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

ESS Tech, Inc. (NYSE:GWH - Get Free Report) has been given a consensus rating of "Moderate Buy" by the seven analysts that are covering the firm, MarketBeat Ratings reports. Three research analysts have rated the stock with a hold recommendation, three have assigned a buy recommendation and one has issued a strong buy recommendation on the company. The average 12-month price objective among analysts that have issued a report on the stock in the last year is $21.75.

A number of equities analysts have commented on the company. Roth Mkm assumed coverage on ESS Tech in a research note on Friday, July 12th. They issued a "buy" rating and a $22.50 target price for the company. TD Cowen lowered their price objective on ESS Tech from $30.00 to $22.50 and set a "buy" rating for the company in a research note on Thursday, August 15th. Roth Capital upgraded ESS Tech to a "strong-buy" rating in a research note on Friday, July 12th. Deutsche Bank Aktiengesellschaft lowered their price target on shares of ESS Tech from $17.25 to $13.50 and set a "hold" rating for the company in a research report on Friday, August 16th. Finally, Canaccord Genuity Group cut their price objective on shares of ESS Tech from $18.75 to $15.00 and set a "hold" rating on the stock in a research report on Friday, August 16th.

Insider Buying and Selling

In related news, Director Sandeep Nijhawan sold 7,000 shares of the firm's stock in a transaction that occurred on Wednesday, September 11th. The shares were sold at an average price of $5.72, for a total transaction of $40,040.00. Following the transaction, the director now owns 15,537 shares in the company, valued at $88,871.64. This trade represents a 0.00 % decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available through the SEC website. Corporate insiders own 2.30% of the company's stock.

Institutional Inflows and Outflows

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

ESS Tech Trading Down 7.2 %

NYSE GWH traded down $0.61 during trading hours on Monday, reaching $7.88. 85,533 shares of the company traded hands, compared to its average volume of 64,986. The company has a 50 day moving average of $7.07 and a two-hundred day moving average of $9.88. ESS Tech has a 12 month low of $5.20 and a 12 month high of $22.65. The stock has a market capitalization of $92.91 million, a PE ratio of -1.25 and a beta of 1.47.

ESS Tech (NYSE:GWH - Get Free Report) last posted its quarterly earnings results on Wednesday, August 14th. The company reported ($27.00) earnings per share (EPS) for the quarter, missing the consensus estimate of ($24.75) by ($2.25). ESS Tech had a negative net margin of 982.87% and a negative return on equity of 77.52%. The firm had revenue of $0.35 million for the quarter, compared to analyst estimates of $3.24 million. On average, equities research analysts anticipate that ESS Tech will post -6.72 earnings per share for the current 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.