TD Cowen Trims ESS Tech (NYSE:GWH) Target Price to $2.00

ESS Tech (NYSE:GWHGet Free Report) had its target price cut by equities research analysts at TD Cowen from $2.50 to $2.00 in a research note issued on Wednesday, Benzinga reports. The firm currently has a “buy” rating on the stock. TD Cowen’s target price would indicate a potential upside of 140.36% from the company’s current price.

A number of other analysts also recently issued reports on the stock. Canaccord Genuity Group cut their price objective on shares of ESS Tech from $1.75 to $1.25 and set a “hold” rating for the company in a report on Thursday, March 14th. Robert W. Baird cut their price target on ESS Tech from $4.00 to $3.00 and set an “outperform” rating for the company in a research note on Thursday, March 14th. Finally, Chardan Capital lowered their price objective on shares of ESS Tech from $1.90 to $0.80 and set a “neutral” rating for the company in a research note on Friday, March 15th.

Read Our Latest Stock Report on GWH

ESS Tech Trading Up 6.1 %

ESS Tech stock opened at $0.83 on Wednesday. The company has a market capitalization of $145.53 million, a price-to-earnings ratio of -1.70 and a beta of 1.51. ESS Tech has a 12 month low of $0.61 and a 12 month high of $2.12. The stock’s 50 day moving average is $0.75 and its 200-day moving average is $0.98.

ESS Tech (NYSE:GWHGet Free Report) last posted its quarterly earnings data on Wednesday, March 13th. The company reported ($0.09) earnings per share for the quarter, topping the consensus estimate of ($0.13) by $0.04. The firm had revenue of $2.80 million for the quarter, compared to analysts’ expectations of $4.08 million. ESS Tech had a negative return on equity of 71.44% and a negative net margin of 1,028.89%. As a group, equities research analysts predict that ESS Tech will post -0.41 earnings per share for the current fiscal year.

Insider Activity

In other news, Director Harry Quarls acquired 42,690 shares of ESS Tech stock in a transaction on Thursday, May 9th. The stock was acquired at an average cost of $0.84 per share, with a total value of $35,859.60. Following the transaction, the director now owns 366,146 shares of the company’s stock, valued at approximately $307,562.64. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available through the SEC website. 1.80% of the stock is currently owned by corporate insiders.

Institutional Inflows and Outflows

A number of institutional investors have recently bought and sold shares of the business. SG Americas Securities LLC bought a new stake in shares of ESS Tech during the 1st quarter worth $31,000. Pathstone Family Office LLC bought a new stake in ESS Tech in the third quarter worth about $75,000. Cerity Partners LLC purchased a new position in ESS Tech in the fourth quarter valued at about $81,000. Green Alpha Advisors LLC grew its position in shares of ESS Tech by 11.7% during the 1st quarter. Green Alpha Advisors LLC now owns 219,440 shares of the company’s stock valued at $159,000 after acquiring an additional 23,022 shares during the period. Finally, Healthcare of Ontario Pension Plan Trust Fund increased its stake in shares of ESS Tech by 9.6% during the 3rd quarter. Healthcare of Ontario Pension Plan Trust Fund now owns 132,302 shares of the company’s stock worth $249,000 after purchasing an additional 11,616 shares during the last quarter. Institutional investors own 46.77% of the company’s stock.

About ESS Tech

(Get Free Report)

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.

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