ESS Tech, Inc. (NYSE:GWH) Given Consensus Recommendation of “Reduce” by Analysts

ESS Tech, Inc. (NYSE:GWH) has received an average recommendation of “Reduce” from the nine analysts that are currently covering the firm, Marketbeat reports. Two analysts have rated the stock with a sell rating, six have given a hold rating and one has issued a buy rating on the company. The average 1 year target price among brokers that have issued ratings on the stock in the last year is $11.33.

Several research analysts have recently weighed in on GWH shares. Roth Capital cut shares of ESS Tech from a “strong-buy” rating to a “hold” rating in a research note on Tuesday, March 4th. Baird R W lowered ESS Tech from a “strong-buy” rating to a “strong sell” rating in a research report on Thursday, November 14th. Canaccord Genuity Group reissued a “hold” rating and set a $8.00 price target on shares of ESS Tech in a research note on Thursday, November 14th. Oppenheimer lowered shares of ESS Tech from an “outperform” rating to a “market perform” rating in a research report on Thursday, November 14th. Finally, Robert W. Baird lowered ESS Tech from a “neutral” rating to an “underperform” rating and lowered their price objective for the company from $14.00 to $9.00 in a research note on Thursday, November 14th.

Hedge Funds Weigh In On ESS Tech

An institutional investor recently raised its position in ESS Tech stock. Baird Financial Group Inc. lifted its position in ESS Tech, Inc. (NYSE:GWH) by 78.5% in the 4th quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission (SEC). The firm owned 405,938 shares of the company’s stock after purchasing an additional 178,532 shares during the period. Baird Financial Group Inc. owned about 3.42% of ESS Tech worth $2,387,000 as of its most recent filing with the Securities and Exchange Commission (SEC). Hedge funds and other institutional investors own 46.77% of the company’s stock.

ESS Tech Stock Down 6.6 %

Shares of GWH opened at $3.05 on Tuesday. The stock has a market cap of $36.18 million, a P/E ratio of -0.47 and a beta of 1.37. ESS Tech has a 52 week low of $2.92 and a 52 week high of $14.10. The business’s 50 day moving average price is $5.00 and its 200-day moving average price is $6.01.

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.