ESS Tech, Inc. (NYSE:GWH) Given Consensus Recommendation of “Moderate Buy” by Brokerages

ESS Tech, Inc. (NYSE:GWH) has received an average recommendation of “Moderate Buy” from the seven brokerages that are covering the company, Marketbeat.com reports. Three investment analysts have rated the stock with a hold recommendation, three have given a buy recommendation and one has issued a strong buy recommendation on the company. The average 12 month target price among brokers that have updated their coverage on the stock in the last year is $0.12.

GWH has been the topic of a number of analyst reports. Deutsche Bank Aktiengesellschaft reduced their price objective on ESS Tech from $0.08 to $0.06 and set a “hold” rating on the stock in a research report on Friday, August 16th. Canaccord Genuity Group lowered their price target on shares of ESS Tech from $0.08 to $0.07 and set a “hold” rating on the stock in a research report on Friday, August 16th. Roth Mkm initiated coverage on shares of ESS Tech in a research report on Friday, July 12th. They set a “buy” rating and a $0.10 price objective for the company. TD Cowen decreased their target price on shares of ESS Tech from $0.13 to $0.10 and set a “buy” rating on the stock in a report on Thursday, August 15th. Finally, Roth Capital upgraded shares of ESS Tech to a “strong-buy” rating in a report on Friday, July 12th.

ESS Tech Stock Down 3.9 %

Shares of NYSE GWH opened at $5.84 on Thursday. The firm has a 50-day simple moving average of $2.63 and a 200-day simple moving average of $0.96. The stock has a market capitalization of $68.85 million, a price-to-earnings ratio of -12.98 and a beta of 1.48. ESS Tech has a 52 week low of $5.20 and a 52 week high of $31.65.

ESS Tech (NYSE:GWH) last released its quarterly earnings data on Wednesday, August 14th. The company reported ($0.12) EPS for the quarter, missing analysts’ consensus estimates of ($0.11) by ($0.01). ESS Tech had a negative net margin of 982.87% and a negative return on equity of 77.52%. The business had revenue of $0.35 million during the quarter, compared to analyst estimates of $3.24 million. As a group, equities research analysts expect that ESS Tech will post -6.74 EPS for the current year.

Insider Transactions at ESS Tech

In other news, Director Sandeep Nijhawan sold 7,000 shares of the firm’s stock in a transaction on Wednesday, September 11th. The stock was sold at an average price of $5.72, for a total transaction of $40,040.00. Following the completion of the transaction, the director now directly owns 15,537 shares in the company, valued at $88,871.64. The transaction was disclosed in a document filed with the SEC, which is available at this link. Company insiders own 1.80% of the company’s stock.

Institutional Trading of ESS Tech

Several hedge funds have recently made changes to their positions in the business. Paloma Partners Management Co purchased a new stake in ESS Tech during the 1st quarter worth approximately $27,000. Vanguard Personalized Indexing Management LLC purchased a new position in ESS Tech in the second quarter valued at $27,000. SG Americas Securities LLC acquired a new position in ESS Tech during the 1st quarter worth $31,000. Point72 DIFC Ltd purchased a new stake in ESS Tech during the 2nd quarter worth about $32,000. Finally, CWM LLC acquired a new stake in ESS Tech in the 2nd quarter valued at about $34,000. Institutional investors and hedge funds 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.