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

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

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

Eos Energy Enterprises Trading Down 1.5 %

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

Institutional Investors Weigh In On Eos Energy Enterprises

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

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.