ESS Tech (NYSE:GWH) Cut to Sell at Wall Street Zen

Wall Street Zen cut shares of ESS Tech (NYSE:GWH) from a hold rating to a sell rating in a research report report published on Sunday.

A number of other research firms have also weighed in on GWH. Weiss Ratings reissued a “sell (d-)” rating on shares of ESS Tech in a research note on Monday, December 8th. Robert W. Baird lowered their price objective 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. Finally, Roth Capital set a $3.50 target price on shares of ESS Tech and gave the stock a “buy” rating in a report on Friday, October 10th. One research analyst has rated the stock with a Buy rating, five have given a Hold rating and one has issued a Sell rating to the company’s stock. Based on data from MarketBeat.com, ESS Tech has a consensus rating of “Hold” and an average target price of $2.88.

ESS Tech Price Performance

Shares of NYSE GWH opened at $1.99 on Friday. The stock has a market capitalization of $38.95 million, a P/E ratio of -0.39 and a beta of 1.43. ESS Tech has a one year low of $0.76 and a one year high of $13.87. The firm’s 50 day simple moving average is $3.58 and its two-hundred day simple moving average is $2.25.

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

Institutional Inflows and Outflows

An institutional investor recently bought a new position in ESS Tech stock. Citadel Advisors LLC acquired a new stake in shares of ESS Tech, Inc. (NYSE:GWH) in the third quarter, according to its most recent 13F filing with the Securities and Exchange Commission. The firm acquired 19,773 shares of the company’s stock, valued at approximately $30,000. Citadel Advisors LLC owned approximately 0.14% of ESS Tech as of its most recent filing with the Securities and Exchange Commission. 46.77% of the stock is owned by hedge funds and other 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.