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

ESS Tech, Inc. (NYSE:GWH) has earned a consensus recommendation of “Hold” from the five ratings firms that are presently covering the firm, MarketBeat.com reports. One research analyst has rated the stock with a sell recommendation, three have issued a hold recommendation and one has issued a buy recommendation on the company. The average 1-year price objective among brokerages that have covered the stock in the last year is $2.50.

Several analysts have recently commented on GWH shares. Roth Mkm lowered their target price on shares of ESS Tech from $3.50 to $2.50 and set a “buy” rating for the company in a report on Friday, March 6th. Weiss Ratings restated a “sell (d-)” rating on shares of ESS Tech in a report on Monday, December 29th. Finally, Wall Street Zen downgraded shares of ESS Tech from a “hold” rating to a “sell” rating in a research report on Friday, January 23rd.

Hedge Funds Weigh In On ESS Tech

Institutional investors have recently modified their holdings of the business. LPL Financial LLC purchased a new stake in ESS Tech in the fourth quarter worth $27,000. Engineers Gate Manager LP bought a new stake in shares of ESS Tech in the fourth quarter valued at $31,000. Citadel Advisors LLC purchased a new position in shares of ESS Tech during the 3rd quarter valued at $30,000. State Street Corp lifted its position in shares of ESS Tech by 188.1% during the 4th quarter. State Street Corp now owns 46,975 shares of the company’s stock valued at $88,000 after buying an additional 30,671 shares during the last quarter. Finally, Yorkville Advisors Global LP bought a new position in shares of ESS Tech during the 3rd quarter worth $74,000. 46.77% of the stock is owned by institutional investors.

ESS Tech Trading Down 5.5%

Shares of ESS Tech stock opened at $1.29 on Friday. The company has a market capitalization of $34.91 million, a P/E ratio of -0.30 and a beta of 1.46. The stock has a fifty day simple moving average of $1.57 and a 200 day simple moving average of $2.31. ESS Tech has a 12-month low of $0.76 and a 12-month high of $13.87. The company has a current ratio of 1.04, a quick ratio of 1.03 and a debt-to-equity ratio of 1.08.

ESS Tech (NYSE:GWH) last issued its quarterly earnings data on Thursday, March 5th. The company reported ($1.20) earnings per share for the quarter, missing the consensus estimate of ($0.76) by ($0.44). The company had revenue of ($1.59) million for the quarter, compared to the consensus estimate of ($1.60) million. ESS Tech had a negative net margin of 1,045.28% and a negative return on equity of 1,141.31%. On average, sell-side analysts anticipate that ESS Tech will post -6.87 earnings per share for the current fiscal year.

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.