ESS Tech (NYSE:GWH) Trading 5% Higher

ESS Tech, Inc. (NYSE:GWH)’s stock price rose 5% during mid-day trading on Monday . The stock traded as high as $5.75 and last traded at $5.69. Approximately 10,134 shares traded hands during trading, a decline of 84% from the average daily volume of 65,024 shares. The stock had previously closed at $5.42.

Analyst Ratings Changes

Several analysts have recently commented on the company. Roth Mkm initiated coverage on ESS Tech in a research report on Friday, July 12th. They issued a “buy” rating and a $0.10 target price for the company. Roth Capital upgraded ESS Tech to a “strong-buy” rating in a research report on Friday, July 12th. Canaccord Genuity Group dropped their target price on ESS Tech from $0.08 to $0.07 and set a “hold” rating on the stock in a report on Friday, August 16th. Deutsche Bank Aktiengesellschaft decreased their price target on shares of ESS Tech from $0.08 to $0.06 and set a “hold” rating for the company in a report on Friday, August 16th. Finally, TD Cowen dropped their price target on shares of ESS Tech from $0.13 to $0.10 and set a “buy” rating on the stock in a research note on Thursday, August 15th. Three research analysts have rated the stock with a hold rating, three have issued a buy rating and one has issued a strong buy rating to the stock. Based on data from MarketBeat, ESS Tech currently has a consensus rating of “Moderate Buy” and an average target price of $0.12.

ESS Tech Trading Up 11.3 %

The business’s fifty day moving average price is $1.80 and its two-hundred day moving average price is $0.67. The firm has a market cap of $1.05 billion, a P/E ratio of -12.78 and a beta of 1.48.

ESS Tech (NYSE:GWH) last posted its earnings results on Wednesday, August 14th. The company reported ($0.12) EPS for the quarter, missing the consensus estimate of ($0.11) by ($0.01). ESS Tech had a negative return on equity of 77.52% and a negative net margin of 982.87%. The business had revenue of $0.35 million for the quarter, compared to analyst estimates of $3.24 million. Research analysts predict that ESS Tech, Inc. will post -6.74 EPS for the current fiscal year.

Hedge Funds Weigh In On ESS Tech

A number of institutional investors have recently modified their holdings of the company. Paloma Partners Management Co bought a new stake in ESS Tech during the first quarter valued at about $27,000. Vanguard Personalized Indexing Management LLC acquired a new stake in ESS Tech during the second quarter worth $27,000. SG Americas Securities LLC bought a new stake in ESS Tech in the first quarter valued at about $31,000. Point72 DIFC Ltd bought a new stake in shares of ESS Tech in the 2nd quarter valued at approximately $32,000. Finally, CWM LLC bought a new stake in ESS Tech in the second quarter valued at $34,000. Institutional investors own 46.77% of the company’s stock.

ESS Tech Company Profile

ESS Tech, Inc, an energy storage company, designs and produces iron flow batteries for commercial and utility-scale energy storage applications worldwide. It offers energy storage products, which include Energy Warehouse, a behind-the-meter solution; and Energy Center, a front-of-the-meter solution. The company was founded in 2011 and is headquartered in Wilsonville, Oregon.