Eos Energy Enterprises, Inc. (NASDAQ:EOSE) Shares Sold by Electron Capital Partners LLC

Electron Capital Partners LLC lowered its position in shares of Eos Energy Enterprises, Inc. (NASDAQ:EOSE) by 17.7% during the second quarter, according to its most recent Form 13F filing with the SEC. The institutional investor owned 5,802,362 shares of the company’s stock after selling 1,249,222 shares during the period. Electron Capital Partners LLC owned about 2.79% of Eos Energy Enterprises worth $7,369,000 at the end of the most recent reporting period.

Other institutional investors have also modified their holdings of the company. Price T Rowe Associates Inc. MD increased its stake in Eos Energy Enterprises by 74.4% in the 1st quarter. Price T Rowe Associates Inc. MD now owns 43,930 shares of the company’s stock valued at $46,000 after buying an additional 18,735 shares during the period. Cullen Frost Bankers Inc. increased its position 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. American International Group Inc. lifted its stake in shares of Eos Energy Enterprises by 41.2% during the first quarter. American International Group Inc. now owns 75,555 shares of the company’s stock valued at $78,000 after buying an additional 22,056 shares during the period. Powell Investment Advisors LLC increased its stake in 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 during the last quarter. Finally, Ground Swell Capital LLC acquired a new position in shares of Eos Energy Enterprises during the 2nd quarter valued at about $34,000. 54.87% of the stock is owned by institutional investors and hedge funds.

Wall Street Analyst Weigh In

A number of brokerages have weighed in on EOSE. Roth Mkm reaffirmed a “buy” rating and set a $4.50 price target on shares of Eos Energy Enterprises in a research report on Friday, June 28th. B. Riley upgraded shares of Eos Energy Enterprises to a “hold” rating in a research note on Tuesday, June 25th. Finally, Stifel Nicolaus reaffirmed a “buy” rating and set a $6.00 target price on shares of Eos Energy Enterprises in a report on Wednesday, August 21st. Two research analysts have rated the stock with a hold rating and five have given a buy rating to the company’s stock. According to data from MarketBeat, the stock currently has an average rating of “Moderate Buy” and an average price target of $3.67.

Insider Activity

In other Eos Energy Enterprises news, Director Jeffrey S. Bornstein sold 30,000 shares of the business’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 sale, the director now directly owns 84,929 shares of the company’s stock, valued at approximately $222,513.98. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available at this link. In related news, CEO Joe Mastrangelo acquired 52,800 shares of the company’s stock in a transaction that occurred on 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 purchase, the chief executive officer now directly owns 909,793 shares in the company, valued at $1,301,003.99. The purchase was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. Also, Director Jeffrey S. Bornstein sold 30,000 shares of the business’s stock in a transaction that occurred on Thursday, September 12th. The stock was sold at an average price of $2.62, for a total transaction of $78,600.00. Following the sale, the director now directly owns 84,929 shares in the company, valued at $222,513.98. The disclosure for this sale can be found here. 4.06% of the stock is currently owned by company insiders.

Eos Energy Enterprises Trading Down 3.9 %

Shares of NASDAQ EOSE opened at $2.48 on Thursday. Eos Energy Enterprises, Inc. has a one year low of $0.61 and a one year high of $2.81. The firm has a market capitalization of $537.44 million, a price-to-earnings ratio of -1.59 and a beta of 2.39. The business has a fifty day simple moving average of $2.14 and a 200 day simple moving average of $1.40.

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 company had revenue of $0.90 million for the quarter, compared to analysts’ expectations of $4.38 million. On average, research analysts anticipate that Eos Energy Enterprises, Inc. will post -0.78 earnings per share for the current fiscal year.

Eos Energy Enterprises Company 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.