ESS Tech, Inc. (NYSE:GWH) Receives Consensus Recommendation of “Moderate Buy” from Analysts

Shares of ESS Tech, Inc. (NYSE:GWH) have received an average rating of “Moderate Buy” from the six analysts that are presently covering the stock, MarketBeat Ratings reports. Two investment analysts have rated the stock with a hold recommendation, three have assigned a buy recommendation and one has assigned a strong buy recommendation to the company. The average twelve-month target price among brokers that have covered the stock in the last year is $2.01.

Several research analysts recently commented on the stock. TD Cowen cut their price target on shares of ESS Tech from $2.50 to $2.00 and set a “buy” rating on the stock in a report on Wednesday, May 8th. Roth Mkm assumed coverage on shares of ESS Tech in a report on Friday, July 12th. They issued a “buy” rating and a $1.50 price target on the stock. Finally, Roth Capital upgraded shares of ESS Tech to a “strong-buy” rating in a report on Friday, July 12th.

ESS Tech Price Performance

Shares of GWH stock opened at $0.65 on Wednesday. ESS Tech has a 1-year low of $0.61 and a 1-year high of $2.11. The firm’s 50-day simple moving average is $0.77 and its 200-day simple moving average is $0.79. The firm has a market cap of $113.70 million, a P/E ratio of -1.44 and a beta of 1.52.

Institutional Trading of ESS Tech

A number of hedge funds have recently made changes to their positions in the company. Vanguard Group Inc. grew its position in shares of 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 buying an additional 212,070 shares in the last quarter. Cerity Partners LLC acquired a new stake in shares of ESS Tech during the fourth quarter worth approximately $81,000. SG Americas Securities LLC acquired a new stake in shares of ESS Tech during the first quarter worth approximately $31,000. CWM LLC acquired a new stake in shares of ESS Tech during the second quarter worth approximately $34,000. Finally, Paloma Partners Management Co acquired a new stake in shares of ESS Tech during the first quarter worth approximately $27,000. Hedge funds and other institutional investors own 46.77% of the company’s stock.

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.