Zacks: Brokerages Anticipate ESS Tech, Inc. (NYSE:GWH) to Announce -$0.15 Earnings Per Share

Equities analysts expect ESS Tech, Inc. (NYSE:GWHGet Rating) to report earnings per share of ($0.15) for the current fiscal quarter, Zacks Investment Research reports. Two analysts have provided estimates for ESS Tech’s earnings, with estimates ranging from ($0.15) to ($0.14). The company is scheduled to report its next quarterly earnings results after the market closes on Monday, January 1st.

On average, analysts expect that ESS Tech will report full-year earnings of ($0.65) per share for the current fiscal year, with EPS estimates ranging from ($0.67) to ($0.62). For the next fiscal year, analysts anticipate that the firm will post earnings of ($0.53) per share, with EPS estimates ranging from ($0.70) to ($0.35). Zacks’ earnings per share averages are a mean average based on a survey of sell-side research analysts that follow ESS Tech.

ESS Tech (NYSE:GWHGet Rating) last announced its earnings results on Thursday, February 24th. The company reported ($0.23) earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of ($0.06) by ($0.17).

A number of analysts have recently weighed in on GWH shares. Robert W. Baird cut their price objective on ESS Tech from $15.00 to $9.00 in a research report on Friday, February 25th. Canaccord Genuity Group lowered their target price on shares of ESS Tech from $18.50 to $10.00 in a research note on Monday, February 28th. Guggenheim initiated coverage on shares of ESS Tech in a research note on Tuesday, March 22nd. They set a “buy” rating and a $10.00 target price for the company. Deutsche Bank Aktiengesellschaft initiated coverage on shares of ESS Tech in a research note on Wednesday, March 30th. They set a “hold” rating and a $7.00 target price for the company. Finally, Zacks Investment Research upgraded shares of ESS Tech from a “sell” rating to a “hold” rating in a research note on Tuesday. Two analysts have rated the stock with a hold rating and seven have assigned a buy rating to the company. According to data from MarketBeat.com, the company has a consensus rating of “Buy” and an average target price of $17.57.

In related news, CEO Eric P. Dresselhuys sold 59,642 shares of the firm’s stock in a transaction that occurred on Monday, January 24th. The shares were sold at an average price of $6.05, for a total transaction of $360,834.10. The sale was disclosed in a document filed with the SEC, which is accessible through the SEC website. Also, Director Michael R. Niggli bought 20,000 shares of the firm’s stock in a transaction that occurred on Tuesday, March 1st. The shares were purchased at an average price of $5.01 per share, for a total transaction of $100,200.00. The disclosure for this purchase can be found here.

Several institutional investors and hedge funds have recently made changes to their positions in GWH. Wells Fargo & Company MN acquired a new position in ESS Tech in the 4th quarter worth $56,000. Van ECK Associates Corp bought a new stake in shares of ESS Tech during the 4th quarter valued at about $89,000. Penserra Capital Management LLC bought a new stake in shares of ESS Tech during the 4th quarter valued at about $102,000. Advisor Group Holdings Inc. bought a new stake in shares of ESS Tech during the 4th quarter valued at about $107,000. Finally, Renaissance Technologies LLC bought a new position in ESS Tech in the 4th quarter worth about $118,000. Institutional investors own 42.63% of the company’s stock.

Shares of ESS Tech stock traded down $0.20 during trading hours on Friday, reaching $5.44. 1,075,792 shares of the company were exchanged, compared to its average volume of 848,654. ESS Tech has a 1 year low of $3.65 and a 1 year high of $28.92. The firm has a fifty day moving average of $5.21. The company has a current ratio of 18.02, a quick ratio of 18.02 and a debt-to-equity ratio of 0.01.

About ESS Tech (Get Rating)

ESS Tech, Inc, an energy storage company, designs and produces iron flow batteries for commercial and utility-scale energy storage applications worldwide. It provides energy storage products, which include Energy Warehouse, a behind-the-meter solution; and Energy Center, a front-of-the-meter solution.

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