Electron Capital Partners LLC Sells 2,237,222 Shares of Eos Energy Enterprises, Inc. (NASDAQ:EOSE)

Electron Capital Partners LLC cut its stake in Eos Energy Enterprises, Inc. (NASDAQ:EOSE) by 28.1% in the 4th quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The fund owned 5,722,916 shares of the company’s stock after selling 2,237,222 shares during the quarter. Eos Energy Enterprises accounts for about 1.4% of Electron Capital Partners LLC’s portfolio, making the stock its 19th biggest position. Electron Capital Partners LLC owned approximately 2.63% of Eos Energy Enterprises worth $27,813,000 as of its most recent filing with the Securities & Exchange Commission.

A number of other institutional investors have also added to or reduced their stakes in EOSE. WESPAC Advisors LLC grew its holdings in shares of Eos Energy Enterprises by 16.6% during the fourth quarter. WESPAC Advisors LLC now owns 12,647 shares of the company’s stock worth $61,000 after purchasing an additional 1,798 shares in the last quarter. Wells Fargo & Company MN increased its stake in shares of Eos Energy Enterprises by 3.6% during the fourth quarter. Wells Fargo & Company MN now owns 62,075 shares of the company’s stock valued at $302,000 after buying an additional 2,175 shares during the period. Montag A & Associates Inc. boosted its stake in shares of Eos Energy Enterprises by 21.0% during the 4th quarter. Montag A & Associates Inc. now owns 13,809 shares of the company’s stock valued at $67,000 after purchasing an additional 2,400 shares in the last quarter. Parkside Financial Bank & Trust purchased a new position in Eos Energy Enterprises during the fourth quarter valued at $29,000. Finally, R Squared Ltd purchased a new stake in shares of Eos Energy Enterprises in the 4th quarter worth approximately $31,000. 54.87% of the stock is owned by institutional investors.

Eos Energy Enterprises Stock Performance

Shares of EOSE opened at $5.48 on Tuesday. The company’s 50-day simple moving average is $4.26 and its 200-day simple moving average is $4.16. The stock has a market capitalization of $1.24 billion, a PE ratio of -2.27 and a beta of 2.17. Eos Energy Enterprises, Inc. has a 1 year low of $0.61 and a 1 year high of $6.64.

Wall Street Analysts Forecast Growth

Several research firms recently commented on EOSE. Roth Mkm downgraded Eos Energy Enterprises from a “buy” rating to a “neutral” rating and lifted their price objective for the stock from $4.00 to $5.00 in a report on Thursday, February 20th. Cowen reaffirmed a “hold” rating on shares of Eos Energy Enterprises in a research note on Friday, March 7th. Guggenheim reaffirmed a “buy” rating and issued a $7.00 price objective on shares of Eos Energy Enterprises in a research report on Tuesday, March 18th. Finally, Roth Capital lowered Eos Energy Enterprises from a “strong-buy” rating to a “hold” rating in a research report on Thursday, February 20th. Five research analysts have rated the stock with a hold rating and three have given a buy rating to the company. Based on data from MarketBeat, the company has a consensus rating of “Hold” and a consensus price target of $4.70.

About Eos Energy Enterprises

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.