ESS Tech, Inc. (NYSE:GWH) Receives Average Rating of “Hold” from Brokerages

Shares of ESS Tech, Inc. (NYSE:GWH) have been assigned a consensus recommendation of “Hold” from the five research firms that are covering the company, MarketBeat.com reports. One equities research analyst has rated the stock with a sell rating, three have assigned a hold rating and one has given a buy rating to the company. The average twelve-month price target among analysts that have covered the stock in the last year is $2.8333.

Several brokerages have weighed in on GWH. Wall Street Zen downgraded ESS Tech from a “hold” rating to a “sell” rating in a research note on Friday, January 23rd. Weiss Ratings restated a “sell (d-)” rating on shares of ESS Tech in a research note on Monday, December 29th.

Institutional Investors Weigh In On ESS Tech

Hedge funds and other institutional investors have recently added to or reduced their stakes in the company. Alyeska Investment Group L.P. bought a new position in ESS Tech during the 4th quarter valued at $2,632,000. State Street Corp lifted its holdings in shares of ESS Tech by 188.1% in the fourth 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 period. LPL Financial LLC bought a new position in ESS Tech during the fourth quarter valued at about $27,000. Geode Capital Management LLC grew its holdings in ESS Tech by 140.2% during the fourth quarter. Geode Capital Management LLC now owns 136,470 shares of the company’s stock worth $257,000 after acquiring an additional 79,657 shares during the period. Finally, Green Alpha Advisors LLC raised its position in ESS Tech by 1,016.7% in the fourth quarter. Green Alpha Advisors LLC now owns 118,683 shares of the company’s stock worth $223,000 after acquiring an additional 108,055 shares in the last quarter. Institutional investors own 46.77% of the company’s stock.

ESS Tech Trading Up 0.7%

Shares of NYSE:GWH opened at $1.43 on Tuesday. The firm’s 50 day moving average is $1.82 and its two-hundred day moving average is $2.35. The firm has a market capitalization of $33.43 million, a P/E ratio of -0.28 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 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.