ESS Tech (NYSE:GWH – Get Free Report) issued its earnings results on Thursday. The company reported ($0.73) EPS for the quarter, topping analysts’ consensus estimates of ($0.76) by $0.03, FiscalAI reports. ESS Tech had a negative net margin of 1,217.22% and a negative return on equity of 321.20%. The company had revenue of $0.21 million for the quarter, compared to the consensus estimate of $5.65 million.
ESS Tech Stock Performance
GWH stock traded down $1.44 during mid-day trading on Friday, reaching $2.82. The company had a trading volume of 1,253,912 shares, compared to its average volume of 2,884,166. The firm has a fifty day simple moving average of $3.20 and a 200 day simple moving average of $2.20. The company has a market capitalization of $40.99 million, a price-to-earnings ratio of -0.45 and a beta of 1.40. ESS Tech has a fifty-two week low of $0.76 and a fifty-two week high of $13.87.
Analysts Set New Price Targets
GWH has been the topic of several analyst reports. Robert W. Baird reduced their price target on shares of ESS Tech from $6.00 to $2.00 and set a “neutral” rating on the stock in a research report on Monday, August 18th. Roth Capital set a $3.50 target price on ESS Tech and gave the company a “buy” rating in a research report on Friday, October 10th. Weiss Ratings reiterated a “sell (e+)” rating on shares of ESS Tech in a report on Wednesday, October 8th. Finally, Wall Street Zen downgraded ESS Tech from a “hold” rating to a “sell” rating in a research report on Saturday, October 18th. One analyst has rated the stock with a Buy rating, five have issued a Hold rating and one has assigned a Sell rating to the company’s stock. According to data from MarketBeat, the stock has an average rating of “Hold” and a consensus target price of $2.88.
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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