Eos Energy Enterprises (NASDAQ:EOSE) Lowered to Hold Rating by Roth Capital

Eos Energy Enterprises (NASDAQ:EOSE) was downgraded by research analysts at Roth Capital from a “strong-buy” rating to a “hold” rating in a research note issued to investors on Thursday,Zacks.com reports.

Separately, Roth Mkm lowered shares of Eos Energy Enterprises from a “buy” rating to a “neutral” rating and upped their price objective for the company from $4.00 to $5.00 in a research report on Thursday. Four analysts have rated the stock with a hold rating and three have given a buy rating to the stock. According to MarketBeat, Eos Energy Enterprises presently has an average rating of “Hold” and an average price target of $4.10.

Eos Energy Enterprises Stock Performance

Shares of NASDAQ:EOSE opened at $4.75 on Thursday. The stock’s 50-day moving average is $5.17 and its 200-day moving average is $3.52. The company has a market cap of $1.04 billion, a P/E ratio of -1.97 and a beta of 2.10. Eos Energy Enterprises has a 52-week low of $0.61 and a 52-week high of $6.64.

Institutional Investors Weigh In On Eos Energy Enterprises

Hedge funds and other institutional investors have recently added to or reduced their stakes in the stock. Hollencrest Capital Management raised its position in Eos Energy Enterprises by 1,000.0% in the 3rd quarter. Hollencrest Capital Management now owns 8,250 shares of the company’s stock worth $25,000 after purchasing an additional 7,500 shares during the last quarter. Parkside Financial Bank & Trust acquired a new stake in shares of Eos Energy Enterprises in the 4th quarter valued at $29,000. R Squared Ltd bought a new stake in shares of Eos Energy Enterprises during the fourth quarter worth $31,000. WESPAC Advisors LLC acquired a new position in shares of Eos Energy Enterprises during the third quarter valued at $32,000. Finally, Focused Wealth Management Inc bought a new position in Eos Energy Enterprises in the third quarter valued at about $46,000. Institutional investors and hedge funds own 54.87% of the company’s stock.

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.