ESS Tech (NYSE:GWH) Lowered to Neutral Rating by Roth Mkm

Roth Mkm downgraded shares of ESS Tech (NYSE:GWH) from a buy rating to a neutral rating in a report issued on Tuesday, MarketBeat Ratings reports. Roth Mkm currently has $3.00 price target on the stock, down from their prior price target of $17.00.

A number of other analysts also recently issued reports on the company. Robert W. Baird downgraded ESS Tech from a “neutral” rating to an “underperform” rating and decreased their target price for the stock from $14.00 to $9.00 in a research report on Thursday, November 14th. Oppenheimer downgraded ESS Tech from an “outperform” rating to a “market perform” rating in a research report on Thursday, November 14th. Baird R W downgraded ESS Tech from a “strong-buy” rating to a “strong sell” rating in a research report on Thursday, November 14th. Finally, Canaccord Genuity Group reissued a “hold” rating and issued a $8.00 target price on shares of ESS Tech in a research report on Thursday, November 14th. Two research analysts have rated the stock with a sell rating, five have given a hold rating, one has assigned a buy rating and one has given a strong buy rating to the stock. According to data from MarketBeat, the stock has an average rating of “Hold” and an average price target of $11.33.

ESS Tech Trading Up 5.5 %

Shares of GWH opened at $3.44 on Tuesday. The stock has a 50 day moving average of $5.21 and a 200 day moving average of $6.15. ESS Tech has a 12 month low of $2.92 and a 12 month high of $14.10. The company has a market capitalization of $40.85 million, a price-to-earnings ratio of -0.53 and a beta of 1.31.

Hedge Funds Weigh In On ESS Tech

An institutional investor recently raised its position in ESS Tech stock. Baird Financial Group Inc. lifted its stake in ESS Tech, Inc. (NYSE:GWH) by 78.5% in the fourth quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The firm owned 405,938 shares of the company’s stock after acquiring an additional 178,532 shares during the period. Baird Financial Group Inc. owned approximately 3.42% of ESS Tech worth $2,387,000 at the end of the most recent reporting period. 46.77% of the stock is currently owned by institutional investors and hedge funds.

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.