Drew Buckley Acquires 25,000 Shares of ESS Tech (NYSE:GWH) Stock

ESS Tech, Inc. (NYSE:GWH) CEO Drew Buckley acquired 25,000 shares of the firm’s stock in a transaction that occurred on Thursday, June 4th. The shares were purchased at an average cost of $1.03 per share, with a total value of $25,750.00. Following the completion of the acquisition, the chief executive officer owned 25,000 shares in the company, valued at $25,750. This trade represents a ∞ increase in their position. The transaction was disclosed in a legal filing with the SEC, which is available through the SEC website.

ESS Tech Price Performance

NYSE GWH opened at $0.85 on Wednesday. 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 fifty day simple moving average of $1.05 and a 200 day simple moving average of $1.51. The company has a market cap of $24.89 million, a P/E ratio of -0.25 and a beta of 1.40. ESS Tech, Inc. has a 1 year low of $0.57 and a 1 year high of $13.87.

ESS Tech (NYSE:GWH) last posted its quarterly earnings data on Thursday, May 7th. The company reported ($0.54) earnings per share (EPS) for the quarter, missing the consensus estimate of ($0.29) by ($0.25). The firm had revenue of $0.13 million for 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%. On average, sell-side analysts predict that ESS Tech, Inc. will post -1.68 EPS for the current year.

Analysts Set New Price Targets

Several research firms recently issued reports on GWH. Roth Mkm reaffirmed a “buy” rating and set a $2.00 price objective on shares of ESS Tech in a report on Monday, May 18th. Weiss Ratings reiterated a “sell (e+)” rating on shares of ESS Tech in a research note on Monday, May 4th. One research analyst has rated the stock with a Buy rating, one has given a Hold rating and one has issued a Sell rating to the company. According to MarketBeat, the company currently has a consensus rating of “Hold” and a consensus price target of $2.00.

Hedge Funds Weigh In On ESS Tech

Several large investors have recently bought and sold shares of the stock. XTX Topco Ltd raised its stake 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 purchasing an additional 28,749 shares during the last quarter. Engineers Gate Manager LP acquired a new position in ESS Tech during the 4th quarter valued at $31,000. Arosa Capital Management LP raised its stake 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 purchasing an additional 274,583 shares during the last quarter. Alyeska Investment Group L.P. acquired a new position in ESS Tech during the 4th quarter valued at $2,632,000. Finally, State Street Corp raised its stake in ESS Tech by 188.1% during the 4th quarter. State Street Corp now owns 46,975 shares of the company’s stock valued at $88,000 after purchasing an additional 30,671 shares during the last quarter. 46.77% of the stock is currently owned by institutional investors and hedge funds.

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.