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

Shares of ESS Tech, Inc. (NYSE:GWH) have been given a consensus rating of “Moderate Buy” by the seven brokerages that are presently covering the company, MarketBeat reports. Three investment analysts have rated the stock with a hold rating, three have assigned a buy rating and one has assigned a strong buy rating to the company. The average 12-month price objective among brokers that have updated their coverage on the stock in the last year is $21.75.

GWH has been the subject of several recent research reports. Deutsche Bank Aktiengesellschaft lowered their price target on ESS Tech from $17.25 to $13.50 and set a “hold” rating for the company in a research note on Friday, August 16th. Roth Mkm started coverage on shares of ESS Tech in a research report on Friday, July 12th. They issued a “buy” rating and a $22.50 target price for the company. Roth Capital upgraded shares of ESS Tech to a “strong-buy” rating in a report on Friday, July 12th. Canaccord Genuity Group reduced their price objective on shares of ESS Tech from $18.75 to $15.00 and set a “hold” rating for the company in a research note on Friday, August 16th. Finally, TD Cowen lowered their target price on shares of ESS Tech from $30.00 to $22.50 and set a “buy” rating on the stock in a research report on Thursday, August 15th.

Insider Transactions at ESS Tech

In other ESS Tech news, Director Sandeep Nijhawan sold 7,000 shares of the company’s stock in a transaction dated Wednesday, September 11th. The shares were sold at an average price of $5.72, for a total transaction of $40,040.00. Following the completion of the sale, the director now directly owns 15,537 shares in the company, valued at $88,871.64. This represents a 0.00 % decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available at the SEC website. 2.30% of the stock is owned by corporate insiders.

Institutional Inflows and Outflows

A number of large investors have recently modified their holdings of the business. Vanguard Personalized Indexing Management LLC acquired a new stake in shares of ESS Tech in the second quarter worth $27,000. Paloma Partners Management Co bought a new position in shares of ESS Tech during the 1st quarter worth about $27,000. SG Americas Securities LLC acquired a new position in shares of ESS Tech during the first quarter valued at about $31,000. Point72 DIFC Ltd acquired a new position in shares of ESS Tech during the second quarter valued at about $32,000. Finally, CWM LLC bought a new stake in shares of ESS Tech in the second quarter valued at about $34,000. 46.77% of the stock is currently owned by institutional investors and hedge funds.

ESS Tech Stock Performance

Shares of GWH opened at $7.80 on Monday. The company’s 50 day moving average price is $6.92 and its 200 day moving average price is $9.81. ESS Tech has a 52 week low of $5.20 and a 52 week high of $21.26. The company has a market capitalization of $91.96 million, a PE ratio of -1.24 and a beta of 1.47.

ESS Tech (NYSE:GWH) last released its quarterly earnings data on Wednesday, August 14th. The company reported ($27.00) earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of ($24.75) by ($2.25). ESS Tech had a negative net margin of 982.87% and a negative return on equity of 77.52%. The firm had revenue of $0.35 million for the quarter, compared to analyst estimates of $3.24 million. On average, equities analysts forecast that ESS Tech will post -6.72 earnings per share for the current fiscal year.

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.