ESS Tech (NYSE:GWH) Stock Price Down 3.1% – What’s Next?

ESS Tech, Inc. (NYSE:GWH)’s stock price fell 3.1% during trading on Tuesday . The stock traded as low as $4.04 and last traded at $4.17. 59,736 shares changed hands during mid-day trading, a decline of 27% from the average session volume of 81,720 shares. The stock had previously closed at $4.30.

Wall Street Analyst Weigh In

A number of equities research analysts have recently weighed in on GWH shares. Baird R W cut ESS Tech from a “strong-buy” rating to a “strong sell” rating in a report on Thursday, November 14th. Canaccord Genuity Group reaffirmed a “hold” rating and set a $8.00 target price on shares of ESS Tech in a research note on Thursday, November 14th. Robert W. Baird lowered ESS Tech from a “neutral” rating to an “underperform” rating and reduced their price target for the stock from $14.00 to $9.00 in a research report on Thursday, November 14th. Finally, Oppenheimer lowered ESS Tech from an “outperform” rating to a “market perform” rating in a report on Thursday, November 14th. Two research analysts have rated the stock with a sell rating, four have assigned a hold rating, two have issued a buy rating and one has given a strong buy rating to the company. Based on data from MarketBeat, the company has a consensus rating of “Hold” and a consensus target price of $14.58.

ESS Tech Price Performance

The stock has a market cap of $49.49 million, a P/E ratio of -0.64 and a beta of 1.31. The company has a fifty day moving average of $5.32 and a 200 day moving average of $6.37.

Institutional Trading of ESS Tech

An institutional investor recently raised its position in ESS Tech stock. Baird Financial Group Inc. increased its position in shares of ESS Tech, Inc. (NYSE:GWH) by 78.5% during the fourth quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The firm owned 405,938 shares of the company’s stock after acquiring an additional 178,532 shares during the period. Baird Financial Group Inc. owned approximately 3.42% of ESS Tech worth $2,387,000 at the end of the most recent quarter. 46.77% of the stock is currently owned by institutional investors.

About ESS Tech

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.