ESS Tech (NYSE:GWH) Trading Up 0.4% – Should You Buy?

ESS Tech, Inc. (NYSE:GWH)’s share price shot up 0.4% during mid-day trading on Monday . The company traded as high as $1.19 and last traded at $1.1650. 519,698 shares traded hands during mid-day trading, an increase of 65% from the average session volume of 314,913 shares. The stock had previously closed at $1.16.

Analysts Set New Price Targets

Several brokerages have weighed in on GWH. Weiss Ratings reiterated a “sell (d-)” rating on shares of ESS Tech in a research note on Monday, December 29th. Wall Street Zen cut shares of ESS Tech from a “hold” rating to a “sell” rating in a report on Friday, January 23rd. Finally, Roth Mkm dropped their price target on shares of ESS Tech from $3.50 to $2.50 and set a “buy” rating for the company in a research report on Friday, March 6th. One research analyst has rated the stock with a Buy rating, one has assigned a Hold rating and one has issued a Sell rating to the company. According to data from MarketBeat, ESS Tech presently has a consensus rating of “Hold” and a consensus price target of $2.25.

ESS Tech Price Performance

The company has a current ratio of 1.04, a quick ratio of 1.03 and a debt-to-equity ratio of 1.08. The firm has a market cap of $31.65 million, a price-to-earnings ratio of -0.27 and a beta of 1.55. The company’s 50-day moving average is $1.31 and its 200-day moving average is $2.26.

ESS Tech (NYSE:GWH) last announced its quarterly earnings data on Thursday, March 5th. The company reported ($1.20) EPS for the quarter, missing the consensus estimate of ($0.76) by ($0.44). ESS Tech had a negative net margin of 1,045.28% and a negative return on equity of 1,141.31%. The firm had revenue of ($1.59) million for the quarter, compared to analyst estimates of ($1.60) million. Equities research analysts predict that ESS Tech, Inc. will post -1 earnings per share for the current year.

Hedge Funds Weigh In On ESS Tech

A number of institutional investors have recently modified their holdings of the business. Citadel Advisors LLC bought a new stake in shares of ESS Tech during the 3rd quarter worth $30,000. Yorkville Advisors Global LP bought a new position in ESS Tech in the third quarter valued at about $74,000. Green Alpha Advisors LLC raised its stake in ESS Tech by 1,016.7% during the fourth quarter. Green Alpha Advisors LLC now owns 118,683 shares of the company’s stock worth $223,000 after acquiring an additional 108,055 shares in the last quarter. Geode Capital Management LLC raised its stake in ESS Tech by 140.2% during the fourth quarter. Geode Capital Management LLC now owns 136,470 shares of the company’s stock worth $257,000 after acquiring an additional 79,657 shares in the last quarter. Finally, LPL Financial LLC bought a new position in shares of ESS Tech in the fourth quarter worth about $27,000. 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.