ESS Tech, Inc. (NYSE:GWH) Given Average Recommendation of “Hold” by Analysts

ESS Tech, Inc. (NYSE:GWH) has received a consensus rating of “Hold” from the nine analysts that are currently covering the company, Marketbeat reports. Two investment analysts have rated the stock with a sell recommendation, four have given a hold recommendation, two have assigned a buy recommendation and one has issued a strong buy recommendation on the company. The average 1 year price target among analysts that have updated their coverage on the stock in the last year is $14.58.

A number of equities analysts have recently issued reports on the company. Oppenheimer downgraded ESS Tech from an “outperform” rating to a “market perform” rating in a research note on Thursday, November 14th. Robert W. Baird downgraded ESS Tech from a “neutral” rating to an “underperform” rating and lowered their target price for the company from $14.00 to $9.00 in a report on Thursday, November 14th. Canaccord Genuity Group restated a “hold” rating and set a $8.00 price target on shares of ESS Tech in a research note on Thursday, November 14th. Finally, Baird R W cut shares of ESS Tech from a “strong-buy” rating to a “strong sell” rating in a research note on Thursday, November 14th.

ESS Tech Trading Up 4.4 %

NYSE:GWH opened at $6.34 on Friday. ESS Tech has a 12 month low of $4.35 and a 12 month high of $17.56. The company has a market cap of $75.34 million, a PE ratio of -0.97 and a beta of 1.33. The company has a 50 day simple moving average of $6.31 and a two-hundred day simple moving average of $8.10.

Hedge Funds Weigh In On ESS Tech

Hedge funds have recently modified their holdings of the company. Vanguard Personalized Indexing Management LLC bought a new stake in shares of ESS Tech during the 2nd quarter valued at $27,000. Point72 DIFC Ltd purchased a new position in shares of ESS Tech in the second quarter valued at about $32,000. AQR Capital Management LLC bought a new position in shares of ESS Tech in the second quarter worth about $84,000. Finally, Point72 Asia Singapore Pte. Ltd. purchased a new stake in shares of ESS Tech during the second quarter worth about $148,000. 46.77% of the stock is currently owned by institutional investors.

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.