ESS Tech, Inc. (NYSE:GWH) Receives $21.75 Consensus Price Target from Analysts

Shares of ESS Tech, Inc. (NYSE:GWH) have earned an average recommendation of “Moderate Buy” from the seven research firms that are covering the stock, Marketbeat Ratings reports. Three research analysts have rated the stock with a hold rating, three have given a buy rating and one has given a strong buy rating to the company. The average 1 year 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 a number of research analyst reports. Roth Mkm began coverage on ESS Tech in a report on Friday, July 12th. They issued a “buy” rating and a $22.50 target price for the company. TD Cowen cut their price objective on ESS Tech from $30.00 to $22.50 and set a “buy” rating for the company in a report on Thursday, August 15th. Deutsche Bank Aktiengesellschaft lowered their target price on shares of ESS Tech from $17.25 to $13.50 and set a “hold” rating on the stock in a research report on Friday, August 16th. Roth Capital raised ESS Tech to a “strong-buy” rating in a research report on Friday, July 12th. Finally, Canaccord Genuity Group lowered their price target on ESS Tech from $18.75 to $15.00 and set a “hold” rating on the stock in a research report on Friday, August 16th.

Insider Activity at ESS Tech

In other ESS Tech news, Director Sandeep Nijhawan sold 7,000 shares of the firm’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 transaction, the director now owns 15,537 shares in the company, valued at $88,871.64. This trade represents a 0.00 % decrease in their ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available at this link. 1.80% of the stock is owned by corporate insiders.

Institutional Inflows and Outflows

A number of hedge funds and other institutional investors have recently added to or reduced their stakes in GWH. Vanguard Personalized Indexing Management LLC bought a new position in shares of ESS Tech in the second quarter valued at approximately $27,000. Paloma Partners Management Co bought a new position in shares of ESS Tech in the first quarter valued at approximately $27,000. SG Americas Securities LLC bought a new position in shares of ESS Tech in the first quarter valued at approximately $31,000. Point72 DIFC Ltd bought a new position in shares of ESS Tech in the second quarter valued at approximately $32,000. Finally, CWM LLC bought a new position in shares of ESS Tech in the second quarter valued at approximately $34,000. Institutional investors own 46.77% of the company’s stock.

ESS Tech Stock Performance

Shares of NYSE:GWH opened at $7.42 on Monday. ESS Tech has a one year low of $5.20 and a one year high of $22.65. The stock has a fifty day moving average of $6.97 and a 200-day moving average of $9.83. The company has a market capitalization of $1.30 billion, a PE ratio of -16.49 and a beta of 1.47.

ESS Tech (NYSE:GWH) last released its earnings results 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). The business had revenue of $0.35 million during the quarter, compared to analysts’ expectations of $3.24 million. ESS Tech had a negative net margin of 982.87% and a negative return on equity of 77.52%. As a group, research analysts forecast that ESS Tech will post -6.72 EPS 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.