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

Shares of ESS Tech, Inc. (NYSE:GWH) have earned an average rating of “Hold” from the nine brokerages that are currently covering the stock, MarketBeat reports. Two investment analysts have rated the stock with a sell recommendation, four have issued a hold recommendation, two have given a buy recommendation and one has given a strong buy recommendation to the company. The average 1-year price objective among brokers that have issued a report on the stock in the last year is $14.58.

Several research analysts have recently weighed in on the stock. Oppenheimer cut shares of ESS Tech from an “outperform” rating to a “market perform” rating in a research note on Thursday, November 14th. Baird R W downgraded shares of ESS Tech from a “strong-buy” rating to a “strong sell” rating in a report on Thursday, November 14th. TD Cowen dropped their target price on shares of ESS Tech from $30.00 to $22.50 and set a “buy” rating for the company in a report on Thursday, August 15th. Canaccord Genuity Group reaffirmed a “hold” rating and issued a $8.00 price objective on shares of ESS Tech in a research note on Thursday, November 14th. Finally, Robert W. Baird cut ESS Tech from a “neutral” rating to an “underperform” rating and lowered their price target for the stock from $14.00 to $9.00 in a report on Thursday, November 14th.

Insider Transactions at ESS Tech

In other ESS Tech news, Director Sandeep Nijhawan sold 7,000 shares of ESS Tech 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 transaction, the director now directly owns 15,537 shares of the company’s stock, valued at $88,871.64. This trade represents a 31.06 % decrease in their position. The sale was disclosed in a filing with the SEC, which is available at this link. Insiders own 2.30% of the company’s stock.

Institutional Investors Weigh In On ESS Tech

A number of hedge funds and other institutional investors have recently added to or reduced their stakes in GWH. Vanguard Personalized Indexing Management LLC purchased a new stake in ESS Tech in the 2nd quarter worth about $27,000. Point72 DIFC Ltd bought a new position in shares of ESS Tech in the second quarter worth about $32,000. CWM LLC bought a new stake in shares of ESS Tech during the second quarter valued at approximately $34,000. AQR Capital Management LLC bought a new position in ESS Tech in the second quarter worth approximately $84,000. Finally, Point72 Asia Singapore Pte. Ltd. purchased a new stake in shares of ESS Tech in the 2nd quarter worth $148,000. 46.77% of the stock is currently owned by hedge funds and other institutional investors.

ESS Tech Stock Up 5.7 %

Shares of NYSE:GWH opened at $5.75 on Tuesday. ESS Tech has a twelve month low of $4.68 and a twelve month high of $20.10. The stock has a market capitalization of $68.31 million, a PE ratio of -0.88 and a beta of 1.33. The firm’s 50 day moving average price is $7.07 and its 200-day moving average price is $8.83.

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.