ESS Tech (NYSE:GWH) CEO Drew Buckley Buys 25,000 Shares

ESS Tech, Inc. (NYSE:GWH) CEO Drew Buckley purchased 25,000 shares of the business’s stock in a transaction on Thursday, June 4th. The shares were bought at an average price of $1.03 per share, for a total transaction of $25,750.00. Following the purchase, the chief executive officer directly owned 25,000 shares in the company, valued at $25,750. This represents a ∞ increase in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available through this hyperlink.

ESS Tech Stock Performance

Shares of ESS Tech stock traded down $0.05 during trading on Monday, hitting $0.86. 471,363 shares of the company’s stock were exchanged, compared to its average volume of 642,376. The stock has a market capitalization of $25.22 million, a price-to-earnings ratio of -0.25 and a beta of 1.40. The business has a 50-day simple moving average of $1.05 and a 200-day simple moving average of $1.52. ESS Tech, Inc. has a 52-week low of $0.57 and a 52-week high of $13.87. 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) last posted its quarterly earnings results on Thursday, May 7th. The company reported ($0.54) EPS for the quarter, missing the consensus estimate of ($0.29) by ($0.25). The business had revenue of $0.13 million during 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%. On average, research analysts forecast that ESS Tech, Inc. will post -1.68 EPS for the current year.

Institutional Inflows and Outflows

Institutional investors and hedge funds have recently added to or reduced their stakes in the company. LPL Financial LLC purchased a new position in ESS Tech in the fourth quarter valued at $27,000. Citadel Advisors LLC purchased a new position in ESS Tech in the third quarter valued at $30,000. Engineers Gate Manager LP purchased a new position in ESS Tech in the fourth quarter valued at $31,000. Yorkville Advisors Global LP purchased a new position in ESS Tech in the third quarter valued at $74,000. Finally, State Street Corp increased its holdings in ESS Tech by 188.1% in the fourth quarter. State Street Corp now owns 46,975 shares of the company’s stock valued at $88,000 after buying an additional 30,671 shares in the last quarter. Hedge funds and other institutional investors own 46.77% of the company’s stock.

Analyst Upgrades and Downgrades

GWH has been the subject of several recent research reports. Weiss Ratings reiterated a “sell (e+)” rating on shares of ESS Tech in a research report on Monday, May 4th. Roth Mkm reaffirmed a “buy” rating and set a $2.00 price objective on shares of ESS Tech in a research note on Monday, May 18th. One research 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. According to data from MarketBeat.com, ESS Tech presently has a consensus rating of “Hold” and a consensus target price of $2.00.

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.