Millennium Management LLC Grows Stock Holdings in Eos Energy Enterprises, Inc. (NASDAQ:EOSE)

Millennium Management LLC raised its holdings in Eos Energy Enterprises, Inc. (NASDAQ:EOSE - Free Report) by 5,744.5% during the 2nd quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission. The firm owned 3,164,017 shares of the company's stock after purchasing an additional 3,109,880 shares during the period. Millennium Management LLC owned about 1.52% of Eos Energy Enterprises worth $4,018,000 at the end of the most recent quarter.

Several other institutional investors also recently bought and sold shares of EOSE. Ground Swell Capital LLC acquired a new stake in Eos Energy Enterprises in the second quarter valued at approximately $34,000. 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 boosted its stake in shares of Eos Energy Enterprises by 52.2% in the first 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. American International Group Inc. boosted 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 worth $78,000 after acquiring an additional 22,056 shares during the last quarter. Finally, Point72 DIFC Ltd acquired a new stake in shares of Eos Energy Enterprises in the second quarter worth approximately $83,000. 54.87% of the stock is owned by institutional investors and hedge funds.

Eos Energy Enterprises Trading Up 0.6 %

NASDAQ EOSE traded up $0.02 on Monday, reaching $3.16. 3,586,697 shares of the company were exchanged, compared to its average volume of 6,716,681. The business's fifty day moving average price is $2.44 and its 200 day moving average price is $1.59. The stock has a market capitalization of $657.68 million, a P/E ratio of -2.03 and a beta of 2.40. Eos Energy Enterprises, Inc. has a fifty-two week low of $0.61 and a fifty-two week high of $3.30.

Eos Energy Enterprises (NASDAQ:EOSE - Get Free Report) last released its quarterly earnings data on Tuesday, August 6th. The company reported ($0.30) earnings per share 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. Equities research analysts forecast that Eos Energy Enterprises, Inc. will post -0.78 earnings per share for the current year.

Insider Buying and Selling at Eos Energy Enterprises

In other Eos Energy Enterprises news, Director Jeffrey S. Bornstein sold 30,000 shares of Eos Energy Enterprises stock in a transaction on Thursday, September 12th. The stock was sold at an average price of $2.62, for a total value of $78,600.00. Following the sale, the director now owns 84,929 shares in the company, valued at $222,513.98. The trade was a 0.00 % decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available through the SEC website. In related news, Director Jeffrey S. Bornstein sold 30,000 shares of the business's stock in a transaction on Thursday, September 12th. The stock was sold at an average price of $2.62, for a total value of $78,600.00. Following the sale, the director now owns 84,929 shares in the company, valued at approximately $222,513.98. The trade was a 0.00 % decrease in their position. The transaction was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. Also, CEO Joe Mastrangelo bought 52,800 shares of the firm's 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 purchase, the chief executive officer now owns 909,793 shares in the company, valued at $1,301,003.99. This represents a 0.00 % increase in their position. The disclosure for this purchase can be found here. Company insiders own 4.06% of the company's stock.

Analyst Upgrades and Downgrades

A number of analysts have recently issued reports on the company. Roth Mkm reaffirmed a "buy" rating and issued a $4.50 price target on shares of Eos Energy Enterprises in a research note on Friday, June 28th. B. Riley raised Eos Energy Enterprises to a "hold" rating in a research note on Tuesday, June 25th. Finally, Stifel Nicolaus reaffirmed a "buy" rating and issued a $6.00 price target on shares of Eos Energy Enterprises in a research note on Wednesday, August 21st. Two investment analysts have rated the stock with a hold rating and five have issued a buy rating to the company. According to MarketBeat.com, the stock presently has a consensus rating of "Moderate Buy" and a consensus price target 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.