ESS Tech (NYSE:GWH) Research Coverage Started at Roth Mkm

Analysts at Roth Mkm initiated coverage on shares of ESS Tech (NYSE:GWH) in a report released on Friday, Briefing.com reports. The brokerage set a “buy” rating and a $1.50 price target on the stock. Roth Mkm’s price target indicates a potential upside of 77.33% from the stock’s previous close.

GWH has been the subject of a number of other reports. Canaccord Genuity Group reduced their price objective on shares of ESS Tech from $1.75 to $1.25 and set a “hold” rating for the company in a research note on Thursday, March 14th. TD Cowen reduced their price objective on shares of ESS Tech from $2.50 to $2.00 and set a “buy” rating for the company in a research note on Wednesday, May 8th. Chardan Capital reduced their price objective on shares of ESS Tech from $1.90 to $0.80 and set a “neutral” rating for the company in a research note on Friday, March 15th. Finally, Robert W. Baird reduced their price objective on shares of ESS Tech from $4.00 to $3.00 and set an “outperform” rating for the company in a research note on Thursday, March 14th. Two equities research analysts have rated the stock with a hold rating and three have given a buy rating to the stock. According to data from MarketBeat, the stock currently has an average rating of “Moderate Buy” and a consensus target price of $2.01.

ESS Tech Price Performance

Shares of ESS Tech stock opened at $0.85 on Friday. The company has a 50-day moving average of $0.78 and a 200 day moving average of $0.84. The firm has a market cap of $147.96 million, a price-to-earnings ratio of -1.88 and a beta of 1.52. ESS Tech has a 1 year low of $0.61 and a 1 year high of $2.12.

ESS Tech (NYSE:GWH) last issued its quarterly earnings results on Tuesday, May 7th. The company reported ($0.10) earnings per share (EPS) for the quarter, topping the consensus estimate of ($0.13) by $0.03. The company had revenue of $2.74 million during the quarter, compared to analyst estimates of $3.21 million. ESS Tech had a negative net margin of 746.89% and a negative return on equity of 73.08%. On average, equities analysts anticipate that ESS Tech will post -0.42 EPS for the current year.

Insider Transactions at ESS Tech

In related news, Director Harry Quarls purchased 42,690 shares of ESS Tech stock in a transaction dated Thursday, May 9th. The stock was purchased at an average cost of $0.84 per share, for a total transaction of $35,859.60. Following the completion of the purchase, the director now directly owns 366,146 shares of the company’s stock, valued at approximately $307,562.64. The purchase was disclosed in a document filed with the SEC, which is available at this hyperlink. Company insiders own 1.80% of the company’s stock.

Institutional Trading of ESS Tech

Large investors have recently added to or reduced their stakes in the business. Green Alpha Advisors LLC boosted its stake in shares of ESS Tech by 211.1% during the 4th quarter. Green Alpha Advisors LLC now owns 196,418 shares of the company’s stock worth $224,000 after acquiring an additional 133,285 shares during the last quarter. Cerity Partners LLC bought a new position in ESS Tech in the 4th quarter worth $81,000. CWM LLC purchased a new position in ESS Tech during the second quarter valued at $34,000. Vanguard Group Inc. grew its holdings in ESS Tech by 6.9% during the first quarter. Vanguard Group Inc. now owns 3,263,849 shares of the company’s stock valued at $2,361,000 after purchasing an additional 212,070 shares during the period. Finally, SG Americas Securities LLC purchased a new stake in ESS Tech in the first quarter worth about $31,000. 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.