Brokerages Set ESS Tech, Inc. (NYSE:GWH) Target Price at $14.58

Shares of ESS Tech, Inc. (NYSE:GWH) have received a consensus recommendation of “Hold” from the nine ratings firms that are covering the company, MarketBeat.com reports. Two equities research analysts have rated the stock with a sell recommendation, four have issued a hold recommendation, two have given a buy recommendation and one has assigned a strong buy recommendation to the company. The average 1 year price target among analysts that have issued a report on the stock in the last year is $14.58.

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

Institutional Investors Weigh In On ESS Tech

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

ESS Tech Price Performance

Shares of NYSE:GWH opened at $5.60 on Wednesday. ESS Tech has a 1 year low of $4.35 and a 1 year high of $15.90. The firm has a market capitalization of $66.53 million, a PE ratio of -0.86 and a beta of 1.31. The business’s 50 day moving average price is $5.57 and its 200-day moving average price is $7.06.

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.