Analysts Set ESS Tech, Inc. (NYSE:GWH) Price Target at $2.88

Shares of ESS Tech, Inc. (NYSE:GWH) have received a consensus recommendation of “Hold” from the seven analysts that are currently covering the firm, MarketBeat.com reports. One equities research analyst has rated the stock with a sell recommendation, five have issued a hold recommendation and one has assigned a buy recommendation to the company. The average 12 month target price among analysts that have issued a report on the stock in the last year is $2.8750.

GWH has been the topic of several recent analyst reports. Weiss Ratings reissued a “sell (e+)” rating on shares of ESS Tech in a research note on Wednesday, October 8th. Wall Street Zen downgraded ESS Tech from a “hold” rating to a “sell” rating in a report on Saturday, October 18th. Roth Capital set a $3.50 price objective on ESS Tech and gave the stock a “buy” rating in a research note on Friday, October 10th. Finally, Robert W. Baird lowered their target price on ESS Tech from $6.00 to $2.00 and set a “neutral” rating on the stock in a research note on Monday, August 18th.

ESS Tech Trading Down 2.9%

GWH stock opened at $4.27 on Friday. ESS Tech has a one year low of $0.76 and a one year high of $13.87. The firm has a 50-day moving average of $3.20 and a two-hundred day moving average of $2.20. The firm has a market capitalization of $62.21 million, a PE ratio of -0.68 and a beta of 1.40.

ESS Tech (NYSE:GWH) last released its earnings results on Thursday, November 13th. The company reported ($0.73) earnings per share for the quarter, topping the consensus estimate of ($0.74) by $0.01. The business had revenue of $0.21 million for the quarter, compared to the consensus estimate of $5.65 million. ESS Tech had a negative net margin of 1,217.22% and a negative return on equity of 321.20%. On average, equities research analysts anticipate that ESS Tech will post -6.87 earnings per share for the current year.

About ESS Tech

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.