ESS Tech, Inc. (NYSE:GWH) Receives Consensus Rating of “Moderate Buy” from Brokerages

Shares of ESS Tech, Inc. (NYSE:GWH) have been given a consensus recommendation of “Moderate Buy” by the six brokerages that are covering the company, Marketbeat reports. Two research analysts have rated the stock with a hold recommendation, three have given a buy recommendation and one has given a strong buy recommendation to the company. The average 1-year target price among brokerages that have covered the stock in the last year is $2.01.

Several research firms have issued reports on GWH. Roth Capital upgraded ESS Tech to a “strong-buy” rating in a research note on Friday, July 12th. Roth Mkm initiated coverage on ESS Tech in a research note on Friday, July 12th. They set a “buy” rating and a $1.50 target price on the stock. Finally, TD Cowen reduced their price target on ESS Tech from $2.50 to $2.00 and set a “buy” rating on the stock in a research report on Wednesday, May 8th.

Institutional Investors Weigh In On ESS Tech

Several hedge funds have recently modified their holdings of the company. Vanguard Group Inc. boosted its holdings in shares of ESS Tech by 6.9% during the 1st quarter. Vanguard Group Inc. now owns 3,263,849 shares of the company’s stock valued at $2,361,000 after acquiring an additional 212,070 shares in the last quarter. Green Alpha Advisors LLC raised its position in shares of ESS Tech by 11.7% in the 1st quarter. Green Alpha Advisors LLC now owns 219,440 shares of the company’s stock worth $159,000 after acquiring an additional 23,022 shares in the last quarter. Cerity Partners LLC bought a new position in shares of ESS Tech in the 4th quarter worth about $81,000. SG Americas Securities LLC bought a new position in shares of ESS Tech in the 1st quarter worth about $31,000. Finally, CWM LLC bought a new position in shares of ESS Tech in the 2nd quarter worth about $34,000. Institutional investors and hedge funds own 46.77% of the company’s stock.

ESS Tech Stock Performance

Shares of NYSE GWH opened at $0.65 on Wednesday. The stock has a 50 day moving average price of $0.77 and a 200 day moving average price of $0.79. ESS Tech has a 52 week low of $0.61 and a 52 week high of $2.11. The stock has a market capitalization of $113.70 million, a PE ratio of -1.44 and a beta of 1.52.

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.