ESS Tech (NYSE:GWH) Sets New 12-Month Low at $6.62

ESS Tech, Inc. (NYSE:GWH)’s share price reached a new 52-week low during trading on Wednesday . The stock traded as low as $6.62 and last traded at $6.86, with a volume of 63077 shares changing hands. The stock had previously closed at $7.23.

Analysts Set New Price Targets

GWH has been the topic of a number of recent research reports. Roth Mkm initiated coverage on shares of ESS Tech in a report on Friday, July 12th. They issued a “buy” rating and a $1.50 target price on the stock. Deutsche Bank Aktiengesellschaft lowered their price objective on ESS Tech from $1.15 to $0.90 and set a “hold” rating for the company in a research note on Friday, August 16th. Canaccord Genuity Group cut their target price on ESS Tech from $1.25 to $1.00 and set a “hold” rating on the stock in a research note on Friday, August 16th. Roth Capital raised shares of ESS Tech to a “strong-buy” rating in a report on Friday, July 12th. Finally, TD Cowen reduced their target price on shares of ESS Tech from $2.00 to $1.50 and set a “buy” rating for the company in a research note on Thursday, August 15th. Three investment analysts have rated the stock with a hold rating, three have issued a buy rating and one has given a strong buy rating to the stock. Based on data from MarketBeat.com, the company has a consensus rating of “Moderate Buy” and a consensus target price of $1.74.

ESS Tech Price Performance

The firm has a market cap of $1.08 billion, a price-to-earnings ratio of -15.24 and a beta of 1.52. The firm’s fifty day moving average is $1.02 and its two-hundred day moving average is $0.86.

Institutional Trading of ESS Tech

Institutional investors have recently modified their holdings of the company. Green Alpha Advisors LLC grew its stake in shares of ESS Tech by 11.7% in the 1st quarter. Green Alpha Advisors LLC now owns 219,440 shares of the company’s stock valued at $159,000 after buying an additional 23,022 shares in the last quarter. Vanguard Personalized Indexing Management LLC acquired a new stake in shares of ESS Tech in the second quarter worth $27,000. Paloma Partners Management Co bought a new position in shares of ESS Tech during the 1st quarter worth about $27,000. Point72 DIFC Ltd bought a new stake in shares of ESS Tech in the 2nd quarter worth approximately $32,000. Finally, CWM LLC bought a new stake in ESS Tech in the 2nd quarter valued at $34,000. Institutional investors and hedge funds own 46.77% of the company’s stock.

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.