Roth Capital Weighs in on ESS Tech, Inc.’s Q3 2024 Earnings (NYSE:GWH)

ESS Tech, Inc. (NYSE:GWH) – Equities research analysts at Roth Capital boosted their Q3 2024 earnings per share estimates for ESS Tech in a research report issued on Thursday, August 15th. Roth Capital analyst J. Clare now anticipates that the company will post earnings of ($0.12) per share for the quarter, up from their prior forecast of ($0.13). Roth Capital currently has a “Strong-Buy” rating on the stock. The consensus estimate for ESS Tech’s current full-year earnings is ($0.42) per share. Roth Capital also issued estimates for ESS Tech’s Q4 2024 earnings at ($0.08) EPS, FY2024 earnings at ($0.44) EPS, Q1 2025 earnings at ($0.09) EPS, Q2 2025 earnings at ($0.08) EPS, Q3 2025 earnings at ($0.08) EPS, Q4 2025 earnings at ($0.07) EPS, FY2025 earnings at ($0.31) EPS and FY2026 earnings at ($0.22) EPS.

A number of other equities analysts have also commented on the company. Canaccord Genuity Group cut their price objective on ESS Tech from $1.25 to $1.00 and set a “hold” rating on the stock in a research note on Friday, August 16th. TD Cowen cut their price objective on ESS Tech from $2.00 to $1.50 and set a “buy” rating on the stock in a research note on Thursday, August 15th. Roth Mkm assumed coverage on ESS Tech in a research note on Friday, July 12th. They issued a “buy” rating and a $1.50 price objective on the stock. Finally, Deutsche Bank Aktiengesellschaft cut their price objective on ESS Tech from $1.15 to $0.90 and set a “hold” rating on the stock in a research note on Friday, August 16th. Three investment analysts have rated the stock with a hold rating, three have given a buy rating and one has given a strong buy rating to the company’s stock. According to data from MarketBeat.com, the company has a consensus rating of “Moderate Buy” and a consensus price target of $1.74.

ESS Tech Price Performance

ESS Tech stock opened at $0.55 on Monday. The stock’s 50 day moving average is $0.75 and its 200 day moving average is $0.77. The firm has a market cap of $95.56 million, a P/E ratio of -1.21 and a beta of 1.52. ESS Tech has a one year low of $0.53 and a one year high of $2.11.

Hedge Funds Weigh In On ESS Tech

Several institutional investors have recently added to or reduced their stakes in the business. Vanguard Group Inc. lifted its holdings in shares of ESS Tech by 6.9% in the 1st quarter. Vanguard Group Inc. now owns 3,263,849 shares of the company’s stock worth $2,361,000 after purchasing an additional 212,070 shares in the last quarter. SG Americas Securities LLC bought a new position in shares of ESS Tech in the 1st quarter worth $31,000. Green Alpha Advisors LLC lifted its holdings in shares of ESS Tech by 11.7% in the 1st quarter. Green Alpha Advisors LLC now owns 219,440 shares of the company’s stock worth $159,000 after purchasing an additional 23,022 shares in the last quarter. Cerity Partners LLC bought a new position in shares of ESS Tech in the 4th quarter worth $81,000. Finally, Paloma Partners Management Co bought a new position in shares of ESS Tech in the 1st quarter worth $27,000. 46.77% of the stock is owned by institutional investors and hedge funds.

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.