ESS Tech (NYSE:GWH) Given New $2.00 Price Target at TD Cowen

ESS Tech (NYSE:GWH) had its target price trimmed by TD Cowen from $2.50 to $2.00 in a research report sent to investors on Wednesday, Benzinga reports. The brokerage currently has a buy rating on the stock.

Other analysts also recently issued reports about the company. Robert W. Baird lowered their price target on ESS Tech from $4.00 to $3.00 and set an outperform rating for the company in a report on Thursday, March 14th. Chardan Capital lowered their price target on ESS Tech from $1.90 to $0.80 and set a neutral rating for the company in a report on Friday, March 15th. Finally, Canaccord Genuity Group reduced their price target on shares of ESS Tech from $1.75 to $1.25 and set a hold rating on the stock in a research report on Thursday, March 14th.

ESS Tech Stock Up 6.1 %

Shares of GWH stock traded up $0.05 on Wednesday, reaching $0.83. 607,774 shares of the stock were exchanged, compared to its average volume of 877,477. The stock has a market cap of $145.53 million, a P/E ratio of -1.61 and a beta of 1.51. The firm has a 50 day moving average of $0.75 and a two-hundred day moving average of $0.98. ESS Tech has a 1-year low of $0.61 and a 1-year high of $2.12.

ESS Tech (NYSE:GWH) last announced its quarterly earnings results on Wednesday, March 13th. The company reported ($0.09) earnings per share (EPS) for the quarter, beating 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 firm had revenue of $2.80 million during the quarter, compared to the consensus estimate of $4.08 million. On average, equities research analysts predict that ESS Tech will post -0.41 EPS for the current fiscal year.

Hedge Funds Weigh In On ESS Tech

A number of large investors have recently bought and sold shares of GWH. SG Americas Securities LLC bought a new position in ESS Tech in the first quarter worth about $31,000. Pathstone Family Office LLC bought a new position in ESS Tech in the third quarter worth about $75,000. Cerity Partners LLC bought a new position in ESS Tech in the fourth quarter worth about $81,000. Green Alpha Advisors LLC increased its stake 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 increased its stake in shares of ESS Tech by 9.6% in the third quarter. Healthcare of Ontario Pension Plan Trust Fund now owns 132,302 shares of the company’s stock valued at $249,000 after purchasing an additional 11,616 shares during the period. Institutional investors 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.