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

ESS Tech, Inc. (NYSE:GWH) has received an average rating of “Moderate Buy” from the six brokerages that are presently covering the company, MarketBeat reports. Two analysts have rated the stock with a hold recommendation, three have given a buy recommendation and one has issued a strong buy recommendation on the company. The average 1-year target price among brokerages that have issued a report on the stock in the last year is $2.01.

Several analysts have weighed in on GWH shares. Roth Capital raised shares of ESS Tech to a “strong-buy” rating in a research note on Friday, July 12th. Roth Mkm started coverage on shares of ESS Tech in a research note on Friday, July 12th. They set a “buy” rating and a $1.50 price objective on the stock. Finally, TD Cowen decreased their price objective on shares of ESS Tech from $2.50 to $2.00 and set a “buy” rating on the stock in a research note on Wednesday, May 8th.

Insider Transactions at ESS Tech

In related news, Director Harry Quarls bought 42,690 shares of ESS Tech stock in a transaction dated Thursday, May 9th. The shares were bought at an average cost of $0.84 per share, for a total transaction of $35,859.60. Following the completion of the transaction, the director now owns 366,146 shares of the company’s stock, valued at $307,562.64. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this hyperlink. 1.80% of the stock is owned by company insiders.

Hedge Funds Weigh In On ESS Tech

A number of large investors have recently modified their holdings of the stock. CWM LLC acquired a new position in ESS Tech in the second quarter valued at approximately $34,000. Paloma Partners Management Co acquired a new position in ESS Tech in the first quarter valued at approximately $27,000. Vanguard Group Inc. lifted its holdings in ESS Tech by 6.9% in the first quarter. Vanguard Group Inc. now owns 3,263,849 shares of the company’s stock valued at $2,361,000 after buying an additional 212,070 shares during the period. SG Americas Securities LLC acquired a new position in ESS Tech in the first quarter valued at approximately $31,000. Finally, Green Alpha Advisors LLC lifted its holdings in ESS Tech by 11.7% in the first quarter. Green Alpha Advisors LLC now owns 219,440 shares of the company’s stock valued at $159,000 after buying an additional 23,022 shares during the period. 46.77% of the stock is currently owned by institutional investors and hedge funds.

ESS Tech Stock Down 0.7 %

NYSE GWH opened at $0.80 on Friday. The stock has a market cap of $139.88 million, a P/E ratio of -1.78 and a beta of 1.52. The company’s 50-day simple moving average is $0.78 and its 200 day simple moving average is $0.83. ESS Tech has a twelve month low of $0.61 and a twelve month high of $2.11.

ESS Tech (NYSE:GWH) last posted its earnings results on Tuesday, May 7th. The company reported ($0.10) earnings per share for the quarter, beating analysts’ consensus estimates of ($0.13) by $0.03. The business had revenue of $2.74 million for the quarter, compared to analysts’ expectations of $3.21 million. ESS Tech had a negative net margin of 746.89% and a negative return on equity of 73.08%. Research analysts anticipate that ESS Tech will post -0.42 earnings per share for the current year.

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.