ESS Tech, Inc. (NYSE:GWH) Given Average Rating of “Reduce” by Analysts

ESS Tech, Inc. (NYSE:GWH) has been assigned a consensus recommendation of “Reduce” from the eight analysts that are currently covering the firm, Marketbeat Ratings reports. Two analysts have rated the stock with a sell recommendation, five have issued a hold recommendation and one has issued a 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 $11.20.

GWH has been the subject of a number of recent research reports. Roth Mkm downgraded shares of ESS Tech from a “buy” rating to a “neutral” rating and lowered their price objective for the company from $17.00 to $3.00 in a research report on Tuesday, March 4th. Roth Capital cut shares of ESS Tech from a “strong-buy” rating to a “hold” rating in a research report on Tuesday, March 4th.

Institutional Inflows and Outflows

A hedge fund recently raised its stake in ESS Tech stock. Baird Financial Group Inc. raised its position in ESS Tech, Inc. (NYSE:GWH) by 78.5% in the 4th quarter, according to the company in its most recent filing with the Securities & Exchange Commission. The institutional investor 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 as of its most recent SEC filing. 46.77% of the stock is currently owned by hedge funds and other institutional investors.

ESS Tech Price Performance

ESS Tech stock opened at $3.37 on Friday. ESS Tech has a 12-month low of $2.92 and a 12-month high of $14.10. The firm’s fifty day moving average price is $4.33 and its 200 day moving average price is $5.68. The company has a market capitalization of $39.99 million, a price-to-earnings ratio of -0.51 and a beta of 1.37.

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.