ESS Tech (NYSE:GWH) Stock Price Up 1.5% – Should You Buy?

by · The Cerbat Gem

Shares of ESS Tech, Inc. (NYSE:GWH – Get Free Report) shot up 1.5% during mid-day trading on Monday . The company traded as high as $1.07 and last traded at $1.0250. 549,447 shares traded hands during trading, a decline of 51% from the average session volume of 1,111,979 shares. The stock had previously closed at $1.01.

Analyst Upgrades and Downgrades

A number of brokerages have issued reports on GWH. Weiss Ratings reissued a “sell (e+)” rating on shares of ESS Tech in a report on Monday, May 4th. Roth Mkm restated a “buy” rating and set a $2.00 price target on shares of ESS Tech in a research report on Monday, May 18th. One investment analyst has rated the stock with a Buy rating, one has issued a Hold rating and one has issued a Sell rating to the company’s stock. Based on data from MarketBeat.com, the company presently has a consensus rating of “Hold” and an average target price of $2.00.

Get Our Latest Stock Analysis on GWH

ESS Tech Price Performance

The business’s 50-day moving average price is $1.08 and its 200 day moving average price is $1.61. The stock has a market capitalization of $30.12 million, a PE ratio of -0.30 and a beta of 1.40. The company has a debt-to-equity ratio of 0.95, a quick ratio of 1.07 and a current ratio of 1.08.

ESS Tech (NYSE:GWH – Get Free Report) last released its quarterly earnings results on Thursday, May 7th. The company reported ($0.54) EPS for the quarter, missing analysts’ consensus estimates of ($0.29) by ($0.25). The firm had revenue of $0.13 million for the quarter, compared to analysts’ expectations of $0.40 million. ESS Tech had a negative net margin of 1,045.28% and a negative return on equity of 1,251.69%. Research analysts forecast that ESS Tech, Inc. will post -1.68 earnings per share for the current year.

Institutional Inflows and Outflows

Hedge funds and other institutional investors have recently added to or reduced their stakes in the stock. Yorkville Advisors Global LP purchased a new position in ESS Tech in the third quarter worth $74,000. LPL Financial LLC purchased a new position in ESS Tech in the fourth quarter worth $27,000. Citadel Advisors LLC purchased a new position in ESS Tech in the third quarter worth $30,000. State Street Corp grew its position in ESS Tech by 188.1% in the fourth quarter. State Street Corp now owns 46,975 shares of the company’s stock worth $88,000 after acquiring an additional 30,671 shares in the last quarter. Finally, Alyeska Investment Group L.P. purchased a new position in ESS Tech in the fourth quarter worth $2,632,000. 46.77% of the stock is currently owned by hedge funds and other institutional investors.

About ESS Tech

(Get Free Report)

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.

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