Brokerages Set ESS Tech, Inc. (NYSE:GWH) PT at $2.83

Shares of ESS Tech, Inc. (NYSE:GWH) have been given an average rating of “Hold” by the five brokerages that are covering the stock, MarketBeat reports. One investment analyst has rated the stock with a sell recommendation, three have issued a hold recommendation and one has issued a buy recommendation on the company. The average 1-year price objective among analysts that have issued a report on the stock in the last year is $2.8333.

GWH has been the topic of a number of recent research reports. Weiss Ratings reissued a “sell (d-)” rating on shares of ESS Tech in a research report on Monday, December 29th. Wall Street Zen lowered shares of ESS Tech from a “hold” rating to a “sell” rating in a research note on Friday, January 23rd.

Institutional Investors Weigh In On ESS Tech

Several hedge funds and other institutional investors have recently bought and sold shares of GWH. XTX Topco Ltd raised its stake in ESS Tech by 137.8% in the fourth quarter. XTX Topco Ltd now owns 49,609 shares of the company’s stock valued at $93,000 after purchasing an additional 28,749 shares in the last quarter. Arosa Capital Management LP boosted its stake in shares of ESS Tech by 40.7% in the fourth quarter. Arosa Capital Management LP now owns 950,000 shares of the company’s stock worth $1,786,000 after acquiring an additional 274,583 shares during the last quarter. Alyeska Investment Group L.P. acquired a new position in ESS Tech in the 4th quarter valued at about $2,632,000. State Street Corp grew its position in ESS Tech by 188.1% in the 4th quarter. State Street Corp now owns 46,975 shares of the company’s stock valued at $88,000 after buying an additional 30,671 shares during the last quarter. Finally, Geode Capital Management LLC lifted its holdings in ESS Tech by 140.2% in the 4th quarter. Geode Capital Management LLC now owns 136,470 shares of the company’s stock worth $257,000 after buying an additional 79,657 shares in the last quarter. 46.77% of the stock is currently owned by hedge funds and other institutional investors.

ESS Tech Trading Up 3.7%

NYSE:GWH opened at $1.56 on Tuesday. The stock has a market cap of $36.36 million, a P/E ratio of -0.30 and a beta of 1.46. The stock’s 50-day moving average is $1.77 and its 200-day moving average is $2.34. ESS Tech has a 1-year low of $0.76 and a 1-year high of $13.87.

About ESS Tech

ESS Tech, Inc (NYSE: GWH) is a Portland, Oregon‐based company specializing in long‐duration iron flow battery energy storage solutions. The company’s core business centers on the design, manufacture and deployment of modular battery systems that store electricity using an iron‐chloride electrochemical process. These systems are engineered to support grid operators, utilities, commercial and industrial customers in integrating renewable power, managing peak loads and ensuring reliable back‐up power.

At the heart of ESS Tech’s offering is its “Energy Warehouse,” a containerized flow battery system featuring non‐toxic, fully recyclable materials and a simple architecture that separates energy storage capacity from power output.