ESS Tech (NYSE:GWH) Stock Rating Lowered by Roth Mkm

ESS Tech (NYSE:GWH) was downgraded by stock analysts at Roth Mkm from a “buy” rating to a “neutral” rating in a research note issued to investors on Tuesday, MarketBeat reports. They currently have a $3.00 target price on the stock, down from their prior target price of $17.00. Roth Mkm’s price objective would suggest a potential downside of 8.26% from the company’s current price.

Several other research firms have also recently issued reports on GWH. Robert W. Baird cut ESS Tech from a “neutral” rating to an “underperform” rating and cut their target price for the stock from $14.00 to $9.00 in a research note on Thursday, November 14th. Canaccord Genuity Group reiterated a “hold” rating and issued a $8.00 price objective on shares of ESS Tech in a research report on Thursday, November 14th. Baird R W downgraded ESS Tech from a “strong-buy” rating to a “strong sell” rating in a report on Thursday, November 14th. Finally, Oppenheimer lowered ESS Tech from an “outperform” rating to a “market perform” rating in a research note on Thursday, November 14th. Two analysts have rated the stock with a sell rating, five have assigned a hold rating, one has issued a buy rating and one has issued a strong buy rating to the company’s stock. Based on data from MarketBeat.com, ESS Tech has an average rating of “Hold” and a consensus price target of $11.33.

ESS Tech Stock Down 9.4 %

Shares of ESS Tech stock opened at $3.27 on Tuesday. The company’s fifty day simple moving average is $5.24 and its two-hundred day simple moving average is $6.19. ESS Tech has a 12-month low of $3.22 and a 12-month high of $14.10. The firm has a market cap of $38.86 million, a PE ratio of -0.50 and a beta of 1.31.

Institutional Inflows and Outflows

A hedge fund recently raised its stake in ESS Tech stock. Baird Financial Group Inc. boosted its position in ESS Tech, Inc. (NYSE:GWH) by 78.5% in the fourth quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission. The institutional investor owned 405,938 shares of the company’s stock after purchasing an additional 178,532 shares during the quarter. Baird Financial Group Inc. owned approximately 3.42% of ESS Tech worth $2,387,000 at the end of the most recent quarter. 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.