Tidal Investments LLC Sells 115,683 Shares of Eos Energy Enterprises, Inc. (NASDAQ:EOSE)

Tidal Investments LLC decreased its stake in Eos Energy Enterprises, Inc. (NASDAQ:EOSE - Free Report) by 34.6% in the 4th quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 218,762 shares of the company's stock after selling 115,683 shares during the period. Tidal Investments LLC owned 0.10% of Eos Energy Enterprises worth $1,063,000 at the end of the most recent quarter.

Other institutional investors have also recently made changes to their positions in the company. Legal & General Group Plc grew its holdings in Eos Energy Enterprises by 61,220.5% during the fourth quarter. Legal & General Group Plc now owns 4,804,461 shares of the company's stock worth $23,350,000 after purchasing an additional 4,796,626 shares during the period. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. bought a new stake in Eos Energy Enterprises in the 4th quarter valued at $16,632,000. Alyeska Investment Group L.P. lifted its holdings in Eos Energy Enterprises by 714.3% during the 4th quarter. Alyeska Investment Group L.P. now owns 1,628,500 shares of the company's stock valued at $7,915,000 after purchasing an additional 1,428,500 shares during the last quarter. Barings LLC boosted its position in Eos Energy Enterprises by 100.5% during the fourth quarter. Barings LLC now owns 2,403,448 shares of the company's stock worth $11,681,000 after purchasing an additional 1,204,430 shares during the period. Finally, Marshall Wace LLP raised its position in shares of Eos Energy Enterprises by 154.6% in the fourth quarter. Marshall Wace LLP now owns 893,818 shares of the company's stock valued at $4,344,000 after purchasing an additional 542,718 shares during the period. Institutional investors and hedge funds own 54.87% of the company's stock.

Insiders Place Their Bets

In other news, CEO Joe Mastrangelo sold 270,384 shares of the business's stock in a transaction dated Friday, May 16th. The stock was sold at an average price of $6.86, for a total transaction of $1,854,834.24. Following the sale, the chief executive officer now directly owns 1,109,409 shares in the company, valued at approximately $7,610,545.74. The trade was a 19.60% decrease in their ownership of the stock. The transaction was disclosed in a document filed with the SEC, which is accessible through the SEC website. Also, CAO Sumeet Puri sold 36,173 shares of the company's stock in a transaction that occurred on Friday, May 16th. The shares were sold at an average price of $6.86, for a total value of $248,146.78. Following the completion of the transaction, the chief accounting officer now directly owns 95,624 shares of the company's stock, valued at $655,980.64. This represents a 27.45% decrease in their position. The disclosure for this sale can be found here. Over the last quarter, insiders have sold 560,356 shares of company stock valued at $3,844,042. 3.63% of the stock is currently owned by insiders.

Eos Energy Enterprises Trading Down 7.7%

NASDAQ EOSE traded down $0.35 during midday trading on Friday, hitting $4.17. The company had a trading volume of 33,613,108 shares, compared to its average volume of 8,129,873. The company has a market capitalization of $949.05 million, a PE ratio of -1.74 and a beta of 2.11. The firm has a 50-day moving average price of $5.06 and a 200-day moving average price of $4.60. Eos Energy Enterprises, Inc. has a twelve month low of $0.66 and a twelve month high of $7.36.

Eos Energy Enterprises (NASDAQ:EOSE - Get Free Report) last issued its earnings results on Tuesday, May 6th. The company reported ($0.20) earnings per share for the quarter, missing analysts' consensus estimates of ($0.19) by ($0.01). The business had revenue of $10.46 million during the quarter, compared to analysts' expectations of $11.77 million. On average, equities analysts anticipate that Eos Energy Enterprises, Inc. will post -2.54 EPS for the current year.

Wall Street Analyst Weigh In

EOSE has been the subject of several research analyst reports. Guggenheim reaffirmed a "buy" rating and set a $7.00 target price on shares of Eos Energy Enterprises in a report on Tuesday, March 18th. Roth Mkm downgraded Eos Energy Enterprises from a "buy" rating to a "neutral" rating and upped their target price for the company from $4.00 to $5.00 in a research report on Thursday, February 20th. Cowen reissued a "hold" rating on shares of Eos Energy Enterprises in a report on Friday, March 7th. Finally, Roth Capital downgraded Eos Energy Enterprises from a "strong-buy" rating to a "hold" rating in a research note on Thursday, February 20th. Four equities research analysts have rated the stock with a hold rating and two have assigned a buy rating to the stock. According to MarketBeat, the company presently has a consensus rating of "Hold" and an average target price of $6.00.

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.