Eos Energy Enterprises, Inc. (NASDAQ:EOSE) Short Interest Up 8.1% in September

Eos Energy Enterprises, Inc. (NASDAQ:EOSE) was the recipient of a large increase in short interest during the month of September. As of September 30th, there was short interest totalling 54,850,000 shares, an increase of 8.1% from the September 15th total of 50,750,000 shares. Based on an average daily volume of 7,380,000 shares, the days-to-cover ratio is presently 7.4 days.

Eos Energy Enterprises Price Performance

Eos Energy Enterprises stock opened at $3.32 on Friday. The firm has a market capitalization of $690.98 million, a price-to-earnings ratio of -2.13 and a beta of 2.40. The company’s 50 day simple moving average is $2.55 and its 200 day simple moving average is $1.63. Eos Energy Enterprises has a fifty-two week low of $0.61 and a fifty-two week high of $3.66.

Eos Energy Enterprises (NASDAQ:EOSE) last announced its quarterly earnings results on Tuesday, August 6th. The company reported ($0.30) earnings per share (EPS) for the quarter, missing the consensus estimate of ($0.19) by ($0.11). The firm had revenue of $0.90 million for the quarter, compared to the consensus estimate of $4.38 million. As a group, analysts predict that Eos Energy Enterprises will post -0.78 EPS for the current fiscal year.

Insider Buying and Selling at Eos Energy Enterprises

In related news, CEO Joe Mastrangelo purchased 52,800 shares of Eos Energy Enterprises stock in a transaction that occurred on Friday, August 9th. The shares were acquired at an average price of $1.43 per share, for a total transaction of $75,504.00. Following the transaction, the chief executive officer now directly owns 909,793 shares in the company, valued at approximately $1,301,003.99. This represents a 0.00 % increase in their ownership of the stock. The transaction was disclosed in a filing with the SEC, which is available through this link. In other Eos Energy Enterprises news, Director Jeffrey S. Bornstein sold 30,000 shares of the 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 transaction, the director now directly owns 84,929 shares in the company, valued at approximately $222,513.98. This trade represents a 0.00 % decrease in their position. The sale was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this hyperlink. Also, CEO Joe Mastrangelo bought 52,800 shares of the company’s stock in a transaction dated Friday, August 9th. The shares were purchased at an average price of $1.43 per share, with a total value of $75,504.00. Following the transaction, the chief executive officer now owns 909,793 shares of the company’s stock, valued at $1,301,003.99. The trade was a 0.00 % increase in their ownership of the stock. The disclosure for this purchase can be found here. Corporate insiders own 4.06% of the company’s stock.

Institutional Inflows and Outflows

Institutional investors and hedge funds have recently added to or reduced their stakes in the business. Price T Rowe Associates Inc. MD increased its position in shares of Eos Energy Enterprises by 74.4% during 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 in the last quarter. Cullen Frost Bankers Inc. increased its holdings in Eos Energy Enterprises by 40.0% during the 2nd quarter. Cullen Frost Bankers Inc. now owns 70,000 shares of the company’s stock worth $89,000 after purchasing an additional 20,000 shares in the last quarter. Duncan Williams Asset Management LLC bought a new position in Eos Energy Enterprises during the 3rd quarter worth about $62,000. American International Group Inc. raised its stake in shares of Eos Energy Enterprises by 41.2% in the 1st quarter. American International Group Inc. now owns 75,555 shares of the company’s stock valued at $78,000 after purchasing an additional 22,056 shares during the period. Finally, Powell Investment Advisors LLC lifted its holdings 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 valued at $72,000 after purchasing an additional 24,000 shares in the last quarter. 54.87% of the stock is owned by institutional investors and hedge funds.

Analyst Upgrades and Downgrades

Several analysts have weighed in on the company. 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. Roth Mkm reissued a “buy” rating and set a $4.50 price target on shares of Eos Energy Enterprises in a research note on Friday, June 28th. Finally, B. Riley raised shares of Eos Energy Enterprises to a “hold” rating in a research note on Tuesday, June 25th. Two analysts have rated the stock with a hold rating and five have issued a buy rating to the company. Based on data from MarketBeat, the stock has a consensus rating of “Moderate Buy” and an average target price 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.