ESS Tech, Inc. (NYSE:GWH) Receives Average Recommendation of “Moderate Buy” from Brokerages

ESS Tech, Inc. (NYSE:GWHGet Rating) has received an average rating of “Moderate Buy” from the eleven research firms that are currently covering the firm, Marketbeat reports. Three research analysts have rated the stock with a hold rating and six have assigned a buy rating to the company. The average twelve-month price objective among analysts that have issued ratings on the stock in the last year is $14.47.

GWH has been the topic of a number of analyst reports. Canaccord Genuity Group initiated coverage on ESS Tech in a research report on Wednesday, July 13th. They issued a “hold” rating and a $3.75 price target on the stock. Chardan Capital initiated coverage on ESS Tech in a research report on Wednesday, June 29th. They issued a “neutral” rating and a $3.50 price target on the stock.

Institutional Inflows and Outflows

A number of hedge funds and other institutional investors have recently made changes to their positions in GWH. Arizona State Retirement System acquired a new position in shares of ESS Tech in the 2nd quarter valued at about $41,000. Strs Ohio acquired a new position in shares of ESS Tech in the 2nd quarter valued at about $52,000. CPR Investments Inc. acquired a new position in shares of ESS Tech in the 1st quarter valued at about $58,000. Mirae Asset Global Investments Co. Ltd. acquired a new position in ESS Tech during the 2nd quarter worth approximately $65,000. Finally, Polar Capital Holdings Plc acquired a new position in ESS Tech during the 1st quarter worth approximately $66,000. 44.12% of the stock is owned by institutional investors and hedge funds.

ESS Tech Stock Performance

Shares of GWH stock opened at $3.96 on Thursday. ESS Tech has a twelve month low of $2.59 and a twelve month high of $28.92. The company has a debt-to-equity ratio of 0.01, a quick ratio of 12.04 and a current ratio of 12.04. The stock’s fifty day simple moving average is $3.46 and its 200 day simple moving average is $4.67.

ESS Tech (NYSE:GWHGet Rating) last released its quarterly earnings results on Thursday, May 12th. The company reported ($0.15) EPS for the quarter, meeting analysts’ consensus estimates of ($0.15). On average, sell-side analysts predict that ESS Tech will post -0.56 earnings per share for the current fiscal year.

ESS Tech Company Profile

(Get Rating)

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.

Further Reading

Analyst Recommendations for ESS Tech (NYSE:GWH)

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