ESS Tech (NYSE:GWH) Posts Quarterly Earnings Results

ESS Tech (NYSE:GWH) issued its earnings results on Thursday. The company reported ($1.20) EPS for the quarter, FiscalAI reports. ESS Tech had a negative return on equity of 592.34% and a negative net margin of 1,045.28%.The firm had revenue of ($1.59) million during the quarter.

ESS Tech Price Performance

GWH traded down $0.07 on Thursday, hitting $1.38. The company had a trading volume of 925,120 shares, compared to its average volume of 653,414. The stock has a fifty day simple moving average of $1.69 and a 200-day simple moving average of $2.33. The firm has a market capitalization of $32.15 million, a P/E ratio of -0.27 and a beta of 1.46. ESS Tech has a 52-week low of $0.76 and a 52-week high of $13.87.

Analysts Set New Price Targets

A number of equities analysts have issued reports on GWH shares. Wall Street Zen cut shares of ESS Tech from a “hold” rating to a “sell” rating in a research report on Friday, January 23rd. Weiss Ratings reaffirmed a “sell (d-)” rating on shares of ESS Tech in a research report on Monday, December 29th. One investment analyst has rated the stock with a Buy rating, three have given a Hold rating and one has given a Sell rating to the company’s stock. According to MarketBeat, ESS Tech has an average rating of “Hold” and a consensus target price of $2.83.

Institutional Inflows and Outflows

A number of institutional investors and hedge funds have recently made changes to their positions in the company. XTX Topco Ltd raised its holdings in ESS Tech by 137.8% in the fourth quarter. XTX Topco Ltd now owns 49,609 shares of the company’s stock worth $93,000 after purchasing an additional 28,749 shares in the last quarter. Engineers Gate Manager LP purchased a new stake in shares of ESS Tech in the 4th quarter worth about $31,000. Arosa Capital Management LP increased its stake 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 in the last quarter. Alyeska Investment Group L.P. purchased a new position in ESS Tech during the 4th quarter valued at about $2,632,000. Finally, State Street Corp boosted its stake in ESS Tech by 188.1% during 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. Hedge funds and other institutional investors 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.