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

Shares of ESS Tech, Inc. (NYSE:GWH) have earned a consensus rating of “Reduce” from the nine ratings firms that are presently covering the stock, Marketbeat Ratings reports. Two equities research analysts have rated the stock with a sell rating, six have given a hold rating and one has given a buy rating to the company. The average 1 year price target among brokerages that have covered the stock in the last year is $11.33.

GWH has been the subject of a number of research reports. Canaccord Genuity Group restated a “hold” rating and issued a $8.00 price objective on shares of ESS Tech in a report on Thursday, November 14th. Robert W. Baird cut shares of ESS Tech from a “neutral” rating to an “underperform” rating and lowered their target price for the company from $14.00 to $9.00 in a report on Thursday, November 14th. Roth Capital cut shares of ESS Tech from a “strong-buy” rating to a “hold” rating in a report on Tuesday, March 4th. Baird R W downgraded shares of ESS Tech from a “strong-buy” rating to a “strong sell” rating in a research report on Thursday, November 14th. Finally, Oppenheimer downgraded shares of ESS Tech from an “outperform” rating to a “market perform” rating in a research report on Thursday, November 14th.

Institutional Inflows and Outflows

A hedge fund recently raised its stake in ESS Tech stock. Baird Financial Group Inc. boosted its holdings in ESS Tech, Inc. (NYSE:GWH) by 78.5% during the 4th quarter, according to its most recent disclosure with the SEC. The firm owned 405,938 shares of the company’s stock after buying an additional 178,532 shares during the period. Baird Financial Group Inc. owned approximately 3.42% of ESS Tech worth $2,387,000 at the end of the most recent reporting period. Institutional investors and hedge funds own 46.77% of the company’s stock.

ESS Tech Price Performance

Shares of GWH stock opened at $3.05 on Tuesday. The firm’s 50-day moving average is $5.00 and its two-hundred day moving average is $6.01. ESS Tech has a 12 month low of $2.92 and a 12 month high of $14.10. The company has a market capitalization of $36.18 million, a PE ratio of -0.47 and a beta of 1.37.

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.