ESS Tech (NYSE:GWH) Shares Down 3.1% - What's Next?

ESS Tech, Inc. (NYSE:GWH - Get Free Report)'s share price was down 3.1% during trading on Tuesday . The stock traded as low as $4.04 and last traded at $4.17. Approximately 59,736 shares changed hands during mid-day trading, a decline of 27% from the average daily volume of 81,720 shares. The stock had previously closed at $4.30.

Wall Street Analysts Forecast Growth

Several analysts have recently commented on GWH shares. Baird R W downgraded ESS Tech from a "strong-buy" rating to a "strong sell" rating in a research note on Thursday, November 14th. Oppenheimer downgraded ESS Tech from an "outperform" rating to a "market perform" rating in a research note on Thursday, November 14th. Canaccord Genuity Group reissued a "hold" rating and issued a $8.00 price objective on shares of ESS Tech in a research note on Thursday, November 14th. Finally, Robert W. Baird downgraded ESS Tech from a "neutral" rating to an "underperform" rating and decreased their price target for the company from $14.00 to $9.00 in a research report on Thursday, November 14th. Two research analysts have rated the stock with a sell rating, four have issued a hold rating, two have issued a buy rating and one has assigned a strong buy rating to the company. According to data from MarketBeat, the company has an average rating of "Hold" and a consensus target price of $14.58.

ESS Tech Stock Down 0.4 %

The company has a market capitalization of $43.08 million, a PE ratio of -0.55 and a beta of 1.31. The stock has a 50-day moving average of $5.27 and a 200 day moving average of $6.29.

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Institutional Trading of ESS Tech

An institutional investor recently raised its position in ESS Tech stock. Baird Financial Group Inc. boosted its position in ESS Tech, Inc. (NYSE:GWH - Free Report) by 78.5% in the fourth quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The fund owned 405,938 shares of the company's stock after buying an additional 178,532 shares during the quarter. Baird Financial Group Inc. owned approximately 3.42% of ESS Tech worth $2,387,000 as of its most recent filing with the Securities and Exchange Commission (SEC). 46.77% of the stock is currently owned by hedge funds and other institutional investors.

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.