Several brokerages have updated their recommendations and price targets on shares of ESS Tech (NYSE: GWH) in the last few weeks:
- 3/10/2023 – ESS Tech had its price target lowered by analysts at Deutsche Bank Aktiengesellschaft from $6.00 to $2.00.
- 3/3/2023 – ESS Tech had its price target lowered by analysts at Chardan Capital from $4.50 to $1.80. They now have a “neutral” rating on the stock.
- 3/2/2023 – ESS Tech had its price target lowered by analysts at TD Cowen from $7.00 to $4.50. They now have an “outperform” rating on the stock.
- 3/2/2023 – ESS Tech had its price target lowered by analysts at EF Hutton Acquisition Co. I from $6.00 to $4.00. They now have a “buy” rating on the stock.
ESS Tech Stock Down 6.1 %
Shares of ESS Tech stock opened at $1.08 on Wednesday. The firm has a market capitalization of $166.65 million, a P/E ratio of -2.12 and a beta of 1.95. The company has a 50 day moving average price of $2.06 and a 200 day moving average price of $3.06. ESS Tech, Inc. has a 52 week low of $1.02 and a 52 week high of $6.28.
ESS Tech (NYSE:GWH – Get Rating) last issued its quarterly earnings data on Wednesday, March 1st. The company reported ($0.16) EPS for the quarter, topping analysts’ consensus estimates of ($0.18) by $0.02. The firm had revenue of $0.02 million for the quarter, compared to analyst estimates of $1.78 million. As a group, research analysts anticipate that ESS Tech, Inc. will post -0.88 earnings per share for the current fiscal year.
Insider Transactions at ESS Tech
Hedge Funds Weigh In On ESS Tech
Institutional investors and hedge funds have recently added to or reduced their stakes in the business. JPMorgan Chase & Co. grew its holdings in ESS Tech by 10.7% during the first quarter. JPMorgan Chase & Co. now owns 36,076 shares of the company’s stock worth $201,000 after acquiring an additional 3,473 shares during the period. Citigroup Inc. purchased a new stake in shares of ESS Tech during the 1st quarter valued at about $72,000. Healthcare of Ontario Pension Plan Trust Fund acquired a new stake in ESS Tech during the 1st quarter valued at approximately $683,000. BlackRock Inc. grew its position in shares of ESS Tech by 2.7% in the 1st quarter. BlackRock Inc. now owns 700,191 shares of the company’s stock worth $3,900,000 after acquiring an additional 18,232 shares in the last quarter. Finally, Vanguard Group Inc. lifted its holdings in shares of ESS Tech by 94.8% in the 1st quarter. Vanguard Group Inc. now owns 1,764,573 shares of the company’s stock worth $9,829,000 after purchasing an additional 858,910 shares during the last quarter. 40.84% of the stock is owned by institutional investors and hedge funds.
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.
- Get a free copy of the StockNews.com research report on ESS Tech (GWH)
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