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

ESS Tech, Inc. (NYSE:GWH) has been given an average rating of “Hold” by the nine research firms that are currently covering the stock, Marketbeat Ratings reports. Two investment analysts have rated the stock with a sell rating, four have assigned a hold rating, two have given a buy rating and one has assigned a strong buy rating to the company. The average 12 month target price among analysts that have updated their coverage on the stock in the last year is $14.58.

Several analysts have recently commented on GWH shares. Baird R W downgraded shares of ESS Tech from a “strong-buy” rating to a “strong sell” rating in a research report on Thursday, November 14th. Canaccord Genuity Group reissued a “hold” rating and set a $8.00 price target on shares of ESS Tech in a report on Thursday, November 14th. Robert W. Baird lowered ESS Tech from a “neutral” rating to an “underperform” rating and dropped their price objective for the stock from $14.00 to $9.00 in a research note on Thursday, November 14th. Finally, Oppenheimer downgraded ESS Tech from an “outperform” rating to a “market perform” rating in a research note on Thursday, November 14th.

Hedge Funds Weigh In On ESS Tech

Several institutional investors have recently added to or reduced their stakes in the company. Point72 DIFC Ltd bought a new position in shares of ESS Tech during the 2nd quarter valued at approximately $32,000. Point72 Asia Singapore Pte. Ltd. bought a new position in ESS Tech during the second quarter valued at $148,000. AQR Capital Management LLC bought a new position in ESS Tech during the second quarter valued at $84,000. Finally, Vanguard Personalized Indexing Management LLC purchased a new position in shares of ESS Tech in the 2nd quarter worth $27,000. Hedge funds and other institutional investors own 46.77% of the company’s stock.

ESS Tech Trading Down 9.1 %

NYSE GWH opened at $5.57 on Friday. ESS Tech has a 12 month low of $4.35 and a 12 month high of $17.56. The stock has a market cap of $66.19 million, a price-to-earnings ratio of -0.85 and a beta of 1.32. The company’s 50 day moving average is $6.20 and its two-hundred day moving average is $7.95.

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.