ESS Tech, Inc. (NYSE:GWH) Receives Consensus Recommendation of “Hold” from Analysts

Shares of ESS Tech, Inc. (NYSE:GWH) have earned a consensus recommendation of “Hold” from the nine analysts that are presently covering the stock, Marketbeat Ratings reports. Two analysts have rated the stock with a sell recommendation, four have issued a hold recommendation, two have given a buy recommendation and one has given a strong buy recommendation to the company. The average 12-month price objective among brokers that have covered the stock in the last year is $14.58.

GWH has been the topic of a number of research analyst reports. Baird R W downgraded ESS Tech from a “strong-buy” rating to a “strong sell” rating in a research report on Thursday, November 14th. Canaccord Genuity Group reiterated a “hold” rating and issued a $8.00 price objective on shares of ESS Tech in a research report on Thursday, November 14th. Oppenheimer downgraded shares of ESS Tech from an “outperform” rating to a “market perform” rating in a report on Thursday, November 14th. Robert W. Baird cut shares of ESS Tech from a “neutral” rating to an “underperform” rating and cut their target price for the stock from $14.00 to $9.00 in a research report on Thursday, November 14th. Finally, Roth Mkm lowered shares of ESS Tech from a “buy” rating to a “neutral” rating and lowered their price target for the company from $17.00 to $3.00 in a research report on Tuesday.

ESS Tech Price Performance

Shares of NYSE:GWH opened at $3.27 on Tuesday. The firm has a market capitalization of $38.86 million, a price-to-earnings ratio of -0.50 and a beta of 1.31. The business’s 50 day simple moving average is $5.24 and its 200-day simple moving average is $6.19. ESS Tech has a 12 month low of $3.22 and a 12 month high of $14.10.

Hedge Funds Weigh In On ESS Tech

An institutional investor recently raised its position in ESS Tech stock. Baird Financial Group Inc. boosted its position in ESS Tech, Inc. (NYSE:GWH) by 78.5% in the 4th quarter, according to its most recent filing with the 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 about 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 hedge funds and other institutional investors.

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.