Electron Capital Partners LLC Trims Stake in Eos Energy Enterprises, Inc. $EOSE

Key Points

• Electron Capital Partners LLC has decreased its holdings in Eos Energy Enterprises, Inc. by 12.8%, selling 732,638 shares during the first quarter, now owning approximately 4,990,278 shares.
• Research analysts have mixed views on Eos Energy, with a downgrade from a "hold" to a "sell" rating by Wall Street Zen, while TD Cowen has increased the price target from $5.50 to $6.00.
• Insider trading activity includes Director Marian Walters selling 50,000 shares for $395,000, resulting in a significant decrease in their ownership position by 27.20%.

Electron Capital Partners LLC trimmed its position in shares of Eos Energy Enterprises, Inc. (NASDAQ:EOSE - Free Report) by 12.8% in the 1st quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission. The firm owned 4,990,278 shares of the company's stock after selling 732,638 shares during the period. Eos Energy Enterprises accounts for approximately 1.2% of Electron Capital Partners LLC's portfolio, making the stock its 19th largest holding. Electron Capital Partners LLC owned 2.20% of Eos Energy Enterprises worth $18,863,000 at the end of the most recent reporting period.

A number of other large investors have also recently made changes to their positions in EOSE. Driehaus Capital Management LLC bought a new position in shares of Eos Energy Enterprises in the first quarter worth $13,456,000. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. bought a new position in shares of Eos Energy Enterprises in the fourth quarter worth $16,632,000. American Financial Group Inc. boosted its holdings in shares of Eos Energy Enterprises by 174.0% in the first quarter. American Financial Group Inc. now owns 1,861,930 shares of the company's stock worth $7,038,000 after acquiring an additional 1,182,310 shares during the period. UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC bought a new position in shares of Eos Energy Enterprises in the fourth quarter worth $1,581,000. Finally, Schonfeld Strategic Advisors LLC bought a new position in shares of Eos Energy Enterprises in the fourth quarter worth $1,310,000. 54.87% of the stock is owned by institutional investors.

Insider Buying and Selling

In other news, CAO Sumeet Puri sold 40,501 shares of the business's stock in a transaction dated Monday, September 8th. The stock was sold at an average price of $7.11, for a total value of $287,962.11. Following the completion of the sale, the chief accounting officer owned 164,290 shares of the company's stock, valued at approximately $1,168,101.90. The trade was a 19.78% decrease in their position. The transaction was disclosed in a legal filing with the SEC, which is accessible through this link. Also, Director Marian Walters sold 50,000 shares of the business's stock in a transaction dated Wednesday, September 3rd. The shares were sold at an average price of $7.90, for a total value of $395,000.00. Following the transaction, the director owned 133,794 shares in the company, valued at approximately $1,056,972.60. This represents a 27.20% decrease in their position. The disclosure for this sale can be found here. Insiders have sold a total of 683,198 shares of company stock worth $4,010,778 in the last 90 days. 3.30% of the stock is currently owned by company insiders.

Analyst Upgrades and Downgrades

Several equities research analysts recently issued reports on the company. Guggenheim lifted their price objective on Eos Energy Enterprises from $6.00 to $10.00 and gave the company a "buy" rating in a research note on Friday. Wall Street Zen lowered Eos Energy Enterprises from a "hold" rating to a "sell" rating in a research note on Sunday, August 3rd. TD Cowen lifted their price objective on Eos Energy Enterprises from $5.50 to $6.00 and gave the company a "hold" rating in a research note on Friday, August 1st. Jefferies Financial Group assumed coverage on Eos Energy Enterprises in a research note on Friday. They set a "hold" rating and a $6.50 price objective for the company. Finally, Stifel Nicolaus dropped their price objective on Eos Energy Enterprises from $9.00 to $8.50 and set a "buy" rating for the company in a research note on Monday, June 9th. Two analysts have rated the stock with a Buy rating and five have assigned a Hold rating to the company. According to MarketBeat, the stock presently has a consensus rating of "Hold" and an average price target of $7.20.

Eos Energy Enterprises Price Performance

EOSE stock traded down $0.34 during mid-day trading on Monday, hitting $6.87. 14,744,565 shares of the stock were exchanged, compared to its average volume of 10,691,135. Eos Energy Enterprises, Inc. has a 12 month low of $2.06 and a 12 month high of $8.09. The business has a fifty day moving average price of $6.01 and a 200 day moving average price of $5.14. The stock has a market capitalization of $1.79 billion, a price-to-earnings ratio of -1.32 and a beta of 2.16.

Eos Energy Enterprises (NASDAQ:EOSE - Get Free Report) last released its earnings results on Wednesday, July 30th. The company reported ($1.05) earnings per share for the quarter, missing analysts' consensus estimates of ($0.17) by ($0.88). The firm had revenue of $15.24 million during the quarter, compared to the consensus estimate of $24.96 million. Eos Energy Enterprises has set its FY 2025 guidance at EPS. As a group, equities analysts forecast that Eos Energy Enterprises, Inc. will post -2.54 EPS for the current fiscal year.

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.