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

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

Wall Street Analyst Weigh In

A number of equities analysts recently commented on EOSE shares. Roth Capital cut shares of Eos Energy Enterprises from a “strong-buy” rating to a “hold” rating in a research report on Thursday, February 20th. Cowen reiterated a “hold” rating on shares of Eos Energy Enterprises in a report on Friday. Finally, 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 report on Thursday, February 20th. Five investment 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, Eos Energy Enterprises presently has an average rating of “Hold” and an average target price of $4.13.

Eos Energy Enterprises Stock Down 14.5 %

The firm has a market capitalization of $856.61 million, a P/E ratio of -1.63 and a beta of 2.15. The company has a fifty day simple moving average of $5.15 and a 200 day simple moving average of $3.74.

Institutional Investors Weigh In On Eos Energy Enterprises

A number of institutional investors have recently made changes to their positions in the company. WESPAC Advisors LLC boosted its stake in Eos Energy Enterprises by 16.6% during the 4th quarter. WESPAC Advisors LLC now owns 12,647 shares of the company’s stock valued at $61,000 after purchasing an additional 1,798 shares during the last quarter. Wells Fargo & Company MN boosted its holdings in shares of Eos Energy Enterprises by 3.6% during the 4th quarter. Wells Fargo & Company MN now owns 62,075 shares of the company’s stock valued at $302,000 after acquiring an additional 2,175 shares during the last quarter. Montag A & Associates Inc. raised its holdings in shares of Eos Energy Enterprises by 21.0% during the fourth quarter. Montag A & Associates Inc. now owns 13,809 shares of the company’s stock valued at $67,000 after purchasing an additional 2,400 shares during the last quarter. Parkside Financial Bank & Trust bought a new position in Eos Energy Enterprises during the fourth quarter valued at approximately $29,000. Finally, R Squared Ltd purchased a new stake in Eos Energy Enterprises in the fourth quarter worth approximately $31,000. Hedge funds and other 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.