Analysts Set ESS Tech, Inc. (NYSE:GWH) Target Price at $14.58

Shares of ESS Tech, Inc. (NYSE:GWH) have received a consensus rating of “Hold” from the nine ratings firms that are covering the stock, Marketbeat.com reports. Two analysts have rated the stock with a sell recommendation, four have assigned a hold recommendation, two have given a buy recommendation and one has assigned a strong buy recommendation to the company. The average 12-month price objective among analysts that have covered the stock in the last year is $14.58.

GWH has been the subject of several recent research reports. Baird R W downgraded 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 price objective on shares of ESS Tech in a report on Thursday, November 14th. Robert W. Baird downgraded ESS Tech from a “neutral” rating to an “underperform” rating and decreased their price objective for the company from $14.00 to $9.00 in a report on Thursday, November 14th. Finally, Oppenheimer downgraded ESS Tech from an “outperform” rating to a “market perform” rating in a report on Thursday, November 14th.

Institutional Inflows and Outflows

Hedge funds have recently modified their holdings of the stock. Vanguard Personalized Indexing Management LLC purchased a new position in ESS Tech in the second quarter worth $27,000. Point72 DIFC Ltd purchased a new position in ESS Tech in the second quarter worth $32,000. AQR Capital Management LLC purchased a new position in ESS Tech in the second quarter worth $84,000. Finally, Point72 Asia Singapore Pte. Ltd. purchased a new position in ESS Tech in the second quarter worth $148,000. Hedge funds and other institutional investors own 46.77% of the company’s stock.

ESS Tech Stock Down 0.2 %

NYSE GWH opened at $5.49 on Wednesday. The company has a market cap of $65.22 million, a price-to-earnings ratio of -0.84 and a beta of 1.32. ESS Tech has a 52 week low of $4.35 and a 52 week high of $16.50. The business has a 50 day moving average price of $5.58 and a 200-day moving average price of $7.16.

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.