Ground Swell Capital LLC Buys Shares of 26,921 Eos Energy Enterprises, Inc. (NASDAQ:EOSE)

Ground Swell Capital LLC bought a new stake in Eos Energy Enterprises, Inc. (NASDAQ:EOSE) during the second quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The fund bought 26,921 shares of the company’s stock, valued at approximately $34,000.

Several other large investors have also modified their holdings of EOSE. Mitsubishi UFJ Asset Management Co. Ltd. lifted its holdings in shares of Eos Energy Enterprises by 51.2% in the 4th quarter. Mitsubishi UFJ Asset Management Co. Ltd. now owns 435,129 shares of the company’s stock valued at $433,000 after buying an additional 147,350 shares during the period. Cowen AND Company LLC acquired a new stake in Eos Energy Enterprises in the fourth quarter valued at $82,000. Elevatus Welath Management purchased a new stake in shares of Eos Energy Enterprises during the 4th quarter worth $70,000. Evercore Wealth Management LLC grew its stake in shares of Eos Energy Enterprises by 31.8% during the 4th quarter. Evercore Wealth Management LLC now owns 145,000 shares of the company’s stock worth $158,000 after purchasing an additional 35,000 shares during the period. Finally, Black Maple Capital Management LP increased its holdings in shares of Eos Energy Enterprises by 227.0% in the 4th quarter. Black Maple Capital Management LP now owns 151,248 shares of the company’s stock valued at $165,000 after purchasing an additional 105,000 shares in the last quarter. Hedge funds and other institutional investors own 54.87% of the company’s stock.

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 shares were bought at an average cost of $1.43 per share, with a total value of $75,504.00. Following the purchase, the chief executive officer now directly owns 909,793 shares of the company’s stock, valued at $1,301,003.99. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this hyperlink. 4.06% of the stock is owned by insiders.

Eos Energy Enterprises Price Performance

Shares of Eos Energy Enterprises stock opened at $2.39 on Wednesday. The business has a 50 day moving average price of $2.01 and a 200 day moving average price of $1.29. The company has a market capitalization of $497.43 million, a P/E ratio of -1.53 and a beta of 2.39. Eos Energy Enterprises, Inc. has a 1 year low of $0.61 and a 1 year high of $2.94.

Eos Energy Enterprises (NASDAQ:EOSE) last released its quarterly earnings results 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 firm had revenue of $0.90 million during the quarter, compared to the consensus estimate of $4.38 million. As a group, research analysts expect that Eos Energy Enterprises, Inc. will post -0.78 EPS for the current fiscal year.

Wall Street Analysts Forecast Growth

EOSE has been the topic of a number of research analyst reports. Stifel Nicolaus reissued a “buy” rating and set a $6.00 price objective on shares of Eos Energy Enterprises in a report on Wednesday, August 21st. TD Cowen lowered their price target on Eos Energy Enterprises from $3.00 to $2.50 and set a “hold” rating on the stock in a report on Thursday, May 16th. B. Riley raised Eos Energy Enterprises to a “hold” rating in a report on Tuesday, June 25th. Roth Mkm reissued a “buy” rating and issued a $4.50 target price on shares of Eos Energy Enterprises in a report on Friday, June 28th. Finally, Evercore ISI dropped their price target on Eos Energy Enterprises from $7.00 to $3.00 and set an “outperform” rating for the company in a research report on Thursday, May 16th. Two analysts have rated the stock with a hold rating and five have assigned a buy rating to the stock. Based on data from MarketBeat.com, Eos Energy Enterprises has an average rating of “Moderate Buy” and a consensus target price of $3.67.

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.