Brokerages Set ESS Tech, Inc. (NYSE:GWH) Price Target at $2.88

ESS Tech, Inc. (NYSE:GWH) has received a consensus recommendation of “Reduce” from the nine analysts that are currently covering the company, MarketBeat.com reports. Two equities research analysts have rated the stock with a sell rating, six have assigned a hold rating and one has assigned a buy rating to the company. The average 12-month price target among analysts that have issued a report on the stock in the last year is $2.8750.

GWH has been the topic of a number of research analyst reports. Wall Street Zen upgraded ESS Tech from a “sell” rating to a “hold” rating in a research note on Friday, September 26th. Weiss Ratings reaffirmed a “sell (e+)” rating on shares of ESS Tech in a report on Wednesday, October 8th. Robert W. Baird decreased their price objective on ESS Tech from $6.00 to $2.00 and set a “neutral” rating on the stock in a report on Monday, August 18th. Finally, Roth Capital set a $3.50 price objective on ESS Tech and gave the company a “buy” rating in a report on Friday, October 10th.

ESS Tech Trading Up 15.8%

GWH opened at $5.27 on Wednesday. ESS Tech has a 1-year low of $0.76 and a 1-year high of $13.87. The stock’s fifty day simple moving average is $2.13 and its 200 day simple moving average is $1.93. The stock has a market cap of $76.73 million, a PE ratio of -0.84 and a beta of 1.23.

ESS Tech (NYSE:GWH) last posted its quarterly earnings results on Thursday, August 14th. The company reported ($0.90) earnings per share for the quarter, missing analysts’ consensus estimates of ($0.88) by ($0.02). ESS Tech had a negative net margin of 1,217.22% and a negative return on equity of 321.20%. The business had revenue of $2.36 million during the quarter, compared to the consensus estimate of $0.60 million. Equities analysts forecast that ESS Tech will post -6.87 earnings per share for the current 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.