ESS Tech, Inc. (NYSE:GWH - Get Free Report) hit a new 52-week high during mid-day trading on Monday . The company traded as high as $8.00 and last traded at $7.72, with a volume of 40463 shares traded. The stock had previously closed at $0.55.
Wall Street Analyst Weigh In
A number of brokerages recently commented on GWH. Roth Mkm initiated coverage on ESS Tech in a report on Friday, July 12th. They issued a "buy" rating and a $1.50 price target for the company. TD Cowen decreased their price target on shares of ESS Tech from $2.00 to $1.50 and set a "buy" rating for the company in a research report on Thursday, August 15th. Canaccord Genuity Group cut their price target on shares of ESS Tech from $1.25 to $1.00 and set a "hold" rating on the stock in a report on Friday, August 16th. Deutsche Bank Aktiengesellschaft reduced their price objective on shares of ESS Tech from $1.15 to $0.90 and set a "hold" rating on the stock in a research note on Friday, August 16th. Finally, Roth Capital raised shares of ESS Tech to a "strong-buy" rating in a research report on Friday, July 12th. Three equities research analysts have rated the stock with a hold rating, three have issued a buy rating and one has issued a strong buy rating to the company. According to MarketBeat.com, ESS Tech presently has a consensus rating of "Moderate Buy" and an average target price of $1.74.
Get Our Latest Analysis on GWH
ESS Tech Trading Up 1,392.1 %
The stock's 50-day moving average price is $0.74 and its 200-day moving average price is $0.77. The company has a market capitalization of $1.44 billion, a P/E ratio of -17.74 and a beta of 1.52.
Institutional Trading of ESS Tech
A number of institutional investors and hedge funds have recently made changes to their positions in GWH. Vanguard Group Inc. increased its holdings in shares of ESS Tech by 6.9% in the 1st quarter. Vanguard Group Inc. now owns 3,263,849 shares of the company's stock worth $2,361,000 after acquiring an additional 212,070 shares during the period. Green Alpha Advisors LLC increased its stake in shares of ESS Tech by 11.7% in the first quarter. Green Alpha Advisors LLC now owns 219,440 shares of the company's stock valued at $159,000 after purchasing an additional 23,022 shares during the period. Point72 Asia Singapore Pte. Ltd. bought a new stake in shares of ESS Tech during the second quarter valued at approximately $148,000. AQR Capital Management LLC acquired a new position in shares of ESS Tech during the second quarter worth approximately $84,000. Finally, Cerity Partners LLC bought a new position in ESS Tech in the 4th quarter worth approximately $81,000. 46.77% of the stock is currently owned by institutional investors and hedge funds.
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.
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