FY2025 Earnings Forecast for ESS Tech, Inc. Issued By Oppenheimer (NYSE:GWH)

ESS Tech, Inc. (NYSE:GWHGet Rating) – Research analysts at Oppenheimer cut their FY2025 earnings per share estimates for ESS Tech in a research report issued to clients and investors on Friday, November 4th. Oppenheimer analyst C. Rusch now anticipates that the company will post earnings per share of $0.59 for the year, down from their previous forecast of $0.60. The consensus estimate for ESS Tech’s current full-year earnings is ($0.49) per share.

ESS Tech (NYSE:GWHGet Rating) last posted its quarterly earnings data on Thursday, August 11th. The company reported ($0.10) EPS for the quarter, topping the consensus estimate of ($0.16) by $0.06. The company had revenue of $0.69 million during the quarter, compared to the consensus estimate of $0.01 million.

GWH has been the topic of several other research reports. EF Hutton Acquisition Co. I started coverage on ESS Tech in a research note on Friday, October 28th. They issued a “buy” rating and a $6.00 price objective on the stock. Canaccord Genuity Group started coverage on ESS Tech in a research note on Wednesday, July 13th. They set a “hold” rating and a $3.75 target price on the stock. Finally, Chardan Capital decreased their target price on ESS Tech from $5.00 to $4.50 and set a “neutral” rating on the stock in a research note on Friday. Three research analysts have rated the stock with a hold rating and five have assigned a buy rating to the stock. According to data from MarketBeat, ESS Tech presently has an average rating of “Moderate Buy” and an average price target of $9.78.

ESS Tech Stock Down 8.4 %

NYSE GWH opened at $3.70 on Monday. The stock’s 50-day moving average price is $4.10 and its 200-day moving average price is $4.09. ESS Tech has a 52 week low of $2.59 and a 52 week high of $21.37. The company has a market capitalization of $567.08 million, a P/E ratio of -2.20 and a beta of 2.25.

Hedge Funds Weigh In On ESS Tech

A number of institutional investors and hedge funds have recently modified their holdings of GWH. Principal Financial Group Inc. purchased a new position in shares of ESS Tech in the 2nd quarter worth approximately $33,000. Cetera Advisor Networks LLC purchased a new position in shares of ESS Tech in the 2nd quarter worth approximately $33,000. First Republic Investment Management Inc. purchased a new position in shares of ESS Tech in the 2nd quarter worth approximately $36,000. Arizona State Retirement System purchased a new position in shares of ESS Tech in the 2nd quarter worth approximately $41,000. Finally, Brighton Jones LLC purchased a new position in shares of ESS Tech in the 2nd quarter worth approximately $50,000. Hedge funds and other institutional investors own 40.80% of the company’s stock.

Insiders Place Their Bets

In other ESS Tech news, CEO Eric P. Dresselhuys sold 110,082 shares of ESS Tech stock in a transaction that occurred on Monday, October 17th. The stock was sold at an average price of $3.72, for a total value of $409,505.04. Following the sale, the chief executive officer now owns 1,381,859 shares of the company’s stock, valued at approximately $5,140,515.48. The transaction was disclosed in a filing with the SEC, which is accessible through this hyperlink. In other ESS Tech news, CEO Eric P. Dresselhuys sold 110,082 shares of ESS Tech stock in a transaction that occurred on Monday, October 17th. The stock was sold at an average price of $3.72, for a total value of $409,505.04. Following the sale, the chief executive officer now owns 1,381,859 shares of the company’s stock, valued at approximately $5,140,515.48. The transaction was disclosed in a filing with the SEC, which is accessible through this hyperlink. Also, CFO Amir Moftakhar sold 8,386 shares of ESS Tech stock in a transaction that occurred on Wednesday, October 19th. The stock was sold at an average price of $3.48, for a total value of $29,183.28. Following the completion of the sale, the chief financial officer now directly owns 558,850 shares in the company, valued at approximately $1,944,798. The disclosure for this sale can be found here. Insiders have sold a total of 198,013 shares of company stock valued at $754,189 in the last quarter. 6.80% of the stock is currently owned by insiders.

About ESS Tech

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ESS Tech, Inc, an energy storage company, designs and produces iron flow batteries for commercial and utility-scale energy storage applications worldwide. It offers energy storage products, which include Energy Warehouse, a behind-the-meter solution; and Energy Center, a front-of-the-meter solution. The company was founded in 2011 and is headquartered in Wilsonville, Oregon.

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Earnings History and Estimates for ESS Tech (NYSE:GWH)

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