Eos Energy Enterprises, Inc. (NASDAQ:EOSE) Stake Lowered by Traynor Capital Management Inc.

Traynor Capital Management Inc. reduced its stake in shares of Eos Energy Enterprises, Inc. (NASDAQ:EOSE) by 38.1% during the 3rd quarter, according to the company in its most recent filing with the Securities & Exchange Commission. The institutional investor owned 14,400 shares of the company’s stock after selling 8,870 shares during the period. Traynor Capital Management Inc.’s holdings in Eos Energy Enterprises were worth $43,000 as of its most recent SEC filing.

Other institutional investors and hedge funds have also modified their holdings of the company. Millennium Management LLC boosted its holdings in Eos Energy Enterprises by 5,744.5% in the second quarter. Millennium Management LLC now owns 3,164,017 shares of the company’s stock worth $4,018,000 after purchasing an additional 3,109,880 shares in the last quarter. NewEdge Advisors LLC boosted its holdings in Eos Energy Enterprises by 30.2% in the second quarter. NewEdge Advisors LLC now owns 2,588,823 shares of the company’s stock worth $3,288,000 after purchasing an additional 600,143 shares in the last quarter. Vanguard Group Inc. boosted its holdings in Eos Energy Enterprises by 6.6% in the first quarter. Vanguard Group Inc. now owns 9,375,916 shares of the company’s stock worth $9,657,000 after purchasing an additional 580,022 shares in the last quarter. B. Riley Wealth Advisors Inc. boosted its holdings in Eos Energy Enterprises by 940.6% in the first quarter. B. Riley Wealth Advisors Inc. now owns 275,765 shares of the company’s stock worth $284,000 after purchasing an additional 249,265 shares in the last quarter. Finally, Point72 Asia Singapore Pte. Ltd. bought a new stake in Eos Energy Enterprises in the second quarter worth $216,000. 54.87% of the stock is currently owned by hedge funds and other institutional investors.

Analyst Upgrades and Downgrades

Separately, Stifel Nicolaus reiterated a “buy” rating and issued a $6.00 price objective on shares of Eos Energy Enterprises in a report on Wednesday, August 21st. Two analysts have rated the stock with a hold rating and five have issued a buy rating to the company’s stock. According to data from MarketBeat.com, the company currently has an average rating of “Moderate Buy” and an average target price of $3.67.

Eos Energy Enterprises Price Performance

EOSE stock opened at $3.45 on Wednesday. Eos Energy Enterprises, Inc. has a 52-week low of $0.61 and a 52-week high of $3.66. The company has a 50-day moving average of $2.78 and a two-hundred day moving average of $1.77. The stock has a market capitalization of $747.64 million, a price-to-earnings ratio of -5.00 and a beta of 2.40.

Eos Energy Enterprises (NASDAQ:EOSE) last released 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 for the quarter, compared to the consensus estimate of $4.38 million. Equities analysts expect that Eos Energy Enterprises, Inc. will post -0.78 EPS for the current fiscal year.

Insider Buying and Selling at Eos Energy Enterprises

In other news, CEO Joe Mastrangelo purchased 52,800 shares of the firm’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 completion of the acquisition, the chief executive officer now directly owns 909,793 shares of the company’s stock, valued at approximately $1,301,003.99. The trade was a 0.00 % increase in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this hyperlink. In related news, CEO Joe Mastrangelo acquired 52,800 shares of the business’s stock in a transaction dated Friday, August 9th. The stock was acquired at an average price of $1.43 per share, with a total value of $75,504.00. Following the completion of the transaction, the chief executive officer now owns 909,793 shares of the company’s stock, valued at approximately $1,301,003.99. This represents a 0.00 % increase in their ownership of the stock. The purchase was disclosed in a document filed with the SEC, which is accessible through the SEC website. Also, Director Jeffrey S. Bornstein sold 30,000 shares of the company’s stock in a transaction dated Thursday, September 12th. The shares were sold at an average price of $2.62, for a total transaction of $78,600.00. Following the transaction, the director now directly owns 84,929 shares of the company’s stock, valued at $222,513.98. This represents a 0.00 % decrease in their position. The disclosure for this sale can be found here. Corporate insiders own 3.80% of the company’s stock.

Eos Energy Enterprises 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.