ESS Tech (NYSE:GWH) Rating Increased to Hold at Wall Street Zen

Wall Street Zen upgraded shares of ESS Tech (NYSE:GWH) from a sell rating to a hold rating in a research report report published on Saturday.

A number of other research analysts also recently issued reports on GWH. Roth Capital set a $3.50 price target on ESS Tech and gave the company a “buy” rating in a report on Friday, October 10th. Weiss Ratings reaffirmed a “sell (d-)” rating on shares of ESS Tech in a research report on Monday, December 29th. One equities research analyst has rated the stock with a Buy rating, five have issued a Hold rating and one has assigned a Sell rating to the company’s stock. According to MarketBeat.com, the company presently has an average rating of “Hold” and an average price target of $2.88.

ESS Tech Stock Performance

NYSE:GWH opened at $2.03 on Friday. The firm has a 50-day simple moving average of $2.81 and a 200-day simple moving average of $2.31. ESS Tech has a one year low of $0.76 and a one year high of $13.87. The firm has a market cap of $39.73 million, a P/E ratio of -0.40 and a beta of 1.46.

ESS Tech (NYSE:GWH) last released its quarterly earnings data on Thursday, November 13th. The company reported ($0.73) earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of ($0.76) by $0.03. The firm had revenue of $0.21 million for the quarter, compared to the consensus estimate of $5.65 million. ESS Tech had a negative net margin of 1,045.28% and a negative return on equity of 592.34%. On average, research analysts predict that ESS Tech will post -6.87 EPS for the current fiscal year.

Institutional Inflows and Outflows

A hedge fund recently bought a new stake in ESS Tech stock. Citadel Advisors LLC purchased a new position in ESS Tech, Inc. (NYSE:GWH) in the 3rd quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The firm purchased 19,773 shares of the company’s stock, valued at approximately $30,000. Citadel Advisors LLC owned approximately 0.14% of ESS Tech as of its most recent filing with the Securities and Exchange Commission (SEC). Hedge funds and other institutional investors 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.