ESS Tech (NYSE:GWH) Downgraded to “Sell” Rating by Wall Street Zen

ESS Tech (NYSE:GWH) was downgraded by investment analysts at Wall Street Zen from a “hold” rating to a “sell” rating in a research report issued on Friday.

A number of other research firms have also recently weighed in on GWH. Roth Mkm set a $3.50 target price on shares of ESS Tech and gave the company a “buy” rating in a research note on Friday, October 10th. Weiss Ratings reiterated a “sell (d-)” rating on shares of ESS Tech in a research note on Monday, December 29th. One equities research analyst has rated the stock with a Buy rating, three have assigned a Hold rating and one has given a Sell rating to the company’s stock. Based on data from MarketBeat, the company currently has an average rating of “Hold” and a consensus price target of $2.83.

ESS Tech Stock Down 6.5%

Shares of NYSE:GWH opened at $1.79 on Friday. ESS Tech has a twelve month low of $0.76 and a twelve month high of $13.87. The stock’s 50 day moving average is $2.10 and its 200-day moving average is $2.36. The firm has a market capitalization of $35.02 million, a price-to-earnings ratio of -0.35 and a beta of 1.46.

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

Institutional Inflows and Outflows

Several large investors have recently modified their holdings of the stock. Green Alpha Advisors LLC raised its holdings in ESS Tech by 1,016.7% in the fourth quarter. Green Alpha Advisors LLC now owns 118,683 shares of the company’s stock worth $223,000 after buying an additional 108,055 shares during the last quarter. Yorkville Advisors Global LP bought a new stake in shares of ESS Tech during the third quarter valued at approximately $74,000. Finally, Citadel Advisors LLC purchased a new position in ESS Tech in the 3rd quarter worth approximately $30,000. Hedge funds and other institutional investors own 46.77% of the company’s stock.

ESS Tech Company Profile

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.