ESS Tech (NYSE:GWH) Issues Earnings Results

ESS Tech (NYSE:GWH) announced its quarterly earnings data on Tuesday. The company reported ($0.46) earnings per share (EPS) for the quarter, missing the consensus estimate of ($0.44) by ($0.02), FiscalAI reports. The company had revenue of $0.07 million for the quarter, compared to the consensus estimate of $0.10 million.

Here are the key takeaways from ESS Tech’s conference call:

• Sodium-ion growth strategy expanded with early-stage opportunities approaching $1 billion, focused on data centers, critical infrastructure, and utilities.
• ESS signed LOIs with Juniper Energy for at least 500 MWh of sodium-ion deployments through 2032 and with Alsym Energy for 8.5 GWh of U.S.-made cell supply; the initial Juniper project targets 80 MWh for a California utility in 2027.
• The first Bridge sodium-ion module has begun charge-discharge testing, with the first full-scale 1.2 MWh system targeted to operate in-house toward the end of 2026. Management highlighted its non-flammable chemistry, broad temperature range, and plug-and-play design as advantages for data-center applications.
• Second-quarter revenue fell to $73,000 from $2.4 million, while the gross loss widened to $7.4 million and net loss increased to $15.6 million as legacy contracts wound down and product development continued.
• Liquidity remains a major risk: unrestricted cash was $10.8 million at quarter-end and approximately $5.6 million in cash and short-term investments as of July 31, with the company disclosing substantial doubt about its ability to continue as a going concern despite repaying $37 million of its $40 million Yorkville note.

ESS Tech Price Performance

Shares of NYSE GWH traded up $0.02 on Thursday, hitting $0.59. The company’s stock had a trading volume of 360,433 shares, compared to its average volume of 676,164. The stock has a 50 day moving average of $0.81 and a 200-day moving average of $1.10. The company has a debt-to-equity ratio of 0.95, a current ratio of 1.08 and a quick ratio of 1.07. The company has a market capitalization of $17.46 million, a price-to-earnings ratio of -0.20 and a beta of 1.41. ESS Tech has a 12-month low of $0.56 and a 12-month high of $13.87.

Insiders Place Their Bets

In other news, CEO Drew P. Buckley purchased 25,000 shares of the company’s stock in a transaction 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 completion of the purchase, the chief executive officer directly owned 25,000 shares of the company’s stock, valued at $25,750. The trade was a ∞ increase in their position. The purchase was disclosed in a document filed with the SEC, which is available at this hyperlink. Insiders sold a total of 8,890 shares of company stock valued at $8,226 in the last 90 days. 1.40% of the stock is currently owned by company insiders.

Institutional Inflows and Outflows

A number of large investors have recently added to or reduced their stakes in the stock. LPL Financial LLC bought a new position in shares of ESS Tech in the 4th quarter worth about $27,000. Citadel Advisors LLC acquired a new position in ESS Tech during the 3rd quarter valued at approximately $30,000. Engineers Gate Manager LP bought a new position in ESS Tech during the 4th quarter worth $31,000. State Street Corp increased its position in ESS Tech by 188.1% in the fourth quarter. State Street Corp now owns 46,975 shares of the company’s stock worth $88,000 after buying an additional 30,671 shares during the period. Finally, XTX Topco Ltd boosted its holdings in shares of ESS Tech by 137.8% during the fourth 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. 46.77% of the stock is currently owned by institutional investors.

Wall Street Analysts Forecast Growth

Several brokerages recently issued reports on GWH. Weiss Ratings reaffirmed a “sell (e+)” rating on shares of ESS Tech in a research report on Friday, July 31st. Roth Capital reaffirmed a “buy” rating and set a $2.00 price objective on shares of ESS Tech in a research report on Monday, May 18th. One equities research 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, the stock presently has a consensus rating of “Hold” and an average price target 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.