ESS Tech, Inc. (NYSE:GWH) Given Consensus Recommendation of “Moderate Buy” by Analysts

Shares of ESS Tech, Inc. (NYSE:GWH) have received an average rating of “Moderate Buy” from the seven ratings firms that are currently covering the stock, Marketbeat Ratings reports. Three investment analysts have rated the stock with a hold rating, three have assigned a buy rating and one has issued a strong buy rating on the company. The average 12-month target price among brokers that have issued a report on the stock in the last year is $0.10.

A number of brokerages recently commented on GWH. 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. Canaccord Genuity Group decreased their price objective on ESS Tech from $0.08 to $0.07 and set a “hold” rating on the stock in a research note on Friday, August 16th. Deutsche Bank Aktiengesellschaft reduced their target price on ESS Tech from $0.08 to $0.06 and set a “hold” rating for the company in a report on Friday, August 16th. Roth Capital raised shares of ESS Tech to a “strong-buy” rating in a report on Friday, July 12th. Finally, Roth Mkm started coverage on shares of ESS Tech in a research note on Friday, July 12th. They set a “buy” rating and a $0.10 price objective for the company.

ESS Tech Trading Up 3.8 %

ESS Tech stock opened at $6.36 on Thursday. The business’s 50 day simple moving average is $3.38 and its 200 day simple moving average is $1.22. ESS Tech has a 12 month low of $5.20 and a 12 month high of $31.65. The company has a market cap of $74.98 million, a price-to-earnings ratio of -14.13 and a beta of 1.48.

ESS Tech (NYSE:GWH) last announced its quarterly earnings data on Wednesday, August 14th. The company reported ($0.12) earnings per share for the quarter, missing the consensus estimate of ($0.11) by ($0.01). The firm had revenue of $0.35 million during the quarter, compared to analysts’ expectations of $3.24 million. ESS Tech had a negative return on equity of 77.52% and a negative net margin of 982.87%. As a group, equities research analysts forecast that ESS Tech will post -6.72 earnings per share for the current fiscal year.

Insider Buying and Selling

In related news, Director Sandeep Nijhawan sold 7,000 shares of the business’s stock in a transaction that occurred on Wednesday, September 11th. The stock was sold at an average price of $5.72, for a total value of $40,040.00. Following the completion of the sale, the director now owns 15,537 shares in the company, valued at approximately $88,871.64. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this link. 1.80% of the stock is owned by company insiders.

Institutional Investors Weigh In On ESS Tech

A number of hedge funds have recently made changes to their positions in the business. Paloma Partners Management Co bought a new stake in ESS Tech in the first quarter worth $27,000. Vanguard Personalized Indexing Management LLC bought a new stake in shares of ESS Tech in the 2nd quarter valued at about $27,000. SG Americas Securities LLC purchased a new stake in ESS Tech during the 1st quarter valued at about $31,000. Point72 DIFC Ltd bought a new position in ESS Tech during the 2nd quarter worth approximately $32,000. Finally, CWM LLC purchased a new position in ESS Tech in the 2nd quarter worth approximately $34,000. 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.