ESS Tech, Inc. (NYSE:GWH) Receives $2.50 Average Price Target from Analysts

Shares of ESS Tech, Inc. (NYSE:GWH) have been given a consensus rating of “Hold” by the five brokerages that are presently covering the company, Marketbeat reports. One research analyst has rated the stock with a sell rating, three have assigned a hold rating and one has given a buy rating to the company. The average 1-year target price among brokerages that have issued ratings on the stock in the last year is $2.50.

GWH has been the topic of several recent analyst reports. Weiss Ratings reiterated a “sell (d-)” rating on shares of ESS Tech in a report on Monday, December 29th. Wall Street Zen cut ESS Tech from a “hold” rating to a “sell” rating in a report on Friday, January 23rd. Finally, Roth Mkm cut their target price on ESS Tech from $3.50 to $2.50 and set a “buy” rating for the company in a research note on Friday, March 6th.

Hedge Funds Weigh In On ESS Tech

A number of hedge funds have recently modified their holdings of the business. Citadel Advisors LLC purchased a new stake in ESS Tech in the 3rd quarter valued at about $30,000. Yorkville Advisors Global LP acquired a new position in ESS Tech in the third quarter valued at about $74,000. Green Alpha Advisors LLC boosted 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 buying an additional 108,055 shares during the period. Geode Capital Management LLC boosted 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 buying an additional 79,657 shares during the period. Finally, LPL Financial LLC acquired a new stake in shares of ESS Tech during the fourth quarter valued at about $27,000. 46.77% of the stock is currently owned by hedge funds and other institutional investors.

ESS Tech Stock Performance

NYSE GWH opened at $1.29 on Friday. The company has a debt-to-equity ratio of 1.08, a quick ratio of 1.03 and a current ratio of 1.04. The stock’s fifty day moving average is $1.60 and its two-hundred day moving average is $2.32. The firm has a market capitalization of $34.91 million, a P/E ratio of -0.30 and a beta of 1.46. ESS Tech has a fifty-two week low of $0.76 and a fifty-two week high of $13.87.

ESS Tech (NYSE:GWH) last issued its earnings results on Thursday, March 5th. The company reported ($1.20) earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of ($0.76) by ($0.44). The company had revenue of ($1.59) million during the quarter, compared to analyst estimates of ($1.60) million. ESS Tech had a negative return on equity of 1,141.31% and a negative net margin of 1,045.28%. On average, research analysts anticipate that ESS Tech will post -6.87 earnings per share for the current year.

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.