Analysts Set ESS Tech, Inc. (NYSE:GWH) Price Target at $14.58

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

A number of brokerages recently issued reports on GWH. Oppenheimer downgraded ESS Tech from an “outperform” rating to a “market perform” rating in a research report on Thursday, November 14th. Canaccord Genuity Group reaffirmed a “hold” rating and issued a $8.00 price target on shares of ESS Tech in a report on Thursday, November 14th. Baird R W lowered ESS Tech from a “strong-buy” rating to a “strong sell” rating in a report on Thursday, November 14th. Finally, Robert W. Baird cut shares of ESS Tech from a “neutral” rating to an “underperform” rating and decreased their price objective for the stock from $14.00 to $9.00 in a research report on Thursday, November 14th.

Hedge Funds Weigh In On ESS Tech

A number of large investors have recently modified their holdings of GWH. Point72 DIFC Ltd bought a new position in ESS Tech during the second quarter valued at approximately $32,000. Point72 Asia Singapore Pte. Ltd. bought a new position in shares of ESS Tech during the 2nd quarter valued at $148,000. AQR Capital Management LLC purchased a new position in ESS Tech in the 2nd quarter worth $84,000. Finally, Vanguard Personalized Indexing Management LLC bought a new stake in ESS Tech in the second quarter worth $27,000. 46.77% of the stock is owned by hedge funds and other institutional investors.

ESS Tech Price Performance

NYSE GWH opened at $6.49 on Friday. The company’s 50 day simple moving average is $6.31 and its two-hundred day simple moving average is $8.05. ESS Tech has a 1 year low of $4.35 and a 1 year high of $17.56. The stock has a market capitalization of $77.12 million, a PE ratio of -0.99 and a beta of 1.32.

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.