ESS Tech (NYSE:GWH) Stock Rating Lowered by Roth Capital

ESS Tech (NYSE:GWH) was downgraded by stock analysts at Roth Capital from a “strong-buy” rating to a “hold” rating in a report released on Tuesday,Zacks.com reports.

A number of other brokerages also recently issued reports on GWH. Baird R W downgraded shares of ESS Tech from a “strong-buy” rating to a “strong sell” rating in a report on Thursday, November 14th. Canaccord Genuity Group restated a “hold” rating and set a $8.00 target price on shares of ESS Tech in a report on Thursday, November 14th. Roth Mkm downgraded shares of ESS Tech from a “buy” rating to a “neutral” rating and dropped their target price for the company from $17.00 to $3.00 in a report on Tuesday. Robert W. Baird downgraded shares of ESS Tech from a “neutral” rating to an “underperform” rating and dropped their target price for the company from $14.00 to $9.00 in a report on Thursday, November 14th. Finally, Oppenheimer downgraded shares of ESS Tech from an “outperform” rating to a “market perform” rating in a report on Thursday, November 14th. Two research analysts have rated the stock with a sell rating, six have given a hold rating and one has assigned a buy rating to the stock. According to data from MarketBeat.com, ESS Tech presently has an average rating of “Hold” and an average price target of $11.33.

ESS Tech Stock Down 2.7 %

Shares of GWH opened at $3.35 on Tuesday. The company has a 50-day simple moving average of $5.17 and a 200-day simple moving average of $6.12. The company has a market capitalization of $39.78 million, a PE ratio of -0.51 and a beta of 1.31. ESS Tech has a 52-week low of $2.92 and a 52-week high of $14.10.

Institutional Investors Weigh In On ESS Tech

A hedge fund recently raised its stake in ESS Tech stock. Baird Financial Group Inc. increased its stake in ESS Tech, Inc. (NYSE:GWH) by 78.5% during 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 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. Institutional investors own 46.77% of the company’s stock.

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.