ESS Tech, Inc. (NYSE:GWH) Given Consensus Recommendation of “Reduce” by Brokerages

Shares of ESS Tech, Inc. (NYSE:GWH) have been assigned a consensus rating of “Reduce” from the eight analysts that are currently covering the company, MarketBeat Ratings reports. One equities research analyst has rated the stock with a sell rating and seven have assigned a hold rating to the company. The average twelve-month price target among brokerages that have issued a report on the stock in the last year is $2.6250.

Separately, Robert W. Baird cut their price target on shares of ESS Tech from $6.00 to $2.00 and set a “neutral” rating for the company in a report on Monday, August 18th.

ESS Tech Trading Down 0.6%

Shares of ESS Tech stock opened at $1.64 on Friday. The company has a 50 day moving average of $1.65 and a 200-day moving average of $1.93. ESS Tech has a 1-year low of $0.76 and a 1-year high of $10.12. The company has a market cap of $23.88 million, a PE ratio of -0.26 and a beta of 1.22.

ESS Tech (NYSE:GWH) last issued its quarterly earnings results on Thursday, August 14th. The company reported ($0.90) earnings per share for the quarter, missing analysts’ consensus estimates of ($0.88) by ($0.02). ESS Tech had a negative return on equity of 321.20% and a negative net margin of 1,217.22%.The firm had revenue of $2.36 million for the quarter, compared to the consensus estimate of $0.60 million. Research analysts forecast that ESS Tech will post -6.87 earnings per share for the current year.

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.