ESS Tech (NYSE:GWH – Get Rating) had its price objective decreased by research analysts at Deutsche Bank Aktiengesellschaft from $6.00 to $2.00 in a research report issued on Friday, The Fly reports. Deutsche Bank Aktiengesellschaft’s price target indicates a potential upside of 81.82% from the company’s current price.
Other equities research analysts have also recently issued reports about the company. Chardan Capital cut their target price on ESS Tech from $4.50 to $1.80 and set a “neutral” rating on the stock in a research note on Friday, March 3rd. EF Hutton Acquisition Co. I cut their target price on ESS Tech from $6.00 to $4.00 and set a “buy” rating on the stock in a research note on Thursday, March 2nd. Finally, TD Cowen cut their target price on ESS Tech from $7.00 to $4.50 and set an “outperform” rating on the stock in a research note on Thursday, March 2nd. Three investment analysts have rated the stock with a hold rating and three have issued a buy rating to the stock. According to data from MarketBeat, ESS Tech currently has a consensus rating of “Moderate Buy” and a consensus target price of $4.34.
ESS Tech Trading Down 9.1 %
GWH opened at $1.10 on Friday. The stock has a fifty day simple moving average of $2.11 and a two-hundred day simple moving average of $3.11. ESS Tech has a 12-month low of $1.02 and a 12-month high of $6.28.
Insider Activity at ESS Tech
In other ESS Tech news, Director Michael R. Niggli acquired 19,100 shares of the company’s stock in a transaction that occurred on Thursday, December 15th. The shares were bought at an average cost of $2.56 per share, with a total value of $48,896.00. Following the completion of the transaction, the director now directly owns 578,821 shares of the company’s stock, valued at approximately $1,481,781.76. The purchase was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through the SEC website. 6.80% of the stock is currently owned by insiders.
Institutional Investors Weigh In On ESS Tech
Several institutional investors have recently modified their holdings of the business. JPMorgan Chase & Co. boosted its position in ESS Tech by 10.7% in the first quarter. JPMorgan Chase & Co. now owns 36,076 shares of the company’s stock worth $201,000 after purchasing an additional 3,473 shares during the last quarter. Citigroup Inc. purchased a new position in ESS Tech in the first quarter worth about $72,000. Healthcare of Ontario Pension Plan Trust Fund purchased a new position in ESS Tech in the first quarter worth about $683,000. BlackRock Inc. boosted its position in ESS Tech by 2.7% in the first quarter. BlackRock Inc. now owns 700,191 shares of the company’s stock worth $3,900,000 after purchasing an additional 18,232 shares during the last quarter. Finally, Vanguard Group Inc. boosted its position in ESS Tech by 94.8% in the first quarter. Vanguard Group Inc. now owns 1,764,573 shares of the company’s stock worth $9,829,000 after purchasing an additional 858,910 shares during the last quarter. 40.84% of the stock is owned by hedge funds and other institutional investors.
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.
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