Eos Energy Enterprises (NASDAQ:EOSE) Downgraded to Neutral Rating by Roth Mkm

Roth Mkm downgraded shares of Eos Energy Enterprises (NASDAQ:EOSE) from a buy rating to a neutral rating in a research note issued to investors on Thursday morning, MarketBeat reports. The brokerage currently has $5.00 price objective on the stock, up from their prior price objective of $4.00.

Eos Energy Enterprises Stock Down 1.5 %

Shares of EOSE stock opened at $4.75 on Thursday. The stock’s 50-day moving average price is $5.17 and its 200 day moving average price is $3.52. The stock 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 52-week low of $0.61 and a 52-week high of $6.64.

Institutional Inflows and Outflows

Institutional investors have recently modified their holdings of the stock. Hollencrest Capital Management grew 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 valued at $25,000 after buying an additional 7,500 shares during the last quarter. Parkside Financial Bank & Trust purchased a new position in shares of Eos Energy Enterprises in the fourth quarter valued at $29,000. R Squared Ltd purchased a new position in Eos Energy Enterprises during the 4th quarter valued at about $31,000. WESPAC Advisors LLC acquired a new position in shares of Eos Energy Enterprises during the 3rd quarter worth approximately $32,000. Finally, Focused Wealth Management Inc acquired a new position in shares of Eos Energy Enterprises in the third quarter worth $46,000. Institutional investors and hedge funds 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.