ESS Tech, Inc. (NYSE:GWH) Receives $11.20 Average PT from Analysts

Shares of ESS Tech, Inc. (NYSE:GWH) have earned a consensus recommendation of “Reduce” from the eight ratings firms that are presently covering the stock, Marketbeat reports. Two research analysts have rated the stock with a sell recommendation, five have issued a hold recommendation and one has assigned a buy recommendation to the company. The average 1-year target price among brokers that have issued ratings on the stock in the last year is $11.20.

GWH has been the topic of several research analyst reports. Roth Capital cut ESS Tech from a “strong-buy” rating to a “hold” rating in a research note on Tuesday, March 4th. Roth Mkm lowered shares of ESS Tech from a “buy” rating to a “neutral” rating and reduced their price objective for the stock from $17.00 to $3.00 in a research note on Tuesday, March 4th.

ESS Tech Trading Down 4.0 %

NYSE GWH opened at $3.22 on Friday. The stock has a market cap of $38.20 million, a PE ratio of -0.49 and a beta of 1.37. The company’s 50-day moving average price is $4.28 and its 200-day moving average price is $5.67. ESS Tech has a 12 month low of $2.92 and a 12 month high of $14.10.

Institutional Trading of ESS Tech

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