Analysts Set ESS Tech, Inc. (NYSE:GWH) PT at $2.83

ESS Tech, Inc. (NYSE:GWH) has received a consensus rating of “Hold” from the five brokerages that are presently covering the stock, Marketbeat reports. One investment analyst has rated the stock with a sell rating, three have assigned a hold rating and one has issued a buy rating on the company. The average 1 year price target among brokerages that have covered the stock in the last year is $2.8333.

GWH has been the topic of a number of recent research reports. Wall Street Zen downgraded ESS Tech from a “hold” rating to a “sell” rating in a report on Friday. Weiss Ratings reaffirmed a “sell (d-)” rating on shares of ESS Tech in a research note on Monday, December 29th. Finally, Roth Mkm set a $3.50 price target on ESS Tech and gave the company a “buy” rating in a research report on Friday, October 10th.

ESS Tech Trading Down 6.5%

Shares of ESS Tech stock opened at $1.79 on Friday. 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 $2.10 and its 200-day simple moving average is $2.37. The company has a market cap of $35.02 million, a price-to-earnings ratio of -0.35 and a beta of 1.46.

ESS Tech (NYSE:GWH) last issued its quarterly earnings results on Thursday, November 13th. The company reported ($0.73) earnings per share for the quarter, beating analysts’ consensus estimates 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. As a group, research analysts forecast that ESS Tech will post -6.87 earnings per share for the current fiscal year.

Hedge Funds Weigh In On ESS Tech

Several institutional investors have recently added to or reduced their stakes in GWH. Green Alpha Advisors LLC boosted its position in ESS Tech by 1,016.7% in the fourth quarter. Green Alpha Advisors LLC now owns 118,683 shares of the company’s stock valued at $223,000 after buying an additional 108,055 shares in the last quarter. Yorkville Advisors Global LP bought a new position in shares of ESS Tech in the third quarter valued at approximately $74,000. Finally, Citadel Advisors LLC bought a new position in shares of ESS Tech in the third quarter valued at approximately $30,000. 46.77% of the stock is owned by institutional investors.

About ESS Tech

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.