ESS Tech, Inc. (NYSE:GWH) Receives Average Recommendation of “Hold” from Analysts

ESS Tech, Inc. (NYSE:GWH) has earned a consensus rating of “Hold” from the nine research firms that are presently covering the stock, Marketbeat.com reports. Two investment analysts have rated the stock with a sell rating, four have given a hold rating, two have assigned a buy rating and one has given a strong buy rating to the company. The average twelve-month target price among brokers that have covered the stock in the last year is $14.58.

A number of equities research analysts have recently weighed in on GWH shares. Robert W. Baird downgraded 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 research report on Thursday, November 14th. Canaccord Genuity Group reissued a “hold” rating and set a $8.00 price objective on shares of ESS Tech in a report on Thursday, November 14th. Oppenheimer lowered shares of ESS Tech from an “outperform” rating to a “market perform” rating in a research note on Thursday, November 14th. Finally, Baird R W downgraded shares of ESS Tech from a “strong-buy” rating to a “strong sell” rating in a research note on Thursday, November 14th.

Institutional Inflows and Outflows

Several hedge funds and other institutional investors have recently bought and sold shares of the company. Point72 Asia Singapore Pte. Ltd. bought a new stake in shares of ESS Tech in the 2nd quarter valued at $148,000. AQR Capital Management LLC acquired a new position in ESS Tech in the second quarter valued at about $84,000. Point72 DIFC Ltd bought a new stake in shares of ESS Tech in the second quarter worth about $32,000. Finally, Vanguard Personalized Indexing Management LLC acquired a new stake in shares of ESS Tech during the second quarter worth about $27,000. Institutional investors own 46.77% of the company’s stock.

ESS Tech Price Performance

GWH stock opened at $5.54 on Friday. The company has a 50 day moving average price of $6.12 and a 200 day moving average price of $7.91. ESS Tech has a fifty-two week low of $4.35 and a fifty-two week high of $17.56. The stock has a market capitalization of $65.83 million, a PE ratio of -0.85 and a beta of 1.32.

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.