Roth Mkm Issues Pessimistic Forecast for ESS Tech (NYSE:GWH) Stock Price

ESS Tech (NYSE:GWH) had its price target lowered by analysts at Roth Mkm from $3.50 to $2.50 in a note issued to investors on Friday,Benzinga reports. The brokerage presently has a “buy” rating on the stock. Roth Mkm’s price objective suggests a potential upside of 93.05% from the company’s current price.

GWH has been the subject of a number of other reports. Weiss Ratings reaffirmed a “sell (d-)” rating on shares of ESS Tech in a research note on Monday, December 29th. Wall Street Zen lowered shares of ESS Tech from a “hold” rating to a “sell” rating in a report on Friday, January 23rd. One research analyst has rated the stock with a Buy rating, three have issued a Hold rating and one has given a Sell rating to the stock. According to data from MarketBeat, the stock has an average rating of “Hold” and a consensus target price of $2.50.

ESS Tech Stock Performance

Shares of NYSE:GWH opened at $1.30 on Friday. The business has a fifty day moving average of $1.67 and a 200-day moving average of $2.32. ESS Tech has a twelve month low of $0.76 and a twelve month high of $13.87. The firm has a market cap of $30.28 million, a PE ratio of -0.30 and a beta of 1.46.

ESS Tech (NYSE:GWH) last issued its quarterly earnings results on Thursday, March 5th. The company reported ($1.20) earnings per share (EPS) for the quarter, missing the consensus estimate of ($0.76) by ($0.44). ESS Tech had a negative return on equity of 1,397.77% and a negative net margin of 1,045.28%.The company had revenue of ($1.59) million for the quarter. On average, analysts anticipate that ESS Tech will post -6.87 EPS for the current fiscal year.

Institutional Trading of ESS Tech

A number of hedge funds and other institutional investors have recently added to or reduced their stakes in GWH. XTX Topco Ltd raised its holdings in ESS Tech by 137.8% during the 4th quarter. XTX Topco Ltd now owns 49,609 shares of the company’s stock worth $93,000 after purchasing an additional 28,749 shares during the last quarter. Engineers Gate Manager LP bought a new position in shares of ESS Tech in the 4th quarter valued at about $31,000. Arosa Capital Management LP grew its position in shares of ESS Tech by 40.7% during the 4th quarter. Arosa Capital Management LP now owns 950,000 shares of the company’s stock worth $1,786,000 after buying an additional 274,583 shares during the period. Alyeska Investment Group L.P. acquired a new stake in shares of ESS Tech during the 4th quarter worth approximately $2,632,000. Finally, State Street Corp raised its stake in shares of ESS Tech by 188.1% during the fourth quarter. State Street Corp now owns 46,975 shares of the company’s stock worth $88,000 after buying an additional 30,671 shares during the last quarter. 46.77% of the stock is currently owned by institutional investors and hedge funds.

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.