ESS Tech (GWH) – Investment Analysts’ Recent Ratings Changes

ESS Tech (NYSE: GWH) has recently received a number of price target changes and ratings updates:

• 11/14/2024 – ESS Tech was downgraded by analysts at Robert W. Baird from a “neutral” rating to an “underperform” rating. They now have a $9.00 price target on the stock, down previously from $14.00.
• 11/14/2024 – ESS Tech was downgraded by analysts at Baird R W from a “strong-buy” rating to a “strong sell” rating.
• 11/14/2024 – ESS Tech was downgraded by analysts at Oppenheimer Holdings Inc. from an “outperform” rating to a “market perform” rating.
• 11/14/2024 – ESS Tech had its “hold” rating reaffirmed by analysts at Canaccord Genuity Group Inc.. They now have a $8.00 price target on the stock.

ESS Tech Price Performance

ESS Tech stock traded up $0.12 during midday trading on Tuesday, hitting $5.97. The company’s stock had a trading volume of 78,787 shares, compared to its average volume of 71,026. The company has a market cap of $70.92 million, a price-to-earnings ratio of -0.91 and a beta of 1.41. The company has a 50-day moving average price of $7.11 and a two-hundred day moving average price of $9.23. ESS Tech, Inc. has a 1-year low of $4.68 and a 1-year high of $20.10.

Insiders Place Their Bets

In other news, Director Sandeep Nijhawan sold 7,000 shares of ESS Tech stock in a transaction on Wednesday, September 11th. The shares were sold at an average price of $5.72, for a total transaction of $40,040.00. Following the transaction, the director now owns 15,537 shares in the company, valued at approximately $88,871.64. The trade was a 31.06 % decrease in their ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through the SEC website. Corporate insiders own 2.30% of the company’s stock.

Institutional Investors Weigh In On ESS Tech

Several institutional investors and hedge funds have recently made changes to their positions in GWH. Vanguard Group Inc. boosted its holdings in ESS Tech by 6.9% during the 1st quarter. Vanguard Group Inc. now owns 3,263,849 shares of the company’s stock worth $2,361,000 after acquiring an additional 212,070 shares during the last quarter. Point72 Asia Singapore Pte. Ltd. purchased a new stake in shares of ESS Tech during the 2nd quarter valued at approximately $148,000. SG Americas Securities LLC bought a new position in shares of ESS Tech in the first quarter worth $31,000. CWM LLC purchased a new position in ESS Tech during the 2nd quarter valued at about $34,000. Finally, Point72 DIFC Ltd purchased a new position in ESS Tech during the second quarter valued at approximately $32,000. Institutional investors own 46.77% of the company’s stock.

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.