ESS Tech (NYSE:GWH – Free Report) had its price objective cut by Deutsche Bank Aktiengesellschaft from $1.15 to $0.90 in a research report released on Friday morning, Benzinga reports. The brokerage currently has a hold rating on the stock.
Other research analysts have also issued research reports about the company. TD Cowen reduced their price objective on ESS Tech from $2.00 to $1.50 and set a buy rating for the company in a research report on Thursday. Canaccord Genuity Group lowered their price target on shares of ESS Tech from $1.25 to $1.00 and set a hold rating for the company in a research report on Friday. Roth Capital upgraded shares of ESS Tech to a strong-buy rating in a research report on Friday, July 12th. Finally, Roth Mkm initiated coverage on shares of ESS Tech in a research note on Friday, July 12th. They set a buy rating and a $1.50 target price for the company. Three investment analysts have rated the stock with a hold rating, three have issued a buy rating and one has assigned a strong buy rating to the company. Based on data from MarketBeat, the stock has a consensus rating of Moderate Buy and a consensus price target of $1.74.
Check Out Our Latest Report on ESS Tech
ESS Tech Stock Down 3.3 %
Institutional Trading of ESS Tech
A number of hedge funds and other institutional investors have recently made changes to their positions in the stock. Cerity Partners LLC bought a new position in shares of ESS Tech in the fourth quarter valued at approximately $81,000. Green Alpha Advisors LLC increased its position in shares of ESS Tech by 11.7% during the 1st quarter. Green Alpha Advisors LLC now owns 219,440 shares of the company’s stock valued at $159,000 after purchasing an additional 23,022 shares during the period. SG Americas Securities LLC bought a new stake in shares of ESS Tech in the 1st quarter worth $31,000. Vanguard Group Inc. boosted its stake in ESS Tech by 6.9% during the first quarter. Vanguard Group Inc. now owns 3,263,849 shares of the company’s stock valued at $2,361,000 after buying an additional 212,070 shares in the last quarter. Finally, Paloma Partners Management Co acquired a new position in ESS Tech during the first quarter worth about $27,000. 46.77% of the stock is currently owned by 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.
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