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

ESS Tech, Inc. (NYSE:GWH) has been given a consensus rating of “Hold” by the five ratings firms that are presently covering the company, Marketbeat reports. One research analyst has rated the stock with a sell rating, three have issued a hold rating and one has given a buy rating to the company. The average twelve-month target price among brokers that have updated their coverage on the stock in the last year is $2.8333.

Several research firms recently issued reports on GWH. Weiss Ratings reiterated a “sell (d-)” rating on shares of ESS Tech in a report on Monday, December 29th. Wall Street Zen upgraded shares of ESS Tech from a “sell” rating to a “hold” rating in a research note on Saturday, January 3rd. Finally, Roth Mkm set a $3.50 price target on shares of ESS Tech and gave the stock a “buy” rating in a research report on Friday, October 10th.

Hedge Funds Weigh In On ESS Tech

Several institutional investors have recently modified their holdings of GWH. Yorkville Advisors Global LP purchased a new position in ESS Tech in the third quarter valued at $74,000. Green Alpha Advisors LLC raised its position in ESS Tech by 1,016.7% in the 4th quarter. Green Alpha Advisors LLC now owns 118,683 shares of the company’s stock valued at $223,000 after purchasing an additional 108,055 shares in the last quarter. Finally, Citadel Advisors LLC purchased a new position in shares of ESS Tech in the 3rd quarter valued at about $30,000. Institutional investors and hedge funds own 46.77% of the company’s stock.

ESS Tech Stock Performance

ESS Tech stock opened at $1.91 on Friday. The company’s 50 day simple moving average is $2.12 and its 200-day simple moving average is $2.36. ESS Tech has a 1 year low of $0.76 and a 1 year high of $13.87. The company has a market capitalization of $37.47 million, a price-to-earnings ratio of -0.37 and a beta of 1.46.

ESS Tech (NYSE:GWH) last posted its earnings results on Thursday, November 13th. The company reported ($0.73) earnings per share for the quarter, beating the consensus estimate 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 during the quarter, compared to the consensus estimate of $5.65 million. Equities analysts expect that ESS Tech will post -6.87 earnings per share for the current 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.