ESS Tech (NYSE:GWH) Reaches New 1-Year Low at $6.62

ESS Tech, Inc. (NYSE:GWH)’s share price reached a new 52-week low during trading on Wednesday . The company traded as low as $6.62 and last traded at $6.86, with a volume of 63077 shares. The stock had previously closed at $7.23.

Wall Street Analysts Forecast Growth

GWH has been the subject of several analyst reports. Roth Capital upgraded ESS Tech to a “strong-buy” rating in a report on Friday, July 12th. Canaccord Genuity Group lowered their price target on ESS Tech from $1.25 to $1.00 and set a “hold” rating on the stock in a research report on Friday, August 16th. Roth Mkm began coverage on ESS Tech in a research note on Friday, July 12th. They set a “buy” rating and a $1.50 price objective on the stock. TD Cowen decreased their target price on shares of ESS Tech from $2.00 to $1.50 and set a “buy” rating for the company in a research note on Thursday, August 15th. Finally, Deutsche Bank Aktiengesellschaft dropped their price target on shares of ESS Tech from $1.15 to $0.90 and set a “hold” rating on the stock in a research report on Friday, August 16th. 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 to the company. According to data from MarketBeat.com, ESS Tech presently has an average rating of “Moderate Buy” and a consensus target price of $1.74.

ESS Tech Stock Up 15.2 %

The business has a 50 day moving average of $1.12 and a two-hundred day moving average of $0.90.

Hedge Funds Weigh In On ESS Tech

Several large investors have recently modified their holdings of GWH. Vanguard Group Inc. boosted its holdings in shares of ESS Tech by 6.9% during the 1st quarter. Vanguard Group Inc. now owns 3,263,849 shares of the company’s stock worth $2,361,000 after buying an additional 212,070 shares during the period. Point72 Asia Singapore Pte. Ltd. acquired a new stake in ESS Tech during the second quarter worth approximately $148,000. AQR Capital Management LLC bought a new stake in shares of ESS Tech during the second quarter worth approximately $84,000. SG Americas Securities LLC acquired a new position in shares of ESS Tech in the first quarter valued at approximately $31,000. Finally, CWM LLC bought a new position in shares of ESS Tech during the second quarter worth approximately $34,000. 46.77% of the stock is 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.