Shares of ESS Tech, Inc. (NYSE:GWH – Get Free Report) have earned a consensus recommendation of “Reduce” from the nine ratings firms that are covering the company, Marketbeat reports. Two investment analysts have rated the stock with a sell recommendation and seven have assigned a hold recommendation to the company. The average 1 year price target among brokerages that have covered the stock in the last year is $8.92.
A number of equities analysts recently commented on the stock. Cowen downgraded shares of ESS Tech from a “buy” rating to a “hold” rating in a research note on Wednesday, April 2nd. Canaccord Genuity Group reduced their target price on shares of ESS Tech from $8.00 to $3.00 and set a “hold” rating for the company in a report on Tuesday, April 1st. TD Cowen cut shares of ESS Tech from a “strong-buy” rating to a “hold” rating in a report on Wednesday, April 2nd. Roth Mkm cut shares of ESS Tech from a “buy” rating to a “neutral” rating and cut their price target for the stock from $17.00 to $3.00 in a report on Tuesday, March 4th. Finally, Roth Capital set a $2.50 price target on shares of ESS Tech and gave the stock a “neutral” rating in a report on Friday, May 16th.
Get Our Latest Stock Analysis on ESS Tech
Institutional Inflows and Outflows
ESS Tech Trading Down 4.9%
Shares of GWH stock opened at $1.05 on Thursday. The firm has a fifty day moving average price of $1.98 and a 200 day moving average price of $3.75. The company has a market cap of $12.66 million, a P/E ratio of -0.16 and a beta of 1.26. ESS Tech has a 12 month low of $0.76 and a 12 month high of $14.10.
ESS Tech (NYSE:GWH – Get Free Report) last issued its earnings results on Thursday, May 15th. The company reported ($1.50) EPS for the quarter, topping analysts’ consensus estimates of ($1.66) by $0.16. The firm had revenue of $0.60 million during the quarter, compared to the consensus estimate of $3.45 million. ESS Tech had a negative net margin of 1,263.79% and a negative return on equity of 101.96%. On average, equities analysts forecast that ESS Tech will post -6.87 EPS 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.
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