ESS Tech, Inc. (NYSE:GWH) Receives $14.58 Average PT from Brokerages

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

Several research analysts have commented on GWH shares. Canaccord Genuity Group reissued a “hold” rating and set a $8.00 price target on shares of ESS Tech in a research note on Thursday, November 14th. Oppenheimer downgraded 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 ESS Tech from a “strong-buy” rating to a “strong sell” rating in a report on Thursday, November 14th. Finally, Robert W. Baird cut ESS Tech from a “neutral” rating to an “underperform” rating and dropped their target price for the company from $14.00 to $9.00 in a report on Thursday, November 14th.

ESS Tech Trading Down 0.2 %

Shares of NYSE GWH opened at $5.49 on Wednesday. The stock has a market cap of $65.24 million, a price-to-earnings ratio of -0.84 and a beta of 1.32. The stock’s 50-day moving average is $5.59 and its 200 day moving average is $7.21. ESS Tech has a 1-year low of $4.35 and a 1-year high of $16.50.

Institutional Investors Weigh In On ESS Tech

A number of large investors have recently made changes to their positions in the business. Point72 Asia Singapore Pte. Ltd. bought a new position in ESS Tech in the second quarter worth about $148,000. AQR Capital Management LLC bought a new position in shares of ESS Tech in the 2nd quarter worth approximately $84,000. Point72 DIFC Ltd purchased a new position in shares of ESS Tech in the 2nd quarter valued at approximately $32,000. Finally, Vanguard Personalized Indexing Management LLC bought a new stake in shares of ESS Tech during the second quarter valued at approximately $27,000. 46.77% of the stock is currently 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.