Baird R W lowered shares of ESS Tech (NYSE:GWH - Free Report) from a strong-buy rating to a strong sell rating in a research report sent to investors on Thursday,Zacks.com reports.
Several other equities analysts also recently issued reports on GWH. Robert W. Baird downgraded ESS Tech from a "neutral" rating to an "underperform" rating and cut their target price for the company from $14.00 to $9.00 in a research report on Thursday. Deutsche Bank Aktiengesellschaft cut their price objective on ESS Tech from $17.25 to $13.50 and set a "hold" rating on the stock in a report on Friday, August 16th. Oppenheimer downgraded ESS Tech from an "outperform" rating to a "market perform" rating in a report on Thursday. Canaccord Genuity Group restated a "hold" rating and set a $8.00 price objective on shares of ESS Tech in a research note on Thursday. Finally, TD Cowen reduced their target price on shares of ESS Tech from $30.00 to $22.50 and set a "buy" rating for the company in a report on Thursday, August 15th. Two investment analysts have rated the stock with a sell rating, four have given a hold rating, two have given a buy rating and one has given a strong buy rating to the company's stock. According to MarketBeat, ESS Tech has an average rating of "Hold" and an average target price of $14.58.
Get Our Latest Analysis on GWH
ESS Tech Price Performance
NYSE GWH traded down $2.12 during trading on Thursday, hitting $5.21. The company's stock had a trading volume of 327,573 shares, compared to its average volume of 69,333. ESS Tech has a fifty-two week low of $5.13 and a fifty-two week high of $20.10. The company has a market cap of $61.45 million, a PE ratio of -0.92 and a beta of 1.41. The business's 50 day simple moving average is $7.15 and its 200-day simple moving average is $9.59.
ESS Tech (NYSE:GWH - Get Free Report) last released its earnings results on Wednesday, August 14th. The company reported ($27.00) EPS for the quarter, missing analysts' consensus estimates of ($24.75) by ($2.25). The company had revenue of $0.35 million during the quarter, compared to analyst estimates of $3.24 million. ESS Tech had a negative return on equity of 90.93% and a negative net margin of 1,263.79%. Analysts expect that ESS Tech will post -6.72 EPS for the current fiscal year.
Insider Activity
In other news, Director Sandeep Nijhawan sold 7,000 shares of ESS Tech stock in a transaction dated Wednesday, September 11th. The shares were sold at an average price of $5.72, for a total value of $40,040.00. Following the sale, the director now owns 15,537 shares in the company, 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 Inflows and Outflows
Hedge funds and other institutional investors have recently bought and sold shares of the stock. Vanguard Group Inc. boosted its stake in ESS Tech by 6.9% during the 1st quarter. Vanguard Group Inc. now owns 3,263,849 shares of the company's stock worth $2,361,000 after purchasing an additional 212,070 shares during the last quarter. Point72 Asia Singapore Pte. Ltd. purchased a new position in shares of ESS Tech in the second quarter worth about $148,000. AQR Capital Management LLC acquired a new position in ESS Tech during the second quarter worth about $84,000. SG Americas Securities LLC acquired a new stake in ESS Tech in the 1st quarter valued at about $31,000. Finally, CWM LLC purchased a new position in ESS Tech in the 2nd quarter worth approximately $34,000. 46.77% of the stock is owned by hedge funds and other institutional investors.
About ESS Tech
(
Get Free Report)
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.
Further Reading
Before you consider ESS Tech, you'll want to hear this.
MarketBeat keeps track of Wall Street's top-rated and best performing research analysts and the stocks they recommend to their clients on a daily basis. MarketBeat has identified the five stocks that top analysts are quietly whispering to their clients to buy now before the broader market catches on... and ESS Tech wasn't on the list.
While ESS Tech currently has a "Hold" rating among analysts, top-rated analysts believe these five stocks are better buys.
View The Five Stocks Here
Looking to avoid the hassle of mudslinging, volatility, and uncertainty? You'd need to be out of the market, which isn’t viable. So where should investors put their money? Find out with this report.
Get This Free Report
Like this article? Share it with a colleague.
Link copied to clipboard.
