ESS Tech, Inc. (NYSE:GWH) Receives $2.88 Consensus Target Price from Analysts

ESS Tech, Inc. (NYSE:GWH) has received a consensus recommendation of “Hold” from the seven research firms that are covering the stock, MarketBeat Ratings reports. One equities research analyst has rated the stock with a sell recommendation, five have given a hold recommendation and one has assigned a buy recommendation to the company. The average 1-year target price among brokerages that have issued a report on the stock in the last year is $2.8750.

A number of equities research analysts have commented on the company. Robert W. Baird decreased their price target on ESS Tech from $6.00 to $2.00 and set a “neutral” rating for the company in a research note on Monday, August 18th. Wall Street Zen raised shares of ESS Tech from a “sell” rating to a “hold” rating in a research report on Saturday. Roth Capital set a $3.50 target price on shares of ESS Tech and gave the stock a “buy” rating in a research report on Friday, October 10th. Finally, Weiss Ratings restated a “sell (d-)” rating on shares of ESS Tech in a research note on Monday, December 1st.

ESS Tech Stock Up 3.9%

Shares of GWH opened at $2.25 on Thursday. The company has a 50 day moving average of $3.53 and a two-hundred day moving average of $2.23. ESS Tech has a twelve month low of $0.76 and a twelve month high of $13.87. The company has a market cap of $44.05 million, a price-to-earnings ratio of -0.44 and a beta of 1.43.

ESS Tech (NYSE:GWH) last issued its quarterly earnings results on Thursday, November 13th. The company reported ($0.73) earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of ($0.76) by $0.03. The business had revenue of $0.21 million for the quarter, compared to the consensus estimate 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, sell-side analysts expect 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 purchased a new position in shares of ESS Tech, Inc. (NYSE:GWH) in the third quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission. The fund purchased 19,773 shares of the company’s stock, valued at approximately $30,000. Citadel Advisors LLC owned 0.14% of ESS Tech as of its most recent filing with the Securities and Exchange Commission. 46.77% of the stock is owned by 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.