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

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

Several equities research analysts recently issued reports on GWH shares. Baird R W cut shares of ESS Tech from a “strong-buy” rating to a “strong sell” rating in a research report on Thursday, November 14th. Roth Mkm lowered shares of ESS Tech from a “buy” rating to a “neutral” rating and decreased their price target for the company from $17.00 to $3.00 in a report on Tuesday. Oppenheimer downgraded ESS Tech from an “outperform” rating to a “market perform” rating in a report on Thursday, November 14th. Robert W. Baird cut ESS Tech from a “neutral” rating to an “underperform” rating and reduced their target price for the company from $14.00 to $9.00 in a report on Thursday, November 14th. Finally, Canaccord Genuity Group restated a “hold” rating and set a $8.00 price target on shares of ESS Tech in a research note on Thursday, November 14th.

Institutional Trading of ESS Tech

A hedge fund recently raised its stake in ESS Tech stock. Baird Financial Group Inc. lifted its stake in ESS Tech, Inc. (NYSE:GWH) by 78.5% in the 4th quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The firm owned 405,938 shares of the company’s stock after buying an additional 178,532 shares during the period. Baird Financial Group Inc. owned approximately 3.42% of ESS Tech worth $2,387,000 as of its most recent SEC filing. Institutional investors and hedge funds own 46.77% of the company’s stock.

ESS Tech Price Performance

GWH opened at $3.27 on Tuesday. ESS Tech has a 12 month low of $3.22 and a 12 month high of $14.10. The business has a 50-day moving average of $5.24 and a two-hundred day moving average of $6.19. The stock has a market capitalization of $38.86 million, a price-to-earnings ratio of -0.50 and a beta of 1.31.

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.