Eos Energy Enterprises, Inc. (NASDAQ:EOSE) Shares Sold by Mitsubishi UFJ Asset Management Co. Ltd.

Mitsubishi UFJ Asset Management Co. Ltd. decreased its stake in shares of Eos Energy Enterprises, Inc. (NASDAQ:EOSE) by 2.2% in the 1st quarter, according to its most recent Form 13F filing with the SEC. The fund owned 178,827 shares of the company’s stock after selling 4,038 shares during the period. Mitsubishi UFJ Asset Management Co. Ltd. owned 0.08% of Eos Energy Enterprises worth $676,000 at the end of the most recent reporting period.

Several other institutional investors and hedge funds have also recently bought and sold shares of EOSE. LPL Financial LLC increased its position in Eos Energy Enterprises by 115.4% during the fourth quarter. LPL Financial LLC now owns 26,875 shares of the company’s stock worth $131,000 after purchasing an additional 14,400 shares during the last quarter. Geode Capital Management LLC increased its position in Eos Energy Enterprises by 1.7% during the fourth quarter. Geode Capital Management LLC now owns 2,510,088 shares of the company’s stock worth $12,205,000 after purchasing an additional 41,440 shares during the last quarter. Wells Fargo & Company MN increased its position in Eos Energy Enterprises by 3.6% during the fourth quarter. Wells Fargo & Company MN now owns 62,075 shares of the company’s stock worth $302,000 after purchasing an additional 2,175 shares during the last quarter. Russell Investments Group Ltd. acquired a new position in Eos Energy Enterprises during the fourth quarter worth approximately $391,000. Finally, Cerity Partners LLC acquired a new position in Eos Energy Enterprises during the fourth quarter worth approximately $91,000. Institutional investors and hedge funds own 54.87% of the company’s stock.

Analyst Upgrades and Downgrades

Several equities analysts recently commented on EOSE shares. Wall Street Zen lowered shares of Eos Energy Enterprises from a “hold” rating to a “sell” rating in a research report on Sunday, August 3rd. Stifel Nicolaus cut their target price on shares of Eos Energy Enterprises from $9.00 to $8.50 and set a “buy” rating on the stock in a research note on Monday, June 9th. TD Cowen raised their target price on shares of Eos Energy Enterprises from $5.50 to $6.00 and gave the company a “hold” rating in a research note on Friday, August 1st. Finally, Guggenheim cut their target price on shares of Eos Energy Enterprises from $7.00 to $6.00 and set a “buy” rating on the stock in a research note on Monday, June 2nd. One analyst has rated the stock with a sell rating, four have issued a hold rating and two have assigned a buy rating to the stock. According to data from MarketBeat, the stock currently has an average rating of “Hold” and an average target price of $6.38.

Eos Energy Enterprises Trading Up 3.8%

Shares of EOSE stock opened at $6.34 on Thursday. The company’s fifty day simple moving average is $5.19 and its 200-day simple moving average is $4.99. Eos Energy Enterprises, Inc. has a 52 week low of $1.72 and a 52 week high of $7.36. The company has a market cap of $1.65 billion, a PE ratio of -1.21 and a beta of 2.07.

Eos Energy Enterprises (NASDAQ:EOSE) last released its quarterly earnings results on Wednesday, July 30th. The company reported ($1.05) earnings per share for the quarter, missing analysts’ consensus estimates of ($0.17) by ($0.88). The company had revenue of $15.24 million for the quarter, compared to analyst estimates of $24.96 million. Equities research analysts expect that Eos Energy Enterprises, Inc. will post -2.54 EPS for the current fiscal year.

Insider Buying and Selling at Eos Energy Enterprises

In related news, CFO Nathan Kroeker sold 99,375 shares of the firm’s stock in a transaction on Tuesday, July 29th. The shares were sold at an average price of $5.94, for a total transaction of $590,287.50. Following the completion of the sale, the chief financial officer directly owned 612,512 shares of the company’s stock, valued at approximately $3,638,321.28. This trade represents a 13.96% decrease in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this link. Also, CEO Joe Mastrangelo sold 166,667 shares of the firm’s stock in a transaction on Tuesday, July 29th. The shares were sold at an average price of $5.94, for a total transaction of $990,001.98. Following the sale, the chief executive officer directly owned 1,403,226 shares of the company’s stock, valued at approximately $8,335,162.44. The trade was a 10.62% decrease in their ownership of the stock. The disclosure for this sale can be found here. In the last 90 days, insiders sold 1,153,053 shares of company stock worth $7,171,858. 3.63% 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.