ESS Tech (NYSE:GWH) CEO Acquires $25,750.00 in Stock

ESS Tech, Inc. (NYSE:GWH) CEO Drew Buckley purchased 25,000 shares of the stock in a transaction that occurred on Thursday, June 4th. The stock was bought at an average cost of $1.03 per share, for a total transaction of $25,750.00. Following the acquisition, the chief executive officer directly owned 25,000 shares in the company, valued at $25,750. This trade represents a ∞ increase in their position. The purchase was disclosed in a legal filing with the Securities & Exchange Commission, which is available at this link.

ESS Tech Trading Up 0.5%

NYSE:GWH opened at $0.85 on Thursday. The company has a current ratio of 1.08, a quick ratio of 1.07 and a debt-to-equity ratio of 0.95. The stock has a market capitalization of $24.83 million, a PE ratio of -0.25 and a beta of 1.40. The firm’s 50 day moving average is $1.04 and its 200 day moving average is $1.50. ESS Tech, Inc. has a 12 month low of $0.57 and a 12 month high of $13.87.

ESS Tech (NYSE:GWH) last posted its quarterly earnings results on Thursday, May 7th. The company reported ($0.54) EPS for the quarter, missing analysts’ consensus estimates of ($0.29) by ($0.25). The company had revenue of $0.13 million during the quarter, compared to the consensus estimate of $0.40 million. ESS Tech had a negative return on equity of 1,251.69% and a negative net margin of 1,045.28%. Sell-side analysts expect that ESS Tech, Inc. will post -1.68 earnings per share for the current year.

Analyst Ratings Changes

A number of brokerages have issued reports on GWH. Weiss Ratings reissued a “sell (e+)” rating on shares of ESS Tech in a report on Monday, May 4th. Roth Mkm reissued a “buy” rating and set a $2.00 target price on shares of ESS Tech in a report on Monday, May 18th. One analyst has rated the stock with a Buy rating, one has issued a Hold rating and one has assigned a Sell rating to the company. According to MarketBeat.com, ESS Tech has an average rating of “Hold” and a consensus price target of $2.00.

Institutional Investors Weigh In On ESS Tech

A number of hedge funds and other institutional investors have recently bought and sold shares of the business. LPL Financial LLC bought a new stake in ESS Tech during the 4th quarter valued at $27,000. Engineers Gate Manager LP bought a new stake in ESS Tech during the 4th quarter valued at $31,000. Citadel Advisors LLC bought a new stake in ESS Tech during the 3rd quarter valued at $30,000. XTX Topco Ltd grew its position in shares of ESS Tech by 137.8% during the 4th quarter. XTX Topco Ltd now owns 49,609 shares of the company’s stock valued at $93,000 after purchasing an additional 28,749 shares in the last quarter. Finally, State Street Corp grew its position in shares of ESS Tech by 188.1% during the 4th quarter. State Street Corp now owns 46,975 shares of the company’s stock valued at $88,000 after purchasing an additional 30,671 shares in the last quarter. 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.