Eos Energy Enterprises (NASDAQ:EOSE) Shares Down 12.3% – What’s Next?

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

Analyst Upgrades and Downgrades

A number of analysts have weighed in on EOSE shares. Roth Mkm lowered Eos Energy Enterprises from a “buy” rating to a “neutral” rating and increased their target price for the stock from $4.00 to $5.00 in a research note on Thursday, February 20th. Cowen reiterated a “hold” rating on shares of Eos Energy Enterprises in a research note on Friday. Finally, Roth Capital lowered Eos Energy Enterprises from a “strong-buy” rating to a “hold” rating in a research note on Thursday, February 20th. Five equities research analysts have rated the stock with a hold rating and two have issued a buy rating to the company’s stock. Based on data from MarketBeat.com, Eos Energy Enterprises has a consensus rating of “Hold” and a consensus price target of $4.13.

Eos Energy Enterprises Price Performance

The business has a 50-day moving average of $5.11 and a two-hundred day moving average of $3.77. The company has a market cap of $860.75 million, a P/E ratio of -1.64 and a beta of 2.15.

Institutional Investors Weigh In On Eos Energy Enterprises

A number of institutional investors have recently added to or reduced their stakes in EOSE. Mesirow Financial Investment Management Inc. bought a new stake in Eos Energy Enterprises during the third quarter valued at about $174,000. SCP Investment LP acquired a new stake in Eos Energy Enterprises in the third quarter worth about $80,000. Meridian Wealth Management LLC acquired a new stake in Eos Energy Enterprises in the third quarter worth about $233,000. WESPAC Advisors LLC acquired a new stake in Eos Energy Enterprises in the third quarter worth about $32,000. Finally, FMR LLC boosted its holdings in Eos Energy Enterprises by 67.8% in the third quarter. FMR LLC now owns 58,651 shares of the company’s stock worth $174,000 after acquiring an additional 23,706 shares in the last quarter. 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.