Analysts Set ESS Tech, Inc. (NYSE:GWH) Price Target at $0.12

Shares of ESS Tech, Inc. (NYSE:GWH) have been given an average rating of “Moderate Buy” by the seven ratings firms that are presently covering the stock, Marketbeat reports. Three research analysts have rated the stock with a hold rating, three have issued a buy rating and one has given a strong buy rating to the company. The average 12-month price target among brokerages that have issued ratings on the stock in the last year is $0.10.

Several analysts recently issued reports on the stock. Roth Capital upgraded shares of ESS Tech to a “strong-buy” rating in a report on Friday, July 12th. Deutsche Bank Aktiengesellschaft reduced their price target on shares of ESS Tech from $0.08 to $0.06 and set a “hold” rating on the stock in a research note on Friday, August 16th. Roth Mkm assumed coverage on shares of ESS Tech in a research report on Friday, July 12th. They set a “buy” rating and a $0.10 price objective for the company. TD Cowen dropped their target price on shares of ESS Tech from $0.13 to $0.10 and set a “buy” rating for the company in a report on Thursday, August 15th. Finally, Canaccord Genuity Group cut their target price on ESS Tech from $0.08 to $0.07 and set a “hold” rating on the stock in a research report on Friday, August 16th.

Insider Buying and Selling at ESS Tech

In other news, Director Sandeep Nijhawan sold 7,000 shares of ESS Tech stock in a transaction on Wednesday, September 11th. The shares were sold at an average price of $5.72, for a total value of $40,040.00. Following the transaction, the director now directly owns 15,537 shares of the company’s stock, valued at approximately $88,871.64. The sale was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this hyperlink. 1.80% of the stock is owned by company insiders.

Institutional Trading of ESS Tech

A number of institutional investors have recently added to or reduced their stakes in GWH. Paloma Partners Management Co acquired a new stake in shares of ESS Tech in the 1st quarter worth approximately $27,000. Vanguard Personalized Indexing Management LLC acquired a new stake in ESS Tech in the second quarter valued at $27,000. SG Americas Securities LLC purchased a new position in shares of ESS Tech in the first quarter valued at $31,000. Point72 DIFC Ltd acquired a new position in shares of ESS Tech during the 2nd quarter worth $32,000. Finally, CWM LLC acquired a new position in shares of ESS Tech during the 2nd quarter worth $34,000. Hedge funds and other institutional investors own 46.77% of the company’s stock.

ESS Tech Trading Up 1.5 %

Shares of GWH stock opened at $6.62 on Thursday. The company’s 50-day moving average price is $3.01 and its 200-day moving average price is $1.08. ESS Tech has a twelve month low of $5.20 and a twelve month high of $31.65. The stock has a market cap of $78.05 million, a price-to-earnings ratio of -14.71 and a beta of 1.48.

ESS Tech (NYSE:GWH) last released its quarterly earnings data on Wednesday, August 14th. The company reported ($0.12) EPS for the quarter, missing analysts’ consensus estimates of ($0.11) by ($0.01). ESS Tech had a negative net margin of 982.87% and a negative return on equity of 77.52%. The business had revenue of $0.35 million during the quarter, compared to analyst estimates of $3.24 million. As a group, equities research analysts predict that ESS Tech will post -6.74 EPS for the current 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.