ESS Tech, Inc. (NYSE:GWH) Receives $11.20 Consensus Target Price from Analysts

Shares of ESS Tech, Inc. (NYSE:GWH) have received a consensus recommendation of “Reduce” from the eight analysts that are covering the stock, Marketbeat Ratings reports. Two investment analysts have rated the stock with a sell rating, five have issued a hold rating and one has issued a buy rating on the company. The average 12 month target price among brokerages that have covered the stock in the last year is $11.20.

Several analysts have recently commented on GWH shares. Roth Mkm cut shares of ESS Tech from a “buy” rating to a “neutral” rating and reduced their target price for the stock from $17.00 to $3.00 in a research note on Tuesday, March 4th. Roth Capital downgraded 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

An institutional investor recently raised its position in ESS Tech stock. Baird Financial Group Inc. increased its position in ESS Tech, Inc. (NYSE:GWH) by 78.5% during the fourth quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission (SEC). The firm owned 405,938 shares of the company’s stock after acquiring an additional 178,532 shares during the period. Baird Financial Group Inc. owned approximately 3.42% of ESS Tech worth $2,387,000 as of its most recent SEC filing. 46.77% of the stock is owned by institutional investors and hedge funds.

ESS Tech Stock Down 9.5 %

GWH opened at $2.58 on Friday. ESS Tech has a 52 week low of $2.51 and a 52 week high of $14.10. The business has a 50 day moving average price of $4.17 and a two-hundred day moving average price of $5.63. The company has a market cap of $30.66 million, a PE ratio of -0.39 and a beta of 1.37.

ESS Tech (NYSE:GWH) last released its quarterly earnings results on Monday, March 31st. The company reported ($1.97) EPS for the quarter, missing the consensus estimate of ($1.51) by ($0.46). ESS Tech had a negative return on equity of 101.96% and a negative net margin of 1,263.79%. The company had revenue of $6.40 million for the quarter, compared to analysts’ expectations of $5.80 million. As a group, sell-side analysts expect that ESS Tech will post -6.87 EPS for the current fiscal year.

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.