Brokerages Set ESS Tech, Inc. (NYSE:GWH) Target Price at $8.92

Shares of ESS Tech, Inc. (NYSE:GWHGet 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

A hedge fund recently raised its stake in ESS Tech stock. Baird Financial Group Inc. grew its holdings in ESS Tech, Inc. (NYSE:GWHFree Report) by 78.5% during the 4th quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The fund owned 405,938 shares of the company’s stock after purchasing an additional 178,532 shares during the quarter. Baird Financial Group Inc. owned approximately 3.42% of ESS Tech worth $2,387,000 at the end of the most recent quarter. 46.77% of the stock is owned by institutional investors and hedge funds.

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:GWHGet 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

(Get Free Report

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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Analyst Recommendations for ESS Tech (NYSE:GWH)

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