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

Shares of ESS Tech, Inc. (NYSE:GWH) have been assigned an average rating of “Hold” from the seven analysts that are covering the firm, MarketBeat Ratings reports. One research analyst has rated the stock with a sell rating, five have issued a hold rating and one has given a buy rating to the company. The average 1 year price target among brokerages that have updated their coverage on the stock in the last year is $2.8750.

GWH has been the subject of several research reports. Wall Street Zen cut shares of ESS Tech from a “hold” rating to a “sell” rating in a research note on Sunday, December 14th. Weiss Ratings reaffirmed a “sell (d-)” rating on shares of ESS Tech in a report on Monday, December 22nd. Finally, Roth Capital set a $3.50 price objective on ESS Tech and gave the stock a “buy” rating in a report on Friday, October 10th.

ESS Tech Trading Down 4.4%

Shares of ESS Tech stock opened at $1.85 on Monday. ESS Tech has a 1 year low of $0.76 and a 1 year high of $13.87. The company’s fifty day simple moving average is $3.09 and its 200-day simple moving average is $2.29. The company has a market cap of $36.38 million, a price-to-earnings ratio of -0.36 and a beta of 1.43.

ESS Tech (NYSE:GWH) last released its earnings results on Thursday, November 13th. The company reported ($0.73) EPS for the quarter, beating the consensus estimate of ($0.76) by $0.03. The firm had revenue of $0.21 million during the quarter, compared to analysts’ expectations of $5.65 million. ESS Tech had a negative net margin of 1,045.28% and a negative return on equity of 592.34%. As a group, research analysts forecast that ESS Tech will post -6.87 earnings per share for the current fiscal year.

Institutional Investors Weigh In On ESS Tech

An institutional investor recently bought a new position in ESS Tech stock. Yorkville Advisors Global LP acquired a new position in shares of ESS Tech, Inc. (NYSE:GWH) in the third quarter, according to its most recent disclosure with the Securities and Exchange Commission. The firm acquired 48,374 shares of the company’s stock, valued at approximately $74,000. ESS Tech accounts for about 0.0% of Yorkville Advisors Global LP’s portfolio, making the stock its 28th largest holding. Yorkville Advisors Global LP owned approximately 0.33% of ESS Tech as of its most recent filing with the Securities and Exchange Commission. Institutional investors and hedge funds own 46.77% of the company’s stock.

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.