Brokerages Set ESS Tech, Inc. (NYSE:GWH) Price Target at $14.58

ESS Tech, Inc. (NYSE:GWH) has earned an average rating of “Hold” from the nine brokerages that are currently covering the firm, MarketBeat Ratings reports. Two research analysts have rated the stock with a sell recommendation, four have assigned a hold recommendation, two have given a buy recommendation and one has given a strong buy recommendation to the company. The average 1 year target price among brokers that have covered the stock in the last year is $14.58.

Several analysts have recently weighed in on GWH shares. Oppenheimer lowered ESS Tech from an “outperform” rating to a “market perform” rating in a report on Thursday, November 14th. Robert W. Baird lowered shares of ESS Tech from a “neutral” rating to an “underperform” rating and lowered their price target for the company from $14.00 to $9.00 in a report on Thursday, November 14th. Baird R W downgraded shares of ESS Tech from a “strong-buy” rating to a “strong sell” rating in a report on Thursday, November 14th. Finally, Canaccord Genuity Group reissued a “hold” rating and issued a $8.00 target price on shares of ESS Tech in a research note on Thursday, November 14th.

Institutional Trading of ESS Tech

Several large investors have recently added to or reduced their stakes in the company. Vanguard Personalized Indexing Management LLC acquired a new position in shares of ESS Tech in the 2nd quarter worth approximately $27,000. Point72 DIFC Ltd acquired a new position in ESS Tech in the second quarter worth $32,000. AQR Capital Management LLC bought a new stake in shares of ESS Tech during the second quarter worth $84,000. Finally, Point72 Asia Singapore Pte. Ltd. acquired a new stake in shares of ESS Tech in the second quarter valued at $148,000. 46.77% of the stock is owned by institutional investors.

ESS Tech Stock Performance

NYSE GWH opened at $5.54 on Friday. ESS Tech has a twelve month low of $4.35 and a twelve month high of $17.56. The stock has a market cap of $65.83 million, a PE ratio of -0.85 and a beta of 1.32. The firm has a 50-day simple moving average of $6.12 and a 200 day simple moving average of $7.91.

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.