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

ESS Tech, Inc. (NYSE:GWH) has been assigned a consensus rating of “Hold” from the five brokerages that are covering the stock, Marketbeat.com 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 target price among brokers that have covered the stock in the last year is $2.8333.

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

Institutional Trading of ESS Tech

Several hedge funds have recently modified their holdings of GWH. LPL Financial LLC bought a new stake in ESS Tech during the 4th quarter worth approximately $27,000. Engineers Gate Manager LP bought a new stake in shares of ESS Tech during the fourth quarter worth $31,000. Citadel Advisors LLC acquired a new stake in shares of ESS Tech in the third quarter valued at $30,000. XTX Topco Ltd raised its holdings in shares of 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 buying an additional 28,749 shares during the last quarter. Finally, State Street Corp lifted its position in ESS Tech by 188.1% during the 4th quarter. State Street Corp now owns 46,975 shares of the company’s stock worth $88,000 after buying an additional 30,671 shares in the last quarter. Institutional investors and hedge funds own 46.77% of the company’s stock.

ESS Tech Trading Down 6.2%

GWH stock opened at $1.45 on Tuesday. ESS Tech has a 1-year low of $0.76 and a 1-year high of $13.87. The business’s 50 day moving average is $1.75 and its 200-day moving average is $2.34. The firm has a market cap of $33.78 million, a P/E ratio of -0.28 and a beta of 1.46.

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.