ESS Tech, Inc. (NYSE:GWH) Receives $0.12 Consensus Target Price from Analysts

ESS Tech, Inc. (NYSE:GWH) has been given a consensus recommendation of “Moderate Buy” by the seven analysts that are currently covering the firm, MarketBeat.com reports. Three research analysts have rated the stock with a hold recommendation, three have given a buy recommendation and one has assigned a strong buy recommendation to the company. The average 12 month price objective among analysts that have issued a report on the stock in the last year is $0.10.

Several brokerages have recently weighed in on GWH. TD Cowen lowered their price objective on ESS Tech from $0.13 to $0.10 and set a “buy” rating for the company in a research report on Thursday, August 15th. Canaccord Genuity Group reduced their price objective on shares of ESS Tech from $0.08 to $0.07 and set a “hold” rating on the stock in a report on Friday, August 16th. Roth Capital raised shares of ESS Tech to a “strong-buy” rating in a research note on Friday, July 12th. Roth Mkm initiated coverage on shares of ESS Tech in a research note on Friday, July 12th. They issued a “buy” rating and a $0.10 price target on the stock. Finally, Deutsche Bank Aktiengesellschaft dropped their target price on shares of ESS Tech from $0.08 to $0.06 and set a “hold” rating for the company in a report on Friday, August 16th.

Insider Buying and Selling

In other news, Director Sandeep Nijhawan sold 7,000 shares of the stock in a transaction dated Wednesday, September 11th. The shares were 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 in the company, valued at $88,871.64. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available through this link. 1.80% of the stock is currently owned by company insiders.

Hedge Funds Weigh In On ESS Tech

Institutional investors and hedge funds have recently added to or reduced their stakes in the business. Paloma Partners Management Co acquired a new stake in shares of ESS Tech during the 1st quarter valued at approximately $27,000. Vanguard Personalized Indexing Management LLC purchased a new stake in ESS Tech during the second quarter worth $27,000. SG Americas Securities LLC acquired a new stake in ESS Tech in the first quarter valued at $31,000. Point72 DIFC Ltd acquired a new stake in ESS Tech in the second quarter valued at $32,000. Finally, CWM LLC acquired a new position in shares of ESS Tech during the 2nd quarter worth $34,000. Institutional investors and hedge funds own 46.77% of the company’s stock.

ESS Tech Stock Down 4.5 %

NYSE:GWH opened at $6.32 on Thursday. The stock has a market capitalization of $1.11 billion, a PE ratio of -14.04 and a beta of 1.48. The stock’s 50-day moving average price is $3.14 and its 200-day moving average price is $1.14. ESS Tech has a 52 week low of $5.20 and a 52 week high of $31.65.

ESS Tech (NYSE:GWH) last posted its quarterly earnings data on Wednesday, August 14th. The company reported ($0.12) EPS for the quarter, missing the consensus estimate of ($0.11) by ($0.01). ESS Tech had a negative return on equity of 77.52% and a negative net margin of 982.87%. The firm had revenue of $0.35 million for the quarter, compared to analysts’ expectations of $3.24 million. Sell-side analysts expect that ESS Tech will post -6.74 earnings per share for the current fiscal year.

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.