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

ESS Tech, Inc. (NYSE:GWH) has been given a consensus recommendation of “Hold” by the nine research firms that are currently covering the company, Marketbeat reports. Two analysts have rated the stock with a sell rating, four have assigned a hold rating, two have given a buy rating and one has assigned a strong buy rating to the company. The average 12-month price target among brokerages that have covered the stock in the last year is $14.58.

GWH has been the subject of a number of research analyst reports. Baird R W lowered ESS Tech from a “strong-buy” rating to a “strong sell” rating in a research report on Thursday, November 14th. Oppenheimer cut ESS Tech from an “outperform” rating to a “market perform” rating in a report on Thursday, November 14th. Robert W. Baird cut 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 report on Thursday, November 14th. Finally, Canaccord Genuity Group reissued a “hold” rating and issued a $8.00 target price on shares of ESS Tech in a report on Thursday, November 14th.

ESS Tech Stock Performance

GWH opened at $6.34 on Friday. The stock has a market capitalization of $75.34 million, a price-to-earnings ratio of -0.97 and a beta of 1.33. The company has a fifty day moving average of $6.31 and a 200 day moving average of $8.10. ESS Tech has a fifty-two week low of $4.35 and a fifty-two week high of $17.56.

Hedge Funds Weigh In On ESS Tech

Large investors have recently modified their holdings of the stock. Vanguard Personalized Indexing Management LLC bought a new stake in shares of ESS Tech in the 2nd quarter worth about $27,000. Point72 DIFC Ltd purchased a new stake in ESS Tech in the 2nd quarter worth about $32,000. Point72 Asia Singapore Pte. Ltd. bought a new stake in ESS Tech in the second quarter worth about $148,000. Finally, AQR Capital Management LLC purchased a new position in shares of ESS Tech during the second quarter valued at approximately $84,000. Institutional investors own 46.77% of the company’s stock.

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.