Eos Energy Enterprises, Inc. (NASDAQ:EOSE) Holdings Boosted by Legal & General Group Plc

Legal & General Group Plc raised its stake in Eos Energy Enterprises, Inc. (NASDAQ:EOSE - Free Report) by 61,220.5% during the fourth quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 4,804,461 shares of the company's stock after purchasing an additional 4,796,626 shares during the period. Legal & General Group Plc owned about 2.20% of Eos Energy Enterprises worth $23,350,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

Several other hedge funds have also recently added to or reduced their stakes in the company. Barings LLC increased its position in 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 during the period. Swiss National Bank purchased a new position in shares of Eos Energy Enterprises during the fourth quarter worth approximately $2,071,000. Geode Capital Management LLC increased its holdings in shares of Eos Energy Enterprises by 18.0% in the 3rd quarter. Geode Capital Management LLC now owns 2,468,648 shares of the company's stock valued at $7,335,000 after acquiring an additional 376,494 shares during the period. Tidal Investments LLC acquired a new position in shares of Eos Energy Enterprises in the 3rd quarter valued at $993,000. Finally, FourThought Financial Partners LLC purchased a new stake in Eos Energy Enterprises in the 4th quarter valued at $1,335,000. Institutional investors and hedge funds own 54.87% of the company's stock.

Wall Street Analysts Forecast Growth

Several equities analysts recently issued reports on the company. Guggenheim restated a "buy" rating and issued a $7.00 price target on shares of Eos Energy Enterprises in a research report on Tuesday, March 18th. Roth Capital lowered Eos Energy Enterprises from a "strong-buy" rating to a "hold" rating in a report on Thursday, February 20th. Roth Mkm downgraded Eos Energy Enterprises from a "buy" rating to a "neutral" rating and increased their price target for the stock from $4.00 to $5.00 in a report on Thursday, February 20th. Finally, Cowen reissued a "hold" rating on shares of Eos Energy Enterprises in a research note 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 company's stock. According to data from MarketBeat.com, the company presently has an average rating of "Hold" and an average target price of $4.70.

Eos Energy Enterprises Price Performance

NASDAQ EOSE traded down $0.15 during trading hours on Friday, hitting $4.75. The company had a trading volume of 5,609,380 shares, compared to its average volume of 7,437,240. Eos Energy Enterprises, Inc. has a fifty-two week low of $0.61 and a fifty-two week high of $6.64. The firm's 50 day moving average is $4.27 and its 200 day moving average is $4.06. The company has a market capitalization of $1.08 billion, a price-to-earnings ratio of -1.97 and a beta of 2.17.

Eos Energy Enterprises 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.