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

ESS Tech, Inc. (NYSE:GWH) has earned an average rating of “Reduce” from the nine brokerages that are currently covering the company, MarketBeat.com reports. Two equities research analysts have rated the stock with a sell recommendation, six have issued a hold recommendation and one has given a buy recommendation to the company. The average twelve-month price objective among brokerages that have updated their coverage on the stock in the last year is $2.8750.

A number of equities research analysts recently commented on the company. Weiss Ratings reiterated a “sell (e+)” rating on shares of ESS Tech in a report on Wednesday, October 8th. Roth Capital set a $3.50 target price on shares of ESS Tech and gave the company a “buy” rating in a research note on Friday, October 10th. Wall Street Zen cut ESS Tech from a “hold” rating to a “sell” rating in a research note on Saturday, October 18th. Finally, Robert W. Baird reduced their target price on shares of ESS Tech from $6.00 to $2.00 and set a “neutral” rating for the company in a research note on Monday, August 18th.

ESS Tech Price Performance

GWH opened at $4.27 on Friday. The firm has a 50 day simple moving average of $3.08 and a 200 day simple moving average of $2.17. ESS Tech has a fifty-two week low of $0.76 and a fifty-two week high of $13.87. The company has a market cap of $62.17 million, a price-to-earnings ratio of -0.68 and a beta of 1.40.

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

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.