Stifel Financial Corp Lowers Holdings in Eos Energy Enterprises, Inc. (NASDAQ:EOSE)

Stifel Financial Corp reduced its holdings in Eos Energy Enterprises, Inc. (NASDAQ:EOSE - Free Report) by 5.3% during the third quarter, according to the company in its most recent 13F filing with the SEC. The fund owned 4,680,169 shares of the company's stock after selling 263,412 shares during the quarter. Stifel Financial Corp owned about 2.16% of Eos Energy Enterprises worth $13,900,000 at the end of the most recent quarter.

Several other hedge funds have also recently made changes to their positions in the business. Vanguard Group Inc. boosted its position in Eos Energy Enterprises by 6.6% during the 1st quarter. Vanguard Group Inc. now owns 9,375,916 shares of the company's stock valued at $9,657,000 after acquiring an additional 580,022 shares in the last quarter. Price T Rowe Associates Inc. MD raised its holdings in 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 purchasing an additional 18,735 shares in the last quarter. Kempner Capital Management Inc. lifted its position in Eos Energy Enterprises by 59.1% during the second quarter. Kempner Capital Management Inc. now owns 175,000 shares of the company's stock valued at $222,000 after buying an additional 65,000 shares during the period. &PARTNERS boosted its holdings in shares of Eos Energy Enterprises by 27.4% during the 2nd quarter. &PARTNERS now owns 411,900 shares of the company's stock valued at $523,000 after buying an additional 88,650 shares in the last quarter. Finally, Cullen Frost Bankers Inc. grew its position in shares of Eos Energy Enterprises by 40.0% in the 2nd quarter. Cullen Frost Bankers Inc. now owns 70,000 shares of the company's stock worth $89,000 after buying an additional 20,000 shares during the period. 54.87% of the stock is owned by hedge funds and other institutional investors.

Eos Energy Enterprises Stock Performance

Shares of EOSE stock traded up $0.17 during trading hours on Wednesday, reaching $3.24. The company had a trading volume of 4,415,621 shares, compared to its average volume of 6,807,101. The business has a fifty day moving average price of $2.93 and a 200-day moving average price of $2.19. Eos Energy Enterprises, Inc. has a one year low of $0.61 and a one year high of $3.66. The firm has a market cap of $706.03 million, a PE ratio of -1.27 and a beta of 2.31.

Insiders Place Their Bets

In other news, Director Jeffrey S. Bornstein sold 30,000 shares of the company'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 completion of the sale, the director now directly owns 84,929 shares in the company, valued at $222,513.98. This represents a 26.10 % decrease in their position. The transaction was disclosed in a document filed with the SEC, which is available at this link. Insiders own 3.80% of the company's stock.

Analysts Set New Price Targets

EOSE has been the topic of several recent research reports. Roth Mkm cut their price target on Eos Energy Enterprises from $4.50 to $4.00 and set a "buy" rating on the stock in a research note on Thursday, November 7th. Stifel Nicolaus restated a "buy" rating and set a $6.00 price target on shares of Eos Energy Enterprises in a report on Wednesday, August 21st. Two analysts have rated the stock with a hold rating and four have issued a buy rating to the stock. Based on data from MarketBeat.com, the stock currently has an average rating of "Moderate Buy" and a consensus price target of $3.90.

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.