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

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

A number of analysts recently issued reports on GWH shares. Robert W. Baird cut ESS Tech from a “neutral” rating to an “underperform” rating and lowered their target price for the stock from $14.00 to $9.00 in a research note on Thursday, November 14th. Deutsche Bank Aktiengesellschaft dropped their price objective on shares of ESS Tech from $17.25 to $13.50 and set a “hold” rating on the stock in a report on Friday, August 16th. TD Cowen reduced their target price on shares of ESS Tech from $30.00 to $22.50 and set a “buy” rating for the company in a research note on Thursday, August 15th. Baird R W downgraded ESS Tech from a “strong-buy” rating to a “strong sell” rating in a research note on Thursday, November 14th. Finally, Oppenheimer cut ESS Tech from an “outperform” rating to a “market perform” rating in a research report on Thursday, November 14th.

ESS Tech Price Performance

Shares of ESS Tech stock opened at $5.17 on Friday. The company has a market capitalization of $60.97 million, a P/E ratio of -0.79 and a beta of 1.41. The business has a 50-day moving average of $7.11 and a two-hundred day moving average of $9.44. ESS Tech has a 1 year low of $4.68 and a 1 year high of $20.10.

Insider Activity at ESS Tech

In other ESS Tech news, Director Sandeep Nijhawan sold 7,000 shares of the stock in a transaction on Wednesday, September 11th. The shares were sold at an average price of $5.72, for a total value of $40,040.00. Following the completion of the sale, the director now owns 15,537 shares in the company, valued at $88,871.64. This trade represents a 31.06 % decrease in their ownership of the stock. The sale was disclosed in a legal filing with the SEC, which is available through this link. 2.30% of the stock is owned by company insiders.

Institutional Investors Weigh In On ESS Tech

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

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.