ESS Tech, Inc. (NYSE:GWH) Receives $2.88 Consensus Price Target from Analysts

Shares of ESS Tech, Inc. (NYSE:GWH) have been given a consensus recommendation of “Hold” by the seven brokerages that are covering the stock, Marketbeat Ratings reports. One analyst has rated the stock with a sell recommendation, five have given a hold recommendation and one has issued a buy recommendation on the company. The average 1-year price target among brokerages that have issued ratings on the stock in the last year is $2.8750.

GWH has been the topic of several analyst reports. Roth Capital set a $3.50 price target on ESS Tech and gave the company a “buy” rating in a report on Friday, October 10th. Robert W. Baird cut their price objective on ESS Tech from $6.00 to $2.00 and set a “neutral” rating for the company in a research report on Monday, August 18th. Weiss Ratings reiterated a “sell (d-)” rating on shares of ESS Tech in a research report on Monday, December 1st. Finally, Wall Street Zen raised ESS Tech from a “sell” rating to a “hold” rating in a research note on Saturday.

Institutional Trading of ESS Tech

A hedge fund recently bought a new position in ESS Tech stock. Yorkville Advisors Global LP purchased a new position in shares of ESS Tech, Inc. (NYSE:GWH) in the third quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission. The fund purchased 48,374 shares of the company’s stock, valued at approximately $74,000. ESS Tech accounts for about 0.0% of Yorkville Advisors Global LP’s portfolio, making the stock its 28th biggest holding. Yorkville Advisors Global LP owned about 0.33% of ESS Tech at the end of the most recent reporting period. Institutional investors and hedge funds own 46.77% of the company’s stock.

ESS Tech Stock Performance

GWH stock opened at $2.17 on Thursday. The business’s 50-day moving average is $3.52 and its two-hundred day moving average is $2.22. The company has a market cap of $42.48 million, a price-to-earnings ratio of -0.42 and a beta of 1.43. ESS Tech has a fifty-two week low of $0.76 and a fifty-two week high of $13.87.

ESS Tech (NYSE:GWH) last released its quarterly earnings results on Thursday, November 13th. The company reported ($0.73) earnings per share for the quarter, beating analysts’ consensus estimates of ($0.76) by $0.03. The business had revenue of $0.21 million for the quarter, compared to analysts’ expectations of $5.65 million. ESS Tech had a negative net margin of 1,045.28% and a negative return on equity of 592.34%. Equities analysts predict that ESS Tech will post -6.87 earnings per share 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.