170,251 Shares in Eos Energy Enterprises, Inc. (NASDAQ:EOSE) Bought by Point72 Asia Singapore Pte. Ltd.

Point72 Asia Singapore Pte. Ltd. acquired a new stake in Eos Energy Enterprises, Inc. (NASDAQ:EOSE - Free Report) during the 2nd quarter, according to its most recent Form 13F 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 0.08% of Eos Energy Enterprises at the end of the most recent quarter.

A number of other institutional investors and hedge funds have also made changes to their positions in the business. Ground Swell Capital LLC acquired a new position in shares of Eos Energy Enterprises during the 2nd quarter worth about $34,000. Scientech Research LLC purchased a new position in shares of Eos Energy Enterprises in the second quarter valued at approximately $36,000. Price T Rowe Associates Inc. MD boosted its stake in shares of Eos Energy Enterprises by 74.4% in the first quarter. Price T Rowe Associates Inc. MD now owns 43,930 shares of the company's stock worth $46,000 after acquiring an additional 18,735 shares during the last quarter. Powell Investment Advisors LLC increased its position 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 in the last quarter. Finally, American International Group Inc. raised its stake in Eos Energy Enterprises by 41.2% in the 1st 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. 54.87% of the stock is currently owned by hedge funds and other institutional investors.

Insider Activity at Eos Energy Enterprises

In other news, Director Jeffrey S. Bornstein sold 30,000 shares of the stock in a transaction 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. The transaction was disclosed in a document filed with the SEC, which is accessible through the SEC website. In related news, Director Jeffrey S. Bornstein sold 30,000 shares of the 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 of the company's stock, valued at approximately $222,513.98. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is accessible through the SEC website. Also, CEO Joe Mastrangelo bought 52,800 shares of the company's stock in a transaction that occurred on Friday, August 9th. The stock was bought at an average price of $1.43 per share, with a total value of $75,504.00. Following the acquisition, the chief executive officer now directly 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 Price Performance

Shares of EOSE traded up $0.20 during mid-day trading on Thursday, reaching $3.16. The stock had a trading volume of 6,891,427 shares, compared to its average volume of 6,759,825. Eos Energy Enterprises, Inc. has a 52-week low of $0.61 and a 52-week high of $3.18. The firm has a market cap of $657.68 million, a price-to-earnings ratio of -2.03 and a beta of 2.40. The business's fifty day moving average is $2.23 and its 200 day moving average is $1.46.

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

Analyst Ratings Changes

A number of equities research analysts have recently issued reports on EOSE shares. Roth Mkm reaffirmed a "buy" rating and set a $4.50 target price on shares of Eos Energy Enterprises in a report on Friday, June 28th. Stifel Nicolaus reaffirmed a "buy" rating and set a $6.00 price objective 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 report on Tuesday, June 25th. Two analysts have rated the stock with a hold rating and five have issued a buy rating to the stock. According to MarketBeat, Eos Energy Enterprises has an average 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.