ESS Tech, Inc. (NYSE:GWH) Given Consensus Recommendation of "Reduce" by Brokerages

Key Points

• ESS Tech, Inc. (NYSE:GWH) has received a consensus recommendation of "Reduce" from nine analysts, with two rating the stock as a sell and six as a hold.
• The company's shares have recently dropped by 16.7%, currently trading at $7.54, with a twelve-month price objective averaging $2.8750 among brokerages.
• ESS Tech reported a loss of $0.90 per share for the last quarter, missing expectations, despite achieving revenues of $2.36 million compared to a consensus estimate of $0.60 million.

Shares of ESS Tech, Inc. (NYSE:GWH - Get Free Report) have been given an average rating of "Reduce" by the nine analysts that are currently covering the firm, Marketbeat Ratings reports. Two analysts have rated the stock with a sell recommendation, six have given a hold recommendation and one has given a buy recommendation to the company. The average twelve-month price objective among brokerages that have updated their coverage on the stock in the last year is $2.8750.

GWH has been the topic of a number of recent analyst reports. Weiss Ratings reissued a "sell (e+)" rating on shares of ESS Tech in a research report on Wednesday, October 8th. Roth Capital set a $3.50 price objective on ESS Tech and gave the stock a "buy" rating in a research note on Friday. Wall Street Zen raised ESS Tech from a "sell" rating to a "hold" rating in a research note on Friday, September 26th. Finally, Robert W. Baird lowered their price target on ESS Tech from $6.00 to $2.00 and set a "neutral" rating for the company in a report on Monday, August 18th.

ESS Tech Trading Down 16.7%

NYSE GWH opened at $7.54 on Wednesday. The company has a market capitalization of $109.78 million, a PE ratio of -1.20 and a beta of 1.23. The stock has a 50-day simple moving average of $1.91 and a 200 day simple moving average of $1.87. ESS Tech has a 12 month low of $0.76 and a 12 month high of $13.87.

ESS Tech (NYSE:GWH - Get Free Report) last released its quarterly earnings data on Thursday, August 14th. The company reported ($0.90) earnings per share for the quarter, missing the consensus estimate of ($0.88) by ($0.02). ESS Tech had a negative return on equity of 321.20% and a negative net margin of 1,217.22%.The firm had revenue of $2.36 million for the quarter, compared to the consensus estimate of $0.60 million. As a group, sell-side analysts predict that ESS Tech will post -6.87 earnings per share for the current fiscal year.

ESS Tech Company Profile

ESS Tech, Inc, an energy storage company, designs and produces iron flow batteries for commercial and utility-scale energy storage applications worldwide. It offers energy storage products, which include Energy Warehouse, a behind-the-meter solution; and Energy Center, a front-of-the-meter solution. The company was founded in 2011 and is headquartered in Wilsonville, Oregon.

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