Posted by admin on May 21st, 2022
ESS Tech, Inc. (NYSE:GWH – Get Rating) has received an average rating of “Buy” from the ten brokerages that are covering the stock, MarketBeat Ratings reports. One research analyst has rated the stock with a sell recommendation, one has assigned a hold recommendation and six have given a buy recommendation to the company. The average twelve-month target price among brokerages that have updated their coverage on the stock in the last year is $17.57.
A number of equities analysts have recently commented on GWH shares. Zacks Investment Research downgraded ESS Tech from a “hold” rating to a “sell” rating in a report on Tuesday. Guggenheim started coverage on ESS Tech in a report on Tuesday, March 22nd. They issued a “buy” rating and a $10.00 price objective on the stock. Robert W. Baird cut their price objective on ESS Tech from $15.00 to $9.00 in a report on Friday, February 25th. Canaccord Genuity Group lowered their target price on ESS Tech from $18.50 to $10.00 in a research note on Monday, February 28th. Finally, Deutsche Bank Aktiengesellschaft started coverage on ESS Tech in a research note on Wednesday, March 30th. They issued a “hold” rating and a $7.00 target price for the company.
ESS Tech stock opened at $5.19 on Friday. The stock’s 50-day moving average is $5.40 and its 200-day moving average is $8.41. The company has a debt-to-equity ratio of 0.01, a quick ratio of 18.02 and a current ratio of 12.04. ESS Tech has a 12 month low of $3.58 and a 12 month high of $28.92.
ESS Tech (NYSE:GWH – Get Rating) last released its quarterly earnings data on Thursday, February 24th. The company reported ($0.23) EPS for the quarter, missing analysts’ consensus estimates of ($0.06) by ($0.17). Sell-side analysts expect that ESS Tech will post -0.54 EPS for the current year.
In other ESS Tech news, Director Michael R. Niggli acquired 20,000 shares of the stock in a transaction on Tuesday, March 1st. The stock was purchased at an average price of $5.01 per share, for a total transaction of $100,200.00. The acquisition was disclosed in a document filed with the SEC, which can be accessed through this link.
Institutional investors and hedge funds have recently modified their holdings of the company. Redmond Asset Management LLC acquired a new position in shares of ESS Tech in the 4th quarter worth approximately $1,084,000. Qube Research & Technologies Ltd acquired a new position in shares of ESS Tech in the 4th quarter worth approximately $479,000. Greenhouse Wealth Management LLC bought a new stake in shares of ESS Tech in the 4th quarter worth approximately $127,000. Van ECK Associates Corp bought a new stake in shares of ESS Tech in the 4th quarter worth approximately $89,000. Finally, Marshall Wace LLP bought a new stake in shares of ESS Tech in the 3rd quarter worth approximately $8,778,000. Institutional investors own 44.12% of the company’s stock.
ESS Tech Company Profile (Get Rating)
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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