ESS Tech, Inc. (NYSE:GWH) Given Consensus Rating of “Hold” by Analysts

Shares of ESS Tech, Inc. (NYSE:GWH) have been assigned a consensus recommendation of “Hold” from the nine brokerages that are covering the stock, Marketbeat Ratings reports. Two equities research analysts have rated the stock with a sell rating, four have issued a hold rating, two have issued a buy rating and one has given a strong buy rating to the company. The average 12 month price objective among analysts that have issued ratings on the stock in the last year is $14.58.

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

ESS Tech Price Performance

Shares of NYSE GWH opened at $5.49 on Wednesday. ESS Tech has a one year low of $4.35 and a one year high of $16.50. The business’s fifty day moving average price is $5.58 and its 200-day moving average price is $7.16. The stock has a market capitalization of $65.22 million, a PE ratio of -0.84 and a beta of 1.32.

Hedge Funds Weigh In On ESS Tech

Institutional investors have recently modified their holdings of the company. Vanguard Personalized Indexing Management LLC bought a new position in shares of ESS Tech during the 2nd quarter valued at about $27,000. Point72 DIFC Ltd bought a new position in shares of ESS Tech during the 2nd quarter valued at about $32,000. AQR Capital Management LLC bought a new position in shares of ESS Tech during the 2nd quarter valued at about $84,000. Finally, Point72 Asia Singapore Pte. Ltd. bought a new position in shares of ESS Tech during the 2nd quarter valued at about $148,000. 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.