ESS Tech (NYSE:GWH) Cut to Neutral at Roth Mkm

Roth Mkm cut shares of ESS Tech (NYSE:GWH) from a buy rating to a neutral rating in a research note released on Tuesday morning, MarketBeat Ratings reports. Roth Mkm currently has $3.00 price objective on the stock, down from their previous price objective of $17.00.

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

ESS Tech Price Performance

Shares of ESS Tech stock opened at $3.18 on Tuesday. The firm has a fifty day moving average price of $5.12 and a 200 day moving average price of $6.10. ESS Tech has a 1 year low of $2.92 and a 1 year high of $14.10. The stock has a market cap of $37.73 million, a PE ratio of -0.48 and a beta of 1.37.

Institutional Trading of ESS Tech

A hedge fund recently raised its stake in ESS Tech stock. Baird Financial Group Inc. grew its stake in ESS Tech, Inc. (NYSE:GWH) by 78.5% during the 4th quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The firm 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 as of its most recent SEC filing. Hedge funds and other 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.