ESS Tech (NYSE:GWH) Cut to “Sell” at Wall Street Zen

Wall Street Zen cut shares of ESS Tech (NYSE:GWH) from a hold rating to a sell rating in a report published on Friday morning.

GWH has been the topic of a number of other reports. Weiss Ratings reissued a “sell (d-)” rating on shares of ESS Tech in a report on Monday, December 29th. Roth Mkm set a $3.50 price target on shares of ESS Tech and gave the stock a “buy” rating in a research note on Friday, October 10th. One equities research analyst has rated the stock with a Buy rating, three have assigned a Hold rating and one has issued a Sell rating to the company’s stock. Based on data from MarketBeat, ESS Tech presently has an average rating of “Hold” and a consensus price target of $2.83.

ESS Tech Stock Performance

ESS Tech stock opened at $1.79 on Friday. ESS Tech has a fifty-two week low of $0.76 and a fifty-two week high of $13.87. The stock has a market cap of $35.02 million, a P/E ratio of -0.35 and a beta of 1.46. The firm’s fifty day moving average price is $2.10 and its 200-day moving average price is $2.37.

ESS Tech (NYSE:GWH) last released its earnings results on Thursday, November 13th. The company reported ($0.73) EPS for the quarter, beating analysts’ consensus estimates of ($0.76) by $0.03. ESS Tech had a negative return on equity of 592.34% and a negative net margin of 1,045.28%.The business had revenue of $0.21 million for the quarter, compared to analysts’ expectations of $5.65 million. On average, analysts predict that ESS Tech will post -6.87 earnings per share for the current year.

Institutional Inflows and Outflows

Several institutional investors and hedge funds have recently made changes to their positions in the company. Citadel Advisors LLC bought a new stake in ESS Tech during the 3rd quarter valued at $30,000. Yorkville Advisors Global LP purchased a new position in shares of ESS Tech in the third quarter valued at about $74,000. Finally, Green Alpha Advisors LLC increased its position in shares of ESS Tech by 1,016.7% in the fourth 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. 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.