ESS Tech, Inc. (NYSE:GWH) Receives Average Rating of "Hold" from Analysts

ESS Tech, Inc. (NYSE:GWH - Get Free Report) has been assigned a consensus recommendation of "Hold" from the nine research firms that are currently covering the stock, Marketbeat.com reports. Two research analysts have rated the stock with a sell recommendation, four have assigned a hold recommendation, two have given a buy recommendation and one has given a strong buy recommendation to the company. The average 12-month target price among brokerages that have issued ratings on the stock in the last year is $14.58.

Several analysts have recently weighed in on GWH shares. Robert W. Baird downgraded shares of ESS Tech from a "neutral" rating to an "underperform" rating and reduced their price objective for the stock from $14.00 to $9.00 in a research report on Thursday, November 14th. Oppenheimer cut shares of ESS Tech from an "outperform" rating to a "market perform" rating in a research report on Thursday, November 14th. Canaccord Genuity Group reaffirmed a "hold" rating and set a $8.00 price objective on shares of ESS Tech in a report on Thursday, November 14th. TD Cowen cut their target price on ESS Tech from $30.00 to $22.50 and set a "buy" rating on the stock in a research report on Thursday, August 15th. Finally, Baird R W cut ESS Tech from a "strong-buy" rating to a "strong sell" rating in a research report on Thursday, November 14th.

Insider Transactions at ESS Tech

In related news, Director Sandeep Nijhawan sold 7,000 shares of the stock in a transaction on Wednesday, September 11th. The stock was sold at an average price of $5.72, for a total transaction of $40,040.00. Following the completion of the sale, the director now directly owns 15,537 shares of the company's stock, valued at $88,871.64. This trade represents a 31.06 % decrease in their ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available through this link. Insiders own 2.30% of the company's stock.

Institutional Trading of ESS Tech

Several hedge funds have recently made changes to their positions in the company. Point72 DIFC Ltd purchased a new position in ESS Tech during the second quarter worth about $32,000. Point72 Asia Singapore Pte. Ltd. acquired a new stake in shares of ESS Tech in the 2nd quarter valued at approximately $148,000. AQR Capital Management LLC purchased a new stake in shares of ESS Tech in the second quarter valued at approximately $84,000. Vanguard Personalized Indexing Management LLC acquired a new position in ESS Tech during the second quarter worth $27,000. Finally, CWM LLC purchased a new position in ESS Tech in the second quarter worth $34,000. Institutional investors and hedge funds own 46.77% of the company's stock.

ESS Tech Stock Down 6.2 %

ESS Tech stock traded down $0.36 during midday trading on Tuesday, reaching $5.49. The company's stock had a trading volume of 38,194 shares, compared to its average volume of 71,135. The business has a 50-day simple moving average of $7.07 and a 200-day simple moving average of $8.83. The company has a market cap of $65.24 million, a P/E ratio of -0.84 and a beta of 1.33. ESS Tech has a fifty-two week low of $4.68 and a fifty-two week high of $20.10.

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.