ESS Tech (NYSE:GWH) Price Target Cut to $3.00

ESS Tech (NYSE:GWH) had its price objective decreased by Robert W. Baird from $4.00 to $3.00 in a research note published on Thursday morning, Benzinga reports. Robert W. Baird currently has an outperform rating on the stock.

Separately, Chardan Capital reduced their price objective on ESS Tech from $1.90 to $0.80 and set a neutral rating for the company in a report on Friday.

ESS Tech Stock Down 5.3 %

Shares of NYSE:GWH traded down $0.04 on Thursday, hitting $0.66. 1,425,292 shares of the company traded hands, compared to its average volume of 892,858. ESS Tech has a 52 week low of $0.66 and a 52 week high of $2.12. The stock has a 50 day simple moving average of $0.93 and a 200-day simple moving average of $1.22. The company has a market cap of $114.19 million, a PE ratio of -1.35 and a beta of 1.64.

Institutional Investors Weigh In On ESS Tech

A number of large investors have recently made changes to their positions in GWH. CI Private Wealth LLC purchased a new position in shares of ESS Tech during the 4th quarter valued at about $27,000. Smith Anglin Financial LLC purchased a new position in ESS Tech in the 3rd quarter worth approximately $27,000. Sei Investments Co. purchased a new position in ESS Tech in the 2nd quarter worth approximately $32,000. Principal Financial Group Inc. purchased a new position in ESS Tech in the 2nd quarter worth approximately $33,000. Finally, Cetera Advisor Networks LLC purchased a new position in ESS Tech in the 2nd quarter worth approximately $33,000. 44.21% of the stock is currently 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.