ESS Tech, Inc. (NYSE:GWH) Receives $14.58 Consensus Target Price from Analysts

ESS Tech, Inc. (NYSE:GWH) has been given a consensus rating of “Hold” by the nine ratings firms that are presently covering the company, Marketbeat.com reports. Two analysts have rated the stock with a sell recommendation, four have given a hold recommendation, two have assigned a buy recommendation and one has assigned a strong buy recommendation to the company. The average 1 year target price among brokerages that have issued a report on the stock in the last year is $14.58.

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

ESS Tech Stock Performance

NYSE GWH opened at $5.57 on Friday. The company has a market cap of $66.19 million, a P/E ratio of -0.85 and a beta of 1.32. The business’s 50 day moving average price is $6.20 and its 200-day moving average price is $7.95. ESS Tech has a fifty-two week low of $4.35 and a fifty-two week high of $17.56.

Institutional Inflows and Outflows

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

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.