ESS Tech (NYSE:GWH) Stock Rating Lowered by Wall Street Zen

ESS Tech (NYSE:GWH) was downgraded by equities research analysts at Wall Street Zen from a “hold” rating to a “sell” rating in a research note issued to investors on Sunday.

GWH has been the subject of a number of other reports. Robert W. Baird lowered their price target on ESS Tech from $6.00 to $2.00 and set a “neutral” rating for the company in a research report on Monday, August 18th. Weiss Ratings reiterated a “sell (d-)” rating on shares of ESS Tech in a report on Monday, December 8th. Finally, Roth Capital set a $3.50 price target on shares of ESS Tech and gave the company a “buy” rating in a research report on Friday, October 10th. One equities research analyst has rated the stock with a Buy rating, five have assigned a Hold rating and one has given a Sell rating to the company. Based on data from MarketBeat, ESS Tech currently has a consensus rating of “Hold” and an average price target of $2.88.

ESS Tech Price Performance

GWH opened at $1.97 on Friday. ESS Tech has a fifty-two week low of $0.76 and a fifty-two week high of $13.87. The firm has a market capitalization of $38.55 million, a PE ratio of -0.39 and a beta of 1.43. The company’s 50-day moving average is $3.58 and its 200 day moving average is $2.25.

ESS Tech (NYSE:GWH) last issued its quarterly earnings data on Thursday, November 13th. The company reported ($0.73) EPS for the quarter, topping analysts’ consensus estimates of ($0.76) by $0.03. ESS Tech had a negative return on equity of 592.34% and a negative net margin of 1,045.28%.The firm had revenue of $0.21 million during the quarter, compared to analyst estimates of $5.65 million. As a group, analysts expect that ESS Tech will post -6.87 EPS for the current year.

Institutional Investors Weigh In On ESS Tech

An institutional investor recently bought a new position in ESS Tech stock. Yorkville Advisors Global LP bought a new position in shares of ESS Tech, Inc. (NYSE:GWH) in the third quarter, according to the company in its most recent filing with the Securities & Exchange Commission. The firm bought 48,374 shares of the company’s stock, valued at approximately $74,000. ESS Tech accounts for 0.0% of Yorkville Advisors Global LP’s investment portfolio, making the stock its 28th biggest position. Yorkville Advisors Global LP owned about 0.33% of ESS Tech at the end of the most recent reporting period. Institutional investors and hedge funds own 46.77% of the company’s stock.

ESS Tech Company Profile

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.