ESS Tech, Inc. (NYSE:GWH) Given Average Rating of “Hold” by Analysts

Shares of ESS Tech, Inc. (NYSE:GWH) have been assigned a consensus recommendation of “Hold” from the five ratings firms that are covering the company, MarketBeat Ratings reports. One investment analyst has rated the stock with a sell rating, three have given a hold rating and one has assigned a buy rating to the company. The average 12-month price objective among brokers that have issued ratings on the stock in the last year is $2.8333.

A number of research analysts have commented on GWH shares. Roth Mkm set a $3.50 target price on shares of ESS Tech and gave the company a “buy” rating in a research report on Friday, October 10th. Wall Street Zen downgraded shares of ESS Tech from a “hold” rating to a “sell” rating in a research note on Friday, January 23rd. Finally, Weiss Ratings reaffirmed a “sell (d-)” rating on shares of ESS Tech in a research report on Monday, December 29th.

ESS Tech Stock Down 3.7%

Shares of NYSE GWH opened at $1.69 on Friday. ESS Tech has a twelve month low of $0.76 and a twelve month high of $13.87. The firm has a market cap of $33.05 million, a PE ratio of -0.33 and a beta of 1.46. The business has a fifty day simple moving average of $2.06 and a two-hundred day simple moving average of $2.37.

ESS Tech (NYSE:GWH) last posted its quarterly earnings results 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. The business had revenue of $0.21 million for the quarter, compared to the consensus estimate of $5.65 million. ESS Tech had a negative return on equity of 592.34% and a negative net margin of 1,045.28%. On average, research analysts expect that ESS Tech will post -6.87 earnings per share for the current year.

Hedge Funds Weigh In On ESS Tech

Large investors have recently added to or reduced their stakes in the company. Citadel Advisors LLC bought a new stake in shares of ESS Tech in the 3rd quarter valued at about $30,000. Yorkville Advisors Global LP purchased a new stake in ESS Tech during the third quarter valued at approximately $74,000. Finally, Green Alpha Advisors LLC boosted its stake 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 valued at $223,000 after acquiring an additional 108,055 shares in the last quarter. 46.77% of the stock is currently owned by institutional investors.

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.