$960,000.00 in Sales Expected for ESS Tech, Inc. (NYSE:GWH) This Quarter

Wall Street brokerages expect ESS Tech, Inc. (NYSE:GWHGet Rating) to post sales of $960,000.00 for the current fiscal quarter, according to Zacks. Two analysts have issued estimates for ESS Tech’s earnings, with estimates ranging from $610,000.00 to $1.30 million. The company is expected to issue its next earnings report after the market closes on Monday, January 1st.

According to Zacks, analysts expect that ESS Tech will report full year sales of $9.36 million for the current year, with estimates ranging from $8.72 million to $10.00 million. For the next fiscal year, analysts forecast that the firm will report sales of $229.35 million, with estimates ranging from $214.49 million to $244.20 million. Zacks’ sales calculations are a mean average based on a survey of sell-side analysts that cover ESS Tech.

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

A number of equities analysts recently weighed in on GWH shares. Deutsche Bank Aktiengesellschaft started coverage on ESS Tech in a report on Wednesday, March 30th. They set a “hold” rating and a $7.00 price objective on the stock. Zacks Investment Research raised ESS Tech from a “sell” rating to a “hold” rating in a report on Tuesday, April 19th. Robert W. Baird decreased their price objective on ESS Tech from $15.00 to $9.00 in a report on Friday, February 25th. Guggenheim started coverage on ESS Tech in a report on Tuesday, March 22nd. They set a “buy” rating and a $10.00 price objective on the stock. Finally, Canaccord Genuity Group decreased their price objective on ESS Tech from $18.50 to $10.00 in a report on Monday, February 28th. Two equities research analysts have rated the stock with a hold rating and seven have given a buy rating to the company’s stock. According to data from MarketBeat, ESS Tech presently has a consensus rating of “Buy” and a consensus target price of $17.57.

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

Several hedge funds have recently modified their holdings of GWH. Wells Fargo & Company MN bought a new stake in shares of ESS Tech during the fourth quarter valued at approximately $56,000. Van ECK Associates Corp bought a new stake in shares of ESS Tech during the fourth quarter valued at approximately $89,000. Penserra Capital Management LLC bought a new stake in shares of ESS Tech during the fourth quarter valued at approximately $102,000. Advisor Group Holdings Inc. bought a new stake in shares of ESS Tech during the fourth quarter valued at approximately $107,000. Finally, Renaissance Technologies LLC bought a new stake in shares of ESS Tech during the fourth quarter valued at approximately $118,000. Hedge funds and other institutional investors own 42.63% of the company’s stock.

Shares of NYSE GWH opened at $5.44 on Friday. The company has a debt-to-equity ratio of 0.01, a quick ratio of 18.02 and a current ratio of 18.02. ESS Tech has a 1-year low of $3.65 and a 1-year high of $28.92. The firm’s 50-day moving average price is $5.21.

ESS Tech Company Profile (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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