Roth Capital Has Strong Outlook for ESS Tech FY2024 Earnings

ESS Tech, Inc. (NYSE:GWH) – Stock analysts at Roth Capital upped their FY2024 earnings per share estimates for shares of ESS Tech in a research report issued to clients and investors on Tuesday, March 4th. Roth Capital analyst J. Clare now anticipates that the company will earn ($6.73) per share for the year, up from their prior estimate of ($6.79). Roth Capital currently has a “Hold” rating on the stock. The consensus estimate for ESS Tech’s current full-year earnings is ($6.87) per share. Roth Capital also issued estimates for ESS Tech’s Q4 2024 earnings at ($1.34) EPS, Q1 2025 earnings at ($1.26) EPS, Q2 2025 earnings at ($1.30) EPS, Q3 2025 earnings at ($1.17) EPS, Q4 2025 earnings at ($1.12) EPS, FY2025 earnings at ($4.84) EPS and FY2026 earnings at ($4.68) EPS.

GWH has been the topic of a number of other research reports. Canaccord Genuity Group reaffirmed a “hold” rating and set a $8.00 price objective on shares of ESS Tech in a research report on Thursday, November 14th. Roth Mkm lowered ESS Tech from a “buy” rating to a “neutral” rating and dropped their target price for the company from $17.00 to $3.00 in a research report on Tuesday. Baird R W cut ESS Tech from a “strong-buy” rating to a “strong sell” rating in a report on Thursday, November 14th. Oppenheimer downgraded ESS Tech from an “outperform” rating to a “market perform” rating in a research report on Thursday, November 14th. Finally, Robert W. Baird lowered shares of ESS Tech from a “neutral” rating to an “underperform” rating and decreased their price target for the company from $14.00 to $9.00 in a research note on Thursday, November 14th. Two analysts have rated the stock with a sell rating, six have given a hold rating and one has given a buy rating to the company’s stock. According to data from MarketBeat, ESS Tech currently has an average rating of “Hold” and an average target price of $11.33.

ESS Tech Trading Down 2.7 %

NYSE GWH opened at $3.35 on Thursday. The stock has a market cap of $39.78 million, a PE ratio of -0.51 and a beta of 1.31. ESS Tech has a 12 month low of $2.92 and a 12 month high of $14.10. The company’s 50-day moving average price is $5.17 and its 200-day moving average price is $6.12.

Institutional Trading of ESS Tech

A hedge fund recently raised its stake in ESS Tech stock. Baird Financial Group Inc. lifted its position in shares of ESS Tech, Inc. (NYSE:GWH) by 78.5% in the 4th quarter, according to its most recent filing with the Securities & Exchange Commission. The fund owned 405,938 shares of the company’s stock after buying an additional 178,532 shares during the quarter. Baird Financial Group Inc. owned approximately 3.42% of ESS Tech worth $2,387,000 at the end of the most recent quarter. Institutional investors own 46.77% of the company’s stock.

About ESS Tech

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.