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

ESS Tech, Inc. (NYSE:GWH – Get Rating) has been given a consensus recommendation of “Buy” by the ten brokerages that are currently covering the company, Marketbeat Ratings reports. Two equities research analysts have rated the stock with a hold recommendation and six have assigned a buy recommendation to the company. The average 1 year target price among analysts that have issued ratings on the stock in the last year is $17.57.

Several research firms recently commented on GWH. Deutsche Bank Aktiengesellschaft began coverage on shares of ESS Tech in a research note on Wednesday, March 30th. They set a “hold” rating and a $7.00 price objective on the stock. Guggenheim assumed coverage on shares of ESS Tech in a report on Tuesday, March 22nd. They issued a “buy” rating and a $10.00 target price for the company. Robert W. Baird decreased their target price on shares of ESS Tech from $15.00 to $9.00 in a report on Friday, February 25th. Canaccord Genuity Group decreased their target price on shares of ESS Tech from $18.50 to $10.00 in a report on Monday, February 28th. Finally, Zacks Investment Research raised shares of ESS Tech from a “sell” rating to a “hold” rating in a report on Tuesday, April 19th.

In related news, Director Michael R. Niggli acquired 20,000 shares of the firm’s stock in a transaction dated Tuesday, March 1st. The stock was purchased at an average cost of $5.01 per share, with a total value of $100,200.00. The acquisition was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through this hyperlink.

Several institutional investors and hedge funds have recently added to or reduced their stakes in GWH. Wells Fargo & Company MN purchased a new stake in ESS Tech during the fourth quarter valued at approximately $56,000. Van ECK Associates Corp purchased a new stake in ESS Tech during the fourth quarter valued at approximately $89,000. Penserra Capital Management LLC purchased a new stake in ESS Tech during the fourth quarter valued at approximately $102,000. Advisor Group Holdings Inc. purchased a new stake in ESS Tech during the fourth quarter valued at approximately $107,000. Finally, Renaissance Technologies LLC purchased a new stake in ESS Tech during the fourth quarter valued at approximately $118,000. 42.63% of the stock is owned by hedge funds and other institutional investors.

NYSE:GWH opened at $5.73 on Tuesday. ESS Tech has a one year low of $3.65 and a one year high of $28.92. The company has a debt-to-equity ratio of 0.01, a quick ratio of 18.02 and a current ratio of 18.02. The business’s 50-day simple moving average is $5.22.

ESS Tech (NYSE:GWH – Get Rating) last posted its quarterly earnings data on Thursday, February 24th. The company reported ($0.23) EPS for the quarter, missing the consensus estimate of ($0.06) by ($0.17). Research analysts anticipate that ESS Tech will post -0.65 EPS for the current fiscal year.

About ESS Tech (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 provides energy storage products, which include Energy Warehouse, a behind-the-meter solution; and Energy Center, a front-of-the-meter solution.

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