ESS Tech, Inc. (NYSE:GWH) Receives Average Recommendation of "Moderate Buy" from Analysts

Shares of ESS Tech, Inc. (NYSE:GWH - Get Free Report) have earned an average recommendation of "Moderate Buy" from the seven analysts that are presently covering the stock, MarketBeat.com reports. Three investment analysts have rated the stock with a hold recommendation, three have given a buy recommendation and one has assigned a strong buy recommendation to the company. The average 1 year target price among brokers that have covered the stock in the last year is $0.12.

Several equities analysts have commented on the company. Deutsche Bank Aktiengesellschaft cut their price target on ESS Tech from $0.08 to $0.06 and set a "hold" rating for the company in a report on Friday, August 16th. TD Cowen lowered their price target on shares of ESS Tech from $0.13 to $0.10 and set a "buy" rating on the stock in a report on Thursday, August 15th. Roth Capital upgraded shares of ESS Tech to a "strong-buy" rating in a research note on Friday, July 12th. Roth Mkm began coverage on ESS Tech in a research report on Friday, July 12th. They issued a "buy" rating and a $0.10 price target on the stock. Finally, Canaccord Genuity Group cut their price objective on ESS Tech from $0.08 to $0.07 and set a "hold" rating for the company in a report on Friday, August 16th.

Insiders Place Their Bets

In other ESS Tech news, Director Sandeep Nijhawan sold 7,000 shares of the stock in a transaction dated Wednesday, September 11th. The shares were sold at an average price of $5.72, for a total transaction of $40,040.00. Following the sale, the director now owns 15,537 shares of the company's stock, valued at approximately $88,871.64. The sale was disclosed in a legal filing with the SEC, which can be accessed through this hyperlink. Insiders own 1.80% of the company's stock.

Institutional Inflows and Outflows

A number of hedge funds have recently bought and sold shares of GWH. Paloma Partners Management Co acquired a new position in shares of ESS Tech during the first quarter valued at $27,000. Vanguard Personalized Indexing Management LLC bought a new stake in shares of ESS Tech during the second quarter worth approximately $27,000. SG Americas Securities LLC bought a new stake in shares of ESS Tech during the 1st quarter valued at $31,000. Point72 DIFC Ltd bought a new stake in shares of ESS Tech in the 2nd quarter valued at about $32,000. Finally, CWM LLC bought a new position in ESS Tech during the second quarter worth about $34,000. 46.77% of the stock is currently owned by institutional investors.

ESS Tech Price Performance

GWH stock traded up $0.60 on Thursday, reaching $6.46. 76,301 shares of the company were exchanged, compared to its average volume of 65,840. The firm has a market capitalization of $76.16 million, a PE ratio of -14.13 and a beta of 1.48. ESS Tech has a 12 month low of $5.20 and a 12 month high of $31.65. The stock's fifty day moving average price is $2.75 and its 200 day moving average price is $0.99.

ESS Tech (NYSE:GWH - Get Free Report) last posted its quarterly earnings data on Wednesday, August 14th. The company reported ($0.12) earnings per share (EPS) for the quarter, missing the consensus estimate of ($0.11) by ($0.01). ESS Tech had a negative return on equity of 77.52% and a negative net margin of 982.87%. The company had revenue of $0.35 million for the quarter, compared to the consensus estimate of $3.24 million. As a group, research analysts expect that ESS Tech will post -6.74 EPS for the current fiscal year.

About ESS Tech

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.