FY2024 Earnings Forecast for ESS Tech Issued By Roth Capital

ESS Tech, Inc. (NYSE:GWH) – Investment analysts at Roth Capital boosted their FY2024 earnings per share (EPS) estimates for ESS Tech in a note issued to investors on Tuesday, March 4th. Roth Capital analyst J. Clare now expects that the company will post earnings of ($6.73) per share for the year, up from their previous estimate of ($6.79). Roth Capital 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 several other reports. Baird R W downgraded ESS Tech from a “strong-buy” rating to a “strong sell” rating in a report on Thursday, November 14th. Robert W. Baird downgraded ESS Tech from a “neutral” rating to an “underperform” rating and lowered their price target for the company from $14.00 to $9.00 in a report on Thursday, November 14th. Roth Mkm downgraded ESS Tech from a “buy” rating to a “neutral” rating and lowered their price target for the company from $17.00 to $3.00 in a report on Tuesday. Oppenheimer downgraded ESS Tech from an “outperform” rating to a “market perform” rating in a report on Thursday, November 14th. Finally, Canaccord Genuity Group reaffirmed a “hold” rating and set a $8.00 price target on shares of ESS Tech in a report on Thursday, November 14th. Two equities research analysts have rated the stock with a sell rating, six have assigned a hold rating and one has assigned a buy rating to the stock. According to data from MarketBeat, the company has a consensus rating of “Hold” and an average price target of $11.33.

ESS Tech Trading Down 4.7 %

ESS Tech stock opened at $3.18 on Thursday. The business’s fifty day simple moving average is $5.12 and its two-hundred day simple moving average is $6.10. ESS Tech has a 12 month low of $2.92 and a 12 month high of $14.10. The company has a market capitalization of $37.73 million, a price-to-earnings ratio of -0.48 and a beta of 1.37.

Institutional Inflows and Outflows

A hedge fund recently raised its stake in ESS Tech stock. Baird Financial Group Inc. raised its position in ESS Tech, Inc. (NYSE:GWH) by 78.5% during the fourth quarter, according to the company in its most recent disclosure with the SEC. The firm owned 405,938 shares of the company’s stock after acquiring 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. 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.