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

Shares of ESS Tech, Inc. (NYSE:GWH) have been assigned a consensus recommendation of “Hold” from the seven analysts that are presently covering the stock, Marketbeat Ratings reports. One analyst has rated the stock with a sell recommendation, five have assigned a hold recommendation and one has assigned a buy recommendation to the company. The average 1 year price objective among analysts that have covered the stock in the last year is $2.8750.

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

ESS Tech Stock Up 7.7%

NYSE:GWH opened at $2.03 on Monday. The business’s 50-day simple moving average is $2.81 and its two-hundred day simple moving average is $2.32. ESS Tech has a 52 week low of $0.76 and a 52 week high of $13.87. The stock has a market cap of $39.73 million, a PE ratio of -0.40 and a beta of 1.46.

ESS Tech (NYSE:GWH) last released its earnings results on Thursday, November 13th. The company reported ($0.73) earnings per share (EPS) for the quarter, topping 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 return on equity of 592.34% and a negative net margin of 1,045.28%. Sell-side analysts anticipate 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 bought a new position in ESS Tech, Inc. (NYSE:GWH) during the third quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The fund bought 48,374 shares of the company’s stock, valued at approximately $74,000. ESS Tech makes up 0.0% of Yorkville Advisors Global LP’s holdings, making the stock its 28th largest position. Yorkville Advisors Global LP owned 0.33% of ESS Tech at the end of the most recent quarter. Institutional investors and hedge funds own 46.77% of the company’s stock.

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.