ESS Tech (NYSE:GWH) Stock Price Up 4.4% – Time to Buy?

Shares of ESS Tech, Inc. (NYSE:GWH) traded up 4.4% during trading on Thursday . The stock traded as high as $3.48 and last traded at $3.46. 58,823 shares were traded during trading, a decline of 21% from the average session volume of 74,307 shares. The stock had previously closed at $3.31.

Analysts Set New Price Targets

Several research analysts have weighed in on the stock. Roth Capital cut shares of ESS Tech from a “strong-buy” rating to a “hold” rating in a report on Tuesday, March 4th. Roth Mkm lowered ESS Tech from a “buy” rating to a “neutral” rating and lowered their target price for the stock from $17.00 to $3.00 in a research note on Tuesday, March 4th. Two equities research analysts have rated the stock with a sell rating, five have issued a hold rating and one has assigned a buy rating to the stock. According to data from MarketBeat, the company presently has an average rating of “Hold” and an average target price of $11.20.

ESS Tech Price Performance

The stock has a 50-day moving average of $4.33 and a 200-day moving average of $5.68. The firm has a market cap of $39.99 million, a price-to-earnings ratio of -0.51 and a beta of 1.37.

Institutional Inflows and Outflows

A hedge fund recently raised its stake in ESS Tech stock. Baird Financial Group Inc. raised its holdings in ESS Tech, Inc. (NYSE:GWH) by 78.5% during the fourth quarter, according to the company in its most recent 13F filing with the SEC. The institutional investor owned 405,938 shares of the company’s stock after purchasing an additional 178,532 shares during the quarter. Baird Financial Group Inc. owned 3.42% of ESS Tech worth $2,387,000 as of its most recent SEC filing. 46.77% of the stock is owned by institutional investors.

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.