Eos Energy Enterprises (NASDAQ:EOSE) Trading Down 12.3% – Here’s What Happened

Eos Energy Enterprises, Inc. (NASDAQ:EOSE) traded down 12.3% on Monday . The company traded as low as $4.02 and last traded at $4.04. 1,412,107 shares were traded during trading, a decline of 81% from the average session volume of 7,402,357 shares. The stock had previously closed at $4.60.

Analyst Ratings Changes

Several equities research analysts have weighed in on EOSE shares. Cowen reaffirmed a “hold” rating on shares of Eos Energy Enterprises in a research note on Friday. Roth Capital lowered shares of Eos Energy Enterprises from a “strong-buy” rating to a “hold” rating in a research note on Thursday, February 20th. Finally, Roth Mkm lowered shares of Eos Energy Enterprises from a “buy” rating to a “neutral” rating and raised their price objective for the company from $4.00 to $5.00 in a research note on Thursday, February 20th. Five research analysts have rated the stock with a hold rating and two have given a buy rating to the company. According to MarketBeat, Eos Energy Enterprises presently has an average rating of “Hold” and a consensus target price of $4.13.

Eos Energy Enterprises Stock Down 14.5 %

The company has a market capitalization of $856.61 million, a P/E ratio of -1.63 and a beta of 2.15. The business’s 50-day moving average is $5.15 and its two-hundred day moving average is $3.74.

Hedge Funds Weigh In On Eos Energy Enterprises

A number of hedge funds and other institutional investors have recently modified their holdings of EOSE. B. Riley Wealth Advisors Inc. lifted its holdings in Eos Energy Enterprises by 245.1% during the fourth quarter. B. Riley Wealth Advisors Inc. now owns 187,750 shares of the company’s stock worth $912,000 after acquiring an additional 133,350 shares during the period. Alpine Global Management LLC purchased a new position in Eos Energy Enterprises in the fourth quarter valued at about $236,000. UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC purchased a new stake in Eos Energy Enterprises in the fourth quarter worth $1,581,000. Williams Jones Wealth Management LLC. bought a new stake in shares of Eos Energy Enterprises in the fourth quarter valued at $158,000. Finally, ProShare Advisors LLC bought a new stake in Eos Energy Enterprises in the 4th quarter valued at about $232,000. 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.