ESS Tech, Inc. (NYSE:GWH) Receives $14.58 Consensus Price Target from Analysts

ESS Tech, Inc. (NYSE:GWH) has received an average rating of “Hold” from the nine analysts that are covering the company, Marketbeat.com reports. Two analysts have rated the stock with a sell rating, four have issued a hold rating, two have given a buy rating and one has issued a strong buy rating on the company. The average 12 month price target among analysts that have covered the stock in the last year is $14.58.

GWH has been the subject of a number of recent research reports. Baird R W downgraded ESS Tech from a “strong-buy” rating to a “strong sell” rating in a research report on Thursday. Canaccord Genuity Group reiterated a “hold” rating and issued a $8.00 price target on shares of ESS Tech in a research report on Thursday. Deutsche Bank Aktiengesellschaft reduced their price target on ESS Tech from $17.25 to $13.50 and set a “hold” rating for the company in a research report on Friday, August 16th. Robert W. Baird cut ESS Tech from a “neutral” rating to an “underperform” rating and reduced their price target for the company from $14.00 to $9.00 in a research report on Thursday. Finally, TD Cowen reduced their price target on ESS Tech from $30.00 to $22.50 and set a “buy” rating for the company in a research report on Thursday, August 15th.

Insider Activity at ESS Tech

In related news, Director Sandeep Nijhawan sold 7,000 shares of ESS Tech stock in a transaction on Wednesday, September 11th. The stock was sold at an average price of $5.72, for a total transaction of $40,040.00. Following the completion of the sale, the director now owns 15,537 shares of the company’s stock, valued at approximately $88,871.64. This trade represents a 31.06 % decrease in their ownership of the stock. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is accessible through the SEC website. 2.30% of the stock is owned by corporate insiders.

Institutional Investors Weigh In On ESS Tech

Several large investors have recently added to or reduced their stakes in the business. SG Americas Securities LLC bought a new stake in ESS Tech during the first quarter worth about $31,000. Vanguard Group Inc. lifted its stake in ESS Tech by 6.9% during the first quarter. Vanguard Group Inc. now owns 3,263,849 shares of the company’s stock worth $2,361,000 after purchasing an additional 212,070 shares during the last quarter. Paloma Partners Management Co bought a new stake in ESS Tech during the first quarter worth about $27,000. CWM LLC bought a new stake in ESS Tech during the second quarter worth about $34,000. Finally, Vanguard Personalized Indexing Management LLC bought a new stake in ESS Tech during the second quarter worth about $27,000. Institutional investors own 46.77% of the company’s stock.

ESS Tech Price Performance

NYSE:GWH opened at $5.21 on Friday. The business has a fifty day simple moving average of $7.14 and a two-hundred day simple moving average of $9.53. ESS Tech has a 1 year low of $5.13 and a 1 year high of $20.10. The company has a market capitalization of $61.43 million, a P/E ratio of -0.80 and a beta of 1.41.

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.