Eos Energy Enterprises, Inc. (NASDAQ:EOSE - Get Free Report)'s stock price shot up 4.9% on Tuesday . The company traded as high as $3.97 and last traded at $3.97. 2,263,732 shares traded hands during mid-day trading, a decline of 69% from the average session volume of 7,352,384 shares. The stock had previously closed at $3.78.
Wall Street Analyst Weigh In
EOSE has been the subject of several recent analyst reports. Roth Mkm downgraded Eos Energy Enterprises from a "buy" rating to a "neutral" rating and upped their price target for the stock from $4.00 to $5.00 in a research note on Thursday, February 20th. Guggenheim restated a "buy" rating and issued a $7.00 price objective on shares of Eos Energy Enterprises in a research note on Tuesday, March 18th. Roth Capital lowered shares of Eos Energy Enterprises from a "strong-buy" rating to a "hold" rating in a research report on Thursday, February 20th. Finally, Cowen reaffirmed a "hold" rating on shares of Eos Energy Enterprises in a research report on Friday, March 7th. Five equities research analysts have rated the stock with a hold rating and three have given a buy rating to the stock. Based on data from MarketBeat.com, the company presently has a consensus rating of "Hold" and an average price target of $4.70.
Read Our Latest Stock Report on EOSE
Eos Energy Enterprises Stock Performance
The firm has a market capitalization of $865.61 million, a price-to-earnings ratio of -1.59 and a beta of 2.17. The firm's 50-day moving average price is $4.61 and its two-hundred day moving average price is $3.95.
Hedge Funds Weigh In On Eos Energy Enterprises
Several hedge funds and other institutional investors have recently modified their holdings of the stock. Legal & General Group Plc grew its position in Eos Energy Enterprises by 61,220.5% in the fourth quarter. Legal & General Group Plc now owns 4,804,461 shares of the company's stock valued at $23,350,000 after acquiring an additional 4,796,626 shares during the period. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. bought a new position in Eos Energy Enterprises during the 4th quarter valued at about $16,632,000. Alyeska Investment Group L.P. grew its stake 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 last quarter. Barings LLC increased its holdings in shares of 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 in the last quarter. Finally, Marshall Wace LLP raised its stake in shares of Eos Energy Enterprises by 154.6% in the fourth quarter. Marshall Wace LLP now owns 893,818 shares of the company's stock valued at $4,344,000 after acquiring an additional 542,718 shares during the last quarter. Institutional investors own 54.87% of the company's stock.
About Eos Energy Enterprises
(
Get Free Report)
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.
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