ESS Tech, Inc. (NYSE:GWH) Given Average Recommendation of “Hold” by Brokerages

by · The Cerbat Gem

Shares of ESS Tech, Inc. (NYSE:GWH – Get Free Report) have been assigned a consensus rating of “Hold” from the seven research firms that are covering the firm, MarketBeat Ratings reports. One investment analyst has rated the stock with a sell rating, five have assigned a hold rating and one has assigned a buy rating to the company. The average 1-year price objective among analysts that have covered the stock in the last year is $2.8750.

GWH has been the subject of several research analyst reports. Wall Street Zen downgraded shares of ESS Tech from a “hold” rating to a “sell” rating in a research note on Saturday, October 18th. Roth Capital set a $3.50 target price on ESS Tech and gave the company a “buy” rating in a research report on Friday, October 10th. Robert W. Baird dropped their price target on ESS Tech from $6.00 to $2.00 and set a “neutral” rating on the stock in a research note on Monday, August 18th. Finally, Weiss Ratings reaffirmed a “sell (d-)” rating on shares of ESS Tech in a research report on Monday.

View Our Latest Analysis on GWH

Institutional Trading of ESS Tech

A hedge fund recently bought a new stake in ESS Tech stock. Citadel Advisors LLC purchased a new position in shares of ESS Tech, Inc. (NYSE:GWH – Free Report) in the third quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The institutional investor purchased 19,773 shares of the company’s stock, valued at approximately $30,000. Citadel Advisors LLC owned 0.14% of ESS Tech at the end of the most recent reporting period. Hedge funds and other institutional investors own 46.77% of the company’s stock.

ESS Tech Trading Down 1.1%

GWH stock opened at $2.31 on Thursday. ESS Tech has a twelve month low of $0.76 and a twelve month high of $13.87. The company’s 50 day moving average is $3.49 and its two-hundred day moving average is $2.22. The stock has a market cap of $45.22 million, a P/E ratio of -0.45 and a beta of 1.43.

ESS Tech (NYSE:GWH – Get Free Report) last issued its earnings results on Thursday, November 13th. The company reported ($0.73) earnings per share (EPS) for the quarter, beating the consensus estimate of ($0.76) by $0.03. ESS Tech had a negative net margin of 1,045.28% and a negative return on equity of 592.34%. The business had revenue of $0.21 million during the quarter, compared to analysts’ expectations of $5.65 million. On average, equities research analysts predict that ESS Tech will post -6.87 earnings per share for the current year.

ESS Tech Company Profile

(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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