ESS Tech, Inc. (NYSE:GWH) Receives $14.58 Consensus Price Target from Brokerages

Shares of ESS Tech, Inc. (NYSE:GWH) have been given an average rating of “Hold” by the nine analysts that are covering the stock, Marketbeat.com reports. Two analysts have rated the stock with a sell rating, four have issued a hold rating, two have issued a buy rating and one has issued a strong buy rating on the company. The average 12-month price objective among brokers that have updated their coverage on the stock in the last year is $14.58.

A number of research analysts have recently commented on the company. Oppenheimer lowered shares of ESS Tech from an “outperform” rating to a “market perform” rating in a report on Thursday, November 14th. Robert W. Baird cut shares of ESS Tech from a “neutral” rating to an “underperform” rating and dropped their price objective for the stock from $14.00 to $9.00 in a research note on Thursday, November 14th. Baird R W cut shares of ESS Tech from a “strong-buy” rating to a “strong sell” rating in a research report on Thursday, November 14th. Finally, Canaccord Genuity Group reiterated a “hold” rating and issued a $8.00 price target on shares of ESS Tech in a research report on Thursday, November 14th.

ESS Tech Price Performance

NYSE GWH opened at $5.14 on Tuesday. ESS Tech has a 1-year low of $4.68 and a 1-year high of $18.60. The business has a 50 day simple moving average of $6.95 and a two-hundred day simple moving average of $8.61. The stock has a market capitalization of $61.06 million, a PE ratio of -0.79 and a beta of 1.33.

Institutional Trading of ESS Tech

A number of hedge funds and other institutional investors have recently added to or reduced their stakes in the company. Point72 DIFC Ltd bought a new position in shares of ESS Tech during the second quarter valued at approximately $32,000. Point72 Asia Singapore Pte. Ltd. purchased a new position in ESS Tech during the 2nd quarter valued at $148,000. AQR Capital Management LLC bought a new position in ESS Tech in the 2nd quarter valued at $84,000. Vanguard Personalized Indexing Management LLC bought a new position in ESS Tech in the 2nd quarter valued at $27,000. Finally, CWM LLC bought a new stake in shares of ESS Tech during the second quarter worth $34,000. 46.77% of the stock is owned by hedge funds and other institutional investors.

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.