Electron Capital Partners LLC Sells 742,235 Shares of Eos Energy Enterprises, Inc. $EOSE

Electron Capital Partners LLC decreased its holdings in Eos Energy Enterprises, Inc. (NASDAQ:EOSE) by 12.1% in the first quarter, Holdings Channel.com reports. The institutional investor owned 5,379,661 shares of the company’s stock after selling 742,235 shares during the period. Eos Energy Enterprises makes up 1.0% of Electron Capital Partners LLC’s portfolio, making the stock its 23rd largest holding. Electron Capital Partners LLC’s holdings in Eos Energy Enterprises were worth $26,683,000 as of its most recent SEC filing.

Other hedge funds and other institutional investors have also bought and sold shares of the company. PNC Financial Services Group Inc. boosted its holdings in Eos Energy Enterprises by 3,843.8% in the fourth quarter. PNC Financial Services Group Inc. now owns 2,524 shares of the company’s stock worth $29,000 after purchasing an additional 2,460 shares during the last quarter. Towarzystwo Funduszy Inwestycyjnych PZU SA raised its stake in Eos Energy Enterprises by 58.8% during the 4th quarter. Towarzystwo Funduszy Inwestycyjnych PZU SA now owns 2,700 shares of the company’s stock valued at $31,000 after buying an additional 1,000 shares during the last quarter. Danske Bank A S bought a new position in shares of Eos Energy Enterprises during the 4th quarter valued at $33,000. TD Waterhouse Canada Inc. lifted its holdings in shares of Eos Energy Enterprises by 178.7% during the 4th quarter. TD Waterhouse Canada Inc. now owns 3,119 shares of the company’s stock valued at $36,000 after buying an additional 2,000 shares during the period. Finally, GAMMA Investing LLC boosted its stake in shares of Eos Energy Enterprises by 46.4% in the 4th quarter. GAMMA Investing LLC now owns 3,270 shares of the company’s stock worth $37,000 after buying an additional 1,036 shares during the last quarter. Institutional investors own 54.87% of the company’s stock.

Insider Activity at Eos Energy Enterprises

In other news, Director Marian Walters sold 7,681 shares of the business’s stock in a transaction on Tuesday, May 19th. The shares were sold at an average price of $7.07, for a total value of $54,304.67. Following the transaction, the director owned 135,334 shares of the company’s stock, valued at approximately $956,811.38. The trade was a 5.37% decrease in their ownership of the stock. The transaction was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. Also, insider Michelle Buczkowski sold 11,469 shares of the company’s stock in a transaction on Tuesday, June 30th. The stock was sold at an average price of $5.87, for a total transaction of $67,323.03. Following the transaction, the insider owned 59,242 shares of the company’s stock, valued at approximately $347,750.54. This represents a 16.22% decrease in their position. The SEC filing for this sale provides additional information. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. The sale was made to cover tax withholding obligations related to the vesting of equity awards. Insiders have sold 157,569 shares of company stock worth $839,328 in the last three months. Corporate insiders own 1.73% of the company’s stock.

Eos Energy Enterprises Stock Performance

Shares of EOSE stock opened at $3.61 on Tuesday. Eos Energy Enterprises, Inc. has a 52-week low of $3.36 and a 52-week high of $19.86. The firm has a market capitalization of $1.23 billion, a PE ratio of -0.54 and a beta of 2.68. The stock has a fifty day simple moving average of $6.19 and a two-hundred day simple moving average of $8.21.

Eos Energy Enterprises (NASDAQ:EOSE) last announced its quarterly earnings data on Wednesday, May 13th. The company reported $0.12 EPS for the quarter, beating the consensus estimate of ($0.22) by $0.34. The business had revenue of $56.96 million during the quarter, compared to analysts’ expectations of $54.32 million. On average, sell-side analysts forecast that Eos Energy Enterprises, Inc. will post -0.32 EPS for the current fiscal year.

Analyst Upgrades and Downgrades

Several brokerages recently commented on EOSE. Wall Street Zen lowered Eos Energy Enterprises from a “hold” rating to a “sell” rating in a report on Saturday, July 4th. TD Cowen raised their target price on Eos Energy Enterprises from $7.00 to $8.00 and gave the stock a “hold” rating in a research report on Thursday, May 14th. Needham & Company LLC assumed coverage on Eos Energy Enterprises in a research note on Friday, May 22nd. They set a “buy” rating and a $11.00 price target for the company. Truist Financial started coverage on shares of Eos Energy Enterprises in a research report on Monday, July 13th. They set a “buy” rating and a $7.00 price target for the company. Finally, Zacks Research upgraded shares of Eos Energy Enterprises from a “strong sell” rating to a “hold” rating in a research note on Tuesday, April 28th. One investment analyst has rated the stock with a Strong Buy rating, two have given a Buy rating, seven have assigned a Hold rating and one has assigned a Sell rating to the company’s stock. According to data from MarketBeat.com, Eos Energy Enterprises currently has an average rating of “Hold” and an average target price of $9.17.

Eos Energy Enterprises Profile

Eos Energy Enterprises specializes in the development and deployment of scalable, long-duration energy storage systems designed to support the integration of renewable power and enhance grid reliability. The company’s core technology centers on its proprietary zinc hybrid cathode (Znyth™) battery platform, which aims to deliver safe, low-cost, and durable performance for utility, commercial and industrial, and microgrid applications.

The company’s flagship product, the Aurora™ energy storage system, combines its Znyth™ cells with modular power conversion and controls to offer flexible capacity ranging from one to three hours of discharge duration.