ESS Tech (NYSE:GWH) Trading Up 4.4% – Time to Buy?

ESS Tech, Inc. (NYSE:GWH) shares rose 4.4% during trading on Thursday . The company traded as high as $3.48 and last traded at $3.46. Approximately 58,823 shares were traded during trading, a decline of 21% from the average daily volume of 74,307 shares. The stock had previously closed at $3.31.

Analysts Set New Price Targets

GWH has been the subject of several analyst reports. Roth Capital downgraded shares of ESS Tech from a “strong-buy” rating to a “hold” rating in a research note on Tuesday, March 4th. Roth Mkm downgraded shares of ESS Tech from a “buy” rating to a “neutral” rating and lowered their price target for the stock from $17.00 to $3.00 in a report on Tuesday, March 4th. Two equities research analysts have rated the stock with a sell rating, five have given a hold rating and one has given a buy rating to the stock. According to MarketBeat, ESS Tech currently has a consensus rating of “Hold” and a consensus price target of $11.20.

ESS Tech Stock Up 4.4 %

The company has a 50 day moving average of $4.38 and a 200 day moving average of $5.70. The stock has a market capitalization of $41.06 million, a price-to-earnings ratio of -0.53 and a beta of 1.37.

Institutional Inflows and Outflows

A hedge fund recently raised its stake in ESS Tech stock. Baird Financial Group Inc. raised its stake in shares of ESS Tech, Inc. (NYSE:GWH) by 78.5% in the 4th quarter, according to its most recent Form 13F filing with the SEC. The fund owned 405,938 shares of the company’s stock after purchasing an additional 178,532 shares during the period. Baird Financial Group Inc. owned 3.42% of ESS Tech worth $2,387,000 at the end of the most recent reporting period. Institutional investors and hedge funds 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.