Analysts Set ESS Tech, Inc. (NYSE:GWH) Price Target at $2.83

Shares of ESS Tech, Inc. (NYSE:GWH) have received a consensus recommendation of “Hold” from the five brokerages that are presently covering the firm, MarketBeat Ratings reports. One investment analyst has rated the stock with a sell recommendation, three have assigned a hold recommendation and one has given a buy recommendation to the company. The average 12-month price objective among brokerages that have covered the stock in the last year is $2.8333.

Several analysts have commented on GWH shares. Wall Street Zen cut shares of ESS Tech from a “hold” rating to a “sell” rating in a research note on Friday, January 23rd. Weiss Ratings reaffirmed a “sell (d-)” rating on shares of ESS Tech in a report on Monday, December 29th. Finally, Roth Mkm set a $3.50 price target on ESS Tech and gave the company a “buy” rating in a research note on Friday, October 10th.

Institutional Investors Weigh In On ESS Tech

Several large investors have recently bought and sold shares of the business. Citadel Advisors LLC bought a new position in ESS Tech during the third quarter valued at $30,000. Yorkville Advisors Global LP purchased a new stake in shares of ESS Tech during the 3rd quarter valued at about $74,000. Finally, Green Alpha Advisors LLC raised its position in shares of ESS Tech by 1,016.7% during the 4th quarter. Green Alpha Advisors LLC now owns 118,683 shares of the company’s stock valued at $223,000 after buying an additional 108,055 shares in the last quarter. Institutional investors own 46.77% of the company’s stock.

ESS Tech Stock Performance

Shares of GWH stock opened at $1.72 on Friday. The stock has a fifty day simple moving average of $2.03 and a two-hundred day simple moving average of $2.36. The firm has a market capitalization of $33.65 million, a PE ratio of -0.34 and a beta of 1.46. ESS Tech has a 52-week low of $0.76 and a 52-week high of $13.87.

ESS Tech (NYSE:GWH) last announced its quarterly earnings data on Thursday, November 13th. The company reported ($0.73) earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of ($0.76) by $0.03. ESS Tech had a negative net margin of 1,045.28% and a negative return on equity of 592.34%. The business had revenue of $0.21 million during the quarter, compared to analyst estimates of $5.65 million. On average, sell-side analysts forecast that ESS Tech will post -6.87 EPS for the current fiscal year.

ESS Tech Company Profile

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.