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

ESS Tech, Inc. (NYSE:GWH) has received an average rating of “Reduce” from the eight research firms that are presently covering the stock, Marketbeat Ratings reports. Two investment analysts have rated the stock with a sell rating, five have given a hold rating and one has issued a buy rating on the company. The average 1 year price target among brokers that have issued ratings on the stock in the last year is $11.20.

GWH has been the subject of a number of research 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 cut shares of ESS Tech from a “buy” rating to a “neutral” rating and dropped their price target for the stock from $17.00 to $3.00 in a research note on Tuesday, March 4th.

ESS Tech Stock Down 4.0 %

NYSE:GWH opened at $3.22 on Friday. The firm’s fifty day simple moving average is $4.28 and its 200 day simple moving average is $5.67. The stock has a market cap of $38.20 million, a P/E ratio of -0.49 and a beta of 1.37. ESS Tech has a twelve month low of $2.92 and a twelve month high of $14.10.

Institutional Trading of ESS Tech

A hedge fund recently raised its stake 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 its most recent Form 13F filing with the Securities and Exchange Commission. The institutional investor owned 405,938 shares of the company’s stock after buying 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 quarter. 46.77% of the stock is owned by institutional investors and hedge funds.

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.