ESS Tech (NYSE:GWH) Stock Price Up 1.5% – Should You Buy?

ESS Tech, Inc. (NYSE:GWH) rose 1.5% on Monday . The company traded as high as $1.07 and last traded at $1.0250. Approximately 549,447 shares changed hands during mid-day trading, a decline of 51% from the average daily volume of 1,111,979 shares. The stock had previously closed at $1.01.

Analyst Ratings Changes

GWH has been the topic of a number of research analyst reports. Roth Mkm restated a “buy” rating and issued a $2.00 target price on shares of ESS Tech in a research note on Monday, May 18th. Weiss Ratings restated a “sell (e+)” rating on shares of ESS Tech in a research note on Monday, May 4th. One analyst has rated the stock with a Buy rating, one has assigned a Hold rating and one has given a Sell rating to the company. According to data from MarketBeat, the company presently has an average rating of “Hold” and an average price target of $2.00.

ESS Tech Price Performance

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 company has a market cap of $30.12 million, a P/E ratio of -0.30 and a beta of 1.40. The business’s fifty day moving average is $1.08 and its 200 day moving average is $1.61.

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%. As a group, sell-side analysts anticipate that ESS Tech, Inc. will post -1.68 EPS for the current year.

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. Alyeska Investment Group L.P. bought a new stake in ESS Tech during the 4th quarter valued at $2,632,000. Arosa Capital Management LP raised its holdings in ESS Tech by 40.7% during the 4th quarter. Arosa Capital Management LP now owns 950,000 shares of the company’s stock valued at $1,786,000 after acquiring an additional 274,583 shares during the period. Geode Capital Management LLC raised its holdings in ESS Tech by 140.2% during the 4th quarter. Geode Capital Management LLC now owns 136,470 shares of the company’s stock valued at $257,000 after acquiring an additional 79,657 shares during the period. Green Alpha Advisors LLC raised its holdings in ESS Tech by 1,016.7% during the 4th quarter. Green Alpha Advisors LLC now owns 118,683 shares of the company’s stock valued at $223,000 after acquiring an additional 108,055 shares during the period. Finally, XTX Topco Ltd raised its holdings in 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 acquiring an additional 28,749 shares during the period. 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.