ESS Tech, Inc. (NYSE:GWH) Receives Consensus Recommendation of “Hold” from Brokerages

ESS Tech, Inc. (NYSE:GWH) has earned a consensus recommendation of “Hold” from the seven brokerages that are currently covering the company, MarketBeat Ratings reports. One equities research analyst has rated the stock with a sell rating, five have issued a hold rating and one has issued a buy rating on the company. The average 1 year price target among brokerages that have issued ratings on the stock in the last year is $2.8750.

A number of research analysts have issued reports on the company. Wall Street Zen cut ESS Tech from a “hold” rating to a “sell” rating in a report on Sunday, December 14th. Roth Capital set a $3.50 target price on shares of ESS Tech and gave the stock a “buy” rating in a research report on Friday, October 10th. Finally, Weiss Ratings restated a “sell (d-)” rating on shares of ESS Tech in a research report on Monday, December 22nd.

ESS Tech Trading Down 4.4%

GWH stock opened at $1.85 on Monday. ESS Tech has a 1-year low of $0.76 and a 1-year high of $13.87. The business’s 50 day moving average is $3.09 and its 200-day moving average is $2.29. The firm has a market cap of $36.38 million, a P/E ratio of -0.36 and a beta of 1.43.

ESS Tech (NYSE:GWH) last posted its earnings results on Thursday, November 13th. The company reported ($0.73) EPS for the quarter, topping the consensus estimate of ($0.76) by $0.03. ESS Tech had a negative return on equity of 592.34% and a negative net margin of 1,045.28%.The business had revenue of $0.21 million during the quarter, compared to the consensus estimate of $5.65 million. Sell-side analysts forecast that ESS Tech will post -6.87 EPS for the current year.

Institutional Investors Weigh In On ESS Tech

An institutional investor recently bought a new position in ESS Tech stock. Yorkville Advisors Global LP purchased a new stake in shares of ESS Tech, Inc. (NYSE:GWH) in the third quarter, according to its most recent disclosure with the Securities and Exchange Commission. The firm purchased 48,374 shares of the company’s stock, valued at approximately $74,000. ESS Tech makes up about 0.0% of Yorkville Advisors Global LP’s investment portfolio, making the stock its 28th largest position. Yorkville Advisors Global LP owned 0.33% of ESS Tech as of its most recent SEC filing. 46.77% of the stock is owned by hedge funds and other institutional investors.

About ESS Tech

ESS Tech, Inc (NYSE: GWH) is a Portland, Oregon‐based company specializing in long‐duration iron flow battery energy storage solutions. The company’s core business centers on the design, manufacture and deployment of modular battery systems that store electricity using an iron‐chloride electrochemical process. These systems are engineered to support grid operators, utilities, commercial and industrial customers in integrating renewable power, managing peak loads and ensuring reliable back‐up power.

At the heart of ESS Tech’s offering is its “Energy Warehouse,” a containerized flow battery system featuring non‐toxic, fully recyclable materials and a simple architecture that separates energy storage capacity from power output.