ESS Tech (NYSE:GWH - Free Report) had its price objective lowered by TD Cowen from $2.50 to $2.00 in a report published on Wednesday, Benzinga reports. TD Cowen currently has a buy rating on the stock.
Other equities research analysts have also issued reports about the stock. Canaccord Genuity Group dropped their price objective on shares of ESS Tech from $1.75 to $1.25 and set a hold rating on the stock in a report on Thursday, March 14th. Robert W. Baird decreased their price objective on ESS Tech from $4.00 to $3.00 and set an outperform rating for the company in a report on Thursday, March 14th. Finally, Chardan Capital cut their target price on ESS Tech from $1.90 to $0.80 and set a neutral rating on the stock in a research note on Friday, March 15th.
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ESS Tech Price Performance
GWH traded down $0.13 during mid-day trading on Wednesday, hitting $0.79. The stock had a trading volume of 955,759 shares, compared to its average volume of 880,499. ESS Tech has a 1-year low of $0.61 and a 1-year high of $2.12. The firm has a market capitalization of $138.00 million, a price-to-earnings ratio of -1.61 and a beta of 1.51. The stock's fifty day simple moving average is $0.75 and its 200-day simple moving average is $0.98.
ESS Tech (NYSE:GWH - Get Free Report) last announced its quarterly earnings results on Wednesday, March 13th. The company reported ($0.09) earnings per share (EPS) for the quarter, topping the consensus estimate of ($0.13) by $0.04. ESS Tech had a negative return on equity of 71.44% and a negative net margin of 1,028.89%. The company had revenue of $2.80 million during the quarter, compared to the consensus estimate of $4.08 million. As a group, research analysts expect that ESS Tech will post -0.41 earnings per share for the current fiscal year.
Institutional Investors Weigh In On ESS Tech
Several large investors have recently made changes to their positions in the stock. SG Americas Securities LLC bought a new stake in ESS Tech in the first quarter valued at approximately $31,000. Pathstone Family Office LLC bought a new position in ESS Tech during the third quarter worth $75,000. Cerity Partners LLC acquired a new position in shares of ESS Tech in the fourth quarter valued at $81,000. Green Alpha Advisors LLC raised its position in shares of ESS Tech by 11.7% in the first quarter. Green Alpha Advisors LLC now owns 219,440 shares of the company's stock valued at $159,000 after purchasing an additional 23,022 shares during the period. Finally, Healthcare of Ontario Pension Plan Trust Fund lifted its stake in shares of ESS Tech by 9.6% during the 3rd quarter. Healthcare of Ontario Pension Plan Trust Fund now owns 132,302 shares of the company's stock worth $249,000 after buying an additional 11,616 shares during the last quarter. Institutional investors and hedge funds own 46.77% of the company's stock.
ESS Tech Company Profile
(
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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.
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