Shares of Eos Energy Enterprises are trading higher after the company’s chief executive and chief financial officer boosted stakes in the energy storage systems manufacturer.
The stock is up 19% at $2.69 in midday trading. Shares have jumped more than 81% this year.
The Edison, N.J.-based company disclosed after the market closed Friday that Chief Executive Joe Mastrangelo had purchased 31,199 shares at an average price of $2.23 apiece. He now holds more than 554,000 shares.
Chief Financial Officer Nathan Kroeker, who joined the company in January, meanwhile bought 4,000 shares at an average price of $2.15 apiece.
Shares closed the market at $2.26 on Friday, before the executives’ purchases were disclosed.