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available at this link. In related news, CEO Joe Mastrangelo acquired 52,800 shares of Eos Energy Enterprises 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 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 Securities & Exchange Commission, which is accessible through this link. Also, Director Jeffrey S. Bornstein sold 30,000 shares of the business'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 sale, the director now directly owns 84,929 shares in the company, valued at $222,513.98. The disclosure for this sale can be found here. Insiders own 4.06% of the company's stock.

Analyst Ratings Changes

Several analysts have issued reports on the stock. Roth Mkm reissued a "buy" rating and issued a $4.50 price objective on shares of Eos Energy Enterprises in a research note on Friday, June 28th. Stifel Nicolaus reissued a "buy" rating and set 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 report on Tuesday, June 25th. Two equities research analysts have rated the stock with a hold rating and five have given a buy rating to the stock. According to MarketBeat, Eos Energy Enterprises currently has a consensus rating of "Moderate Buy" and a consensus target price of $3.67.

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.