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

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

Separately, Roth Mkm cut shares of 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 report on Thursday. Four research analysts have rated the stock with a hold rating and three have issued a buy rating to the stock. According to data from MarketBeat, the stock currently has a consensus rating of “Hold” and a consensus price target of $4.10.

Eos Energy Enterprises Stock Performance

Shares of NASDAQ:EOSE opened at $4.75 on Thursday. The company has a 50-day simple moving average of $5.17 and a 200-day simple moving average of $3.52. Eos Energy Enterprises has a one year low of $0.61 and a one year high of $6.64. The stock has a market capitalization of $1.04 billion, a price-to-earnings ratio of -1.97 and a beta of 2.10.

Institutional Inflows and Outflows

A number of institutional investors and hedge funds have recently made changes to their positions in EOSE. Legal & General Group Plc increased its stake in shares of 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 acquiring an additional 4,796,626 shares during the period. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. acquired a new position in Eos Energy Enterprises during the fourth quarter worth about $16,632,000. Brightline Capital Management LLC acquired a new position in Eos Energy Enterprises during the third quarter worth about $4,871,000. Alyeska Investment Group L.P. grew its position in Eos Energy Enterprises by 714.3% during the fourth quarter. Alyeska Investment Group L.P. now owns 1,628,500 shares of the company’s stock worth $7,915,000 after buying an additional 1,428,500 shares during the period. Finally, Barings LLC grew 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 buying an additional 1,204,430 shares during the period. 54.87% of the stock is currently owned by institutional investors and hedge funds.

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.