Shares of ESS Tech, Inc. (NYSE:GWH – Get Free Report) 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.
View Our Latest Stock Analysis on GWH
Insider Activity at ESS Tech
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 – Get Free Report) 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.
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