Eos Energy Enterprises (NASDAQ:EOSE) Cut to Hold at Roth Capital

Roth Capital cut shares of Eos Energy Enterprises (NASDAQ:EOSE) from a strong-buy rating to a hold rating in a research note released on Thursday morning,Zacks.com reports.

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

Eos Energy Enterprises Price Performance

EOSE stock opened at $4.75 on Thursday. The company’s 50 day simple moving average is $5.17 and its 200-day simple moving average is $3.52. The firm has a market capitalization of $1.04 billion, a PE ratio of -1.97 and a beta of 2.10. Eos Energy Enterprises has a 12 month low of $0.61 and a 12 month high of $6.64.

Hedge Funds Weigh In On Eos Energy Enterprises

Institutional investors and hedge funds have recently modified their holdings of the company. Geode Capital Management LLC lifted its stake in shares of Eos Energy Enterprises by 18.0% during the third quarter. Geode Capital Management LLC now owns 2,468,648 shares of the company’s stock valued at $7,335,000 after buying an additional 376,494 shares during the period. Tidal Investments LLC purchased a new position in shares of Eos Energy Enterprises during the third quarter valued at approximately $993,000. State Street Corp lifted its stake in shares of Eos Energy Enterprises by 9.5% during the third quarter. State Street Corp now owns 875,439 shares of the company’s stock valued at $2,600,000 after buying an additional 75,657 shares during the period. Stephens Inc. AR purchased a new position in shares of Eos Energy Enterprises during the fourth quarter valued at approximately $64,000. Finally, FMR LLC lifted its stake in shares of Eos Energy Enterprises by 67.8% during the third quarter. FMR LLC now owns 58,651 shares of the company’s stock valued at $174,000 after buying an additional 23,706 shares during the period. Hedge funds and other institutional investors 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.