ESS Tech (NYSE:GWH) Lowered to Sell Rating by Wall Street Zen

Wall Street Zen cut shares of ESS Tech (NYSE:GWH) from a hold rating to a sell rating in a report released on Friday.

A number of other research firms have also weighed in on GWH. Weiss Ratings reaffirmed a “sell (d-)” rating on shares of ESS Tech in a research report on Monday, December 29th. Roth Mkm set a $3.50 price target on ESS Tech and gave the stock a “buy” rating in a report on Friday, October 10th. One investment analyst has rated the stock with a Buy rating, three have assigned a Hold rating and one has given a Sell rating to the company’s stock. According to data from MarketBeat.com, ESS Tech has a consensus rating of “Hold” and a consensus target price of $2.83.

ESS Tech Stock Performance

NYSE GWH opened at $1.79 on Friday. The stock’s fifty day moving average is $2.10 and its two-hundred day moving average is $2.36. The firm has a market capitalization of $35.02 million, a P/E ratio of -0.35 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 posted its quarterly earnings results on Thursday, November 13th. The company reported ($0.73) earnings per share for the quarter, beating the consensus estimate of ($0.76) by $0.03. ESS Tech had a negative net margin of 1,045.28% and a negative return on equity of 592.34%. The business had revenue of $0.21 million during the quarter, compared to analysts’ expectations of $5.65 million. As a group, sell-side analysts forecast that ESS Tech will post -6.87 EPS for the current year.

Institutional Inflows and Outflows

A number of institutional investors have recently modified their holdings of the stock. Yorkville Advisors Global LP purchased a new position in ESS Tech in the third quarter worth $74,000. Citadel Advisors LLC acquired a new position in shares of ESS Tech during the 3rd quarter worth $30,000. Finally, Green Alpha Advisors LLC grew its stake in shares of ESS Tech by 1,016.7% during the 4th quarter. Green Alpha Advisors LLC now owns 118,683 shares of the company’s stock worth $223,000 after purchasing an additional 108,055 shares during the period. 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.