ESS Tech (NYSE:GWH) Trading 0.4% Higher – Here’s What Happened

Shares of ESS Tech, Inc. (NYSE:GWH) traded up 0.4% during mid-day trading on Monday . The stock traded as high as $1.19 and last traded at $1.1650. 519,698 shares changed hands during trading, an increase of 65% from the average session volume of 314,913 shares. The stock had previously closed at $1.16.

Analyst Ratings Changes

Several equities analysts have recently issued reports on the company. Weiss Ratings reiterated a “sell (d-)” rating on shares of ESS Tech in a research report on Monday, December 29th. Wall Street Zen cut ESS Tech from a “hold” rating to a “sell” rating in a research report on Friday, January 23rd. Finally, Roth Mkm lowered their price target on ESS Tech from $3.50 to $2.50 and set a “buy” rating on the stock in a research report on Friday, March 6th. One investment analyst has rated the stock with a Buy rating, one has given a Hold rating and one has given a Sell rating to the stock. According to MarketBeat.com, the company has a consensus rating of “Hold” and an average target price of $2.25.

ESS Tech Trading Up 0.4%

The company has a market capitalization of $30.57 million, a price-to-earnings ratio of -0.26 and a beta of 1.55. The firm has a 50-day moving average price of $1.29 and a 200-day moving average price of $2.25. The company has a current ratio of 1.04, a quick ratio of 1.03 and a debt-to-equity ratio of 1.08.

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%. As a group, sell-side analysts predict that ESS Tech, Inc. will post -1 EPS for the current year.

Hedge Funds Weigh In On ESS Tech

A number of hedge funds have recently modified their holdings of GWH. Alyeska Investment Group L.P. acquired a new position in shares of ESS Tech in the 4th quarter worth $2,632,000. Arosa Capital Management LP grew its holdings in shares of ESS Tech by 40.7% in the 4th quarter. Arosa Capital Management LP now owns 950,000 shares of the company’s stock worth $1,786,000 after acquiring an additional 274,583 shares during the last quarter. Green Alpha Advisors LLC grew its holdings in shares of ESS Tech by 1,016.7% in the 4th quarter. Green Alpha Advisors LLC now owns 118,683 shares of the company’s stock worth $223,000 after acquiring an additional 108,055 shares during the last quarter. Geode Capital Management LLC grew its holdings in shares of ESS Tech by 140.2% in the 4th quarter. Geode Capital Management LLC now owns 136,470 shares of the company’s stock worth $257,000 after acquiring an additional 79,657 shares during the last quarter. Finally, Yorkville Advisors Global LP acquired a new position in shares of ESS Tech in the 3rd quarter worth $74,000. 46.77% of the stock is currently owned by institutional investors and hedge funds.

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.