ESS Tech (NYSE:GWH) Rating Increased to Hold at Wall Street Zen

ESS Tech (NYSE:GWH) was upgraded by equities research analysts at Wall Street Zen from a “sell” rating to a “hold” rating in a research report issued to clients and investors on Saturday.

Other analysts also recently issued research reports about the stock. Robert W. Baird reduced their price objective on shares of ESS Tech from $6.00 to $2.00 and set a “neutral” rating for the company in a research report on Monday, August 18th. Roth Capital set a $3.50 price target on shares of ESS Tech and gave the stock a “buy” rating in a research note on Friday, October 10th. Finally, Weiss Ratings reissued a “sell (d-)” rating on shares of ESS Tech in a research report on Monday. One research analyst has rated the stock with a Buy rating, five have given a Hold rating and one has assigned a Sell rating to the company’s stock. According to data from MarketBeat, ESS Tech currently has a consensus rating of “Hold” and an average price target of $2.88.

ESS Tech Stock Performance

NYSE:GWH opened at $2.17 on Friday. ESS Tech has a 1 year low of $0.76 and a 1 year high of $13.87. The stock has a market cap of $42.48 million, a P/E ratio of -0.42 and a beta of 1.43. The stock has a 50-day simple moving average of $3.52 and a 200-day simple moving average of $2.22.

ESS Tech (NYSE:GWH) last issued its earnings results on Thursday, November 13th. The company reported ($0.73) earnings per share for the quarter, topping the consensus estimate of ($0.76) by $0.03. The business had revenue of $0.21 million for the quarter, compared to analyst estimates of $5.65 million. ESS Tech had a negative return on equity of 592.34% and a negative net margin of 1,045.28%. On average, equities research analysts predict that ESS Tech will post -6.87 EPS for the current year.

Hedge Funds Weigh In On ESS Tech

A hedge fund recently bought a new stake in ESS Tech stock. Citadel Advisors LLC acquired a new position in shares of ESS Tech, Inc. (NYSE:GWH) in the third quarter, according to its most recent disclosure with the SEC. The firm acquired 19,773 shares of the company’s stock, valued at approximately $30,000. Citadel Advisors LLC owned 0.14% of ESS Tech at the end of the most recent quarter. Hedge funds and other institutional investors own 46.77% of the company’s stock.

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.