Brokerages Set ESS Tech, Inc. (NYSE:GWH) Target Price at $14.58

ESS Tech, Inc. (NYSE:GWH - Get Free Report) has been assigned a consensus rating of "Hold" from the nine analysts that are presently covering the firm, Marketbeat reports. Two research analysts have rated the stock with a sell rating, four have assigned a hold rating, two have assigned a buy rating and one has issued a strong buy rating on the company. The average twelve-month price target among analysts that have issued a report on the stock in the last year is $14.58.

GWH has been the topic of several recent research reports. Oppenheimer downgraded shares of ESS Tech from an "outperform" rating to a "market perform" rating in a research note on Thursday, November 14th. Baird R W lowered ESS Tech from a "strong-buy" rating to a "strong sell" rating in a research report on Thursday, November 14th. Canaccord Genuity Group reiterated a "hold" rating and issued a $8.00 target price on shares of ESS Tech in a report on Thursday, November 14th. Finally, Robert W. Baird downgraded ESS Tech from a "neutral" rating to an "underperform" rating and cut their price target for the stock from $14.00 to $9.00 in a report on Thursday, November 14th.

Institutional Investors Weigh In On ESS Tech

Several institutional investors have recently added to or reduced their stakes in GWH. Vanguard Personalized Indexing Management LLC purchased a new position in ESS Tech in the second quarter valued at approximately $27,000. Point72 DIFC Ltd purchased a new position in shares of ESS Tech in the 2nd quarter valued at $32,000. Point72 Asia Singapore Pte. Ltd. acquired a new stake in ESS Tech during the 2nd quarter worth $148,000. Finally, AQR Capital Management LLC purchased a new stake in ESS Tech in the second quarter valued at $84,000. Hedge funds and other institutional investors own 46.77% of the company's stock.

ESS Tech Stock Up 4.4 %

NYSE GWH traded up $0.27 during trading on Friday, hitting $6.34. The stock had a trading volume of 65,867 shares, compared to its average volume of 66,883. The company has a market capitalization of $75.34 million, a PE ratio of -0.97 and a beta of 1.33. The firm has a 50 day moving average price of $6.31 and a 200 day moving average price of $8.10. ESS Tech has a twelve month low of $4.35 and a twelve month high of $17.56.

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.