ESS Tech, Inc. (NYSE:GWH - Get Free Report) has been given a consensus recommendation of "Hold" by the nine brokerages that are presently covering the firm, Marketbeat reports. Two equities 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 1-year target price among brokers that have issued a report on the stock in the last year is $14.58.
GWH has been the topic of several research reports. Baird R W downgraded ESS Tech from a "strong-buy" rating to a "strong sell" rating in a research report on Thursday, November 14th. Robert W. Baird cut 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 note on Thursday, November 14th. Oppenheimer downgraded ESS Tech from an "outperform" rating to a "market perform" rating in a report on Thursday, November 14th. Finally, Canaccord Genuity Group reissued a "hold" rating and set a $8.00 price target on shares of ESS Tech in a research report on Thursday, November 14th.
Read Our Latest Stock Report on GWH
ESS Tech Price Performance
ESS Tech stock traded down $0.01 during mid-day trading on Wednesday, reaching $5.49. 66,340 shares of the company traded hands, compared to its average volume of 60,628. ESS Tech has a fifty-two week low of $4.35 and a fifty-two week high of $16.50. The firm's fifty day moving average is $5.58 and its two-hundred day moving average is $7.20. The company has a market capitalization of $65.22 million, a price-to-earnings ratio of -0.84 and a beta of 1.32.
Institutional Trading of ESS Tech
A number of institutional investors and hedge funds have recently modified their holdings of GWH. Vanguard Personalized Indexing Management LLC acquired a new stake in ESS Tech in the 2nd quarter worth about $27,000. AQR Capital Management LLC acquired a new stake in shares of ESS Tech in the second quarter worth approximately $84,000. Point72 Asia Singapore Pte. Ltd. purchased a new stake in shares of ESS Tech during the second quarter worth approximately $148,000. Finally, Point72 DIFC Ltd acquired a new position in ESS Tech in the 2nd quarter valued at $32,000. Hedge funds and other institutional investors own 46.77% of the company's stock.
About ESS Tech
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Get Free ReportESS 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.
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