Electron Capital Partners LLC decreased its holdings in shares of Eos Energy Enterprises, Inc. (NASDAQ:EOSE – Free Report) by 7.2% in the 4th quarter, Holdings Channel.com reports. The firm owned 6,121,896 shares of the company’s stock after selling 472,805 shares during the quarter. Eos Energy Enterprises makes up about 3.3% of Electron Capital Partners LLC’s portfolio, making the stock its 11th largest position. Electron Capital Partners LLC’s holdings in Eos Energy Enterprises were worth $70,157,000 at the end of the most recent reporting period.
A number of other hedge funds and other institutional investors have also recently added to or reduced their stakes in EOSE. PNC Financial Services Group Inc. increased its position in Eos Energy Enterprises by 3,843.8% in the 4th quarter. PNC Financial Services Group Inc. now owns 2,524 shares of the company’s stock worth $29,000 after buying an additional 2,460 shares during the period. Towarzystwo Funduszy Inwestycyjnych PZU SA increased its position in Eos Energy Enterprises by 58.8% during the fourth quarter. Towarzystwo Funduszy Inwestycyjnych PZU SA now owns 2,700 shares of the company’s stock worth $31,000 after acquiring an additional 1,000 shares during the period. Danske Bank A S bought a new position in Eos Energy Enterprises during the fourth quarter worth $33,000. TD Waterhouse Canada Inc. raised its stake in 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 purchasing an additional 2,000 shares during the last quarter. Finally, GAMMA Investing LLC raised its stake in Eos Energy Enterprises by 46.4% during the 4th quarter. GAMMA Investing LLC now owns 3,270 shares of the company’s stock valued at $37,000 after purchasing an additional 1,036 shares during the last quarter. Institutional investors and hedge funds own 54.87% of the company’s stock.
Eos Energy Enterprises Stock Performance
NASDAQ:EOSE opened at $7.60 on Thursday. The company has a 50-day moving average of $7.20 and a 200-day moving average of $9.84. Eos Energy Enterprises, Inc. has a 52 week low of $4.18 and a 52 week high of $19.86. The company has a market capitalization of $2.58 billion, a price-to-earnings ratio of -1.14 and a beta of 2.62.
Wall Street Analyst Weigh In
Several analysts have issued reports on the stock. Zacks Research upgraded shares of Eos Energy Enterprises from a “strong sell” rating to a “hold” rating in a research report on Tuesday, April 28th. JPMorgan Chase & Co. reduced their target price on shares of Eos Energy Enterprises from $9.00 to $6.00 and set a “neutral” rating for the company in a research note on Thursday, April 16th. B. Riley Financial decreased their target price on Eos Energy Enterprises from $12.00 to $8.00 and set a “neutral” rating on the stock in a research report on Thursday, March 5th. Needham & Company LLC started coverage on Eos Energy Enterprises in a research note on Friday, May 22nd. They set a “buy” rating and a $11.00 price target on the stock. Finally, Roth Mkm cut their price target on Eos Energy Enterprises from $12.00 to $6.00 and set a “neutral” rating for the company in a report on Friday, February 27th. Two investment analysts have rated the stock with a Buy rating, seven have issued a Hold rating and one has assigned a Sell rating to the stock. According to MarketBeat, Eos Energy Enterprises has a consensus rating of “Hold” and an average target price of $10.94.
Check Out Our Latest Research Report on EOSE
Insider Buying and Selling at Eos Energy Enterprises
In other news, Director Marian Walters sold 7,681 shares of the company’s stock in a transaction that occurred on Tuesday, May 19th. The stock was sold at an average price of $7.07, for a total value of $54,304.67. Following the sale, the director directly owned 135,334 shares in the company, valued at approximately $956,811.38. This represents a 5.37% decrease in their position. The transaction was disclosed in a document filed with the SEC, which is accessible through this link. Corporate insiders own 1.73% of the company’s stock.
About Eos Energy Enterprises
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.
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