ESS Tech, Inc. (NYSE:GWH – Free Report) – Research analysts at Roth Capital raised their third quarter 2024 earnings per share (EPS) estimates for shares of ESS Tech in a note to investors on Thursday, August 15. Roth Capital analyst J. Clare now expects the company to report earnings of $(0.12) per share for the quarter, up from their previous 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 fourth quarter 2024 earnings at -$0.08 per share, fiscal 2024 earnings at -$0.44 per share, first quarter 2025 earnings at -$0.09 per share, second quarter 2025 earnings at -$0.08 per share, third quarter 2025 earnings at -$0.08 per share, fourth quarter 2025 earnings at -$0.07 per share, fiscal 2025 earnings at -$0.31 per share, and fiscal 2026 earnings at -$0.22 per share.

Other research analysts have also recently issued reports on the company. Deutsche Bank Aktiengesellschaft decreased their price target on ESS Tech from $1.15 to $0.90 and set a “hold” rating for the company in a research note on Friday. Roth Mkm assumed coverage on ESS Tech in a research note on Friday, July 12. They set a “buy” rating and a $1.50 price target for the company. TD Cowen decreased their price target on ESS Tech from $2.00 to $1.50 and set a “buy” rating for the company in a research note on Thursday. Finally, Canaccord Genuity Group decreased their price target on ESS Tech from $1.25 to $1.00 and set a “hold” rating for the company in a research note on Friday. Three equities research analysts have rated the stock with a “hold” rating, three have assigned a “buy” rating and one has given the company’s stock a “strong buy” rating. Based on data from MarketBeat, ESS Tech currently has an average rating of “moderate buy” and an average price target of $1.74.

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ESS Tech shares lose 3.3%

ESS Tech stock opened at $0.56 on Monday. The company has a 50-day moving average of $0.76 and a 200-day moving average of $0.78. The company has a market cap of $98.22 million, a P/E ratio of -1.25 and a beta of 1.52. ESS Tech has a 52-week low of $0.56 and a 52-week high of $2.11.

Institutional inflows and outflows

Several hedge funds and other institutional investors have recently added to or reduced their holdings in the company. Vanguard Group Inc. increased its stake in ESS Tech by 6.9% in the 1st quarter. Vanguard Group Inc. now owns 3,263,849 shares of the company’s stock valued at $2,361,000 after buying an additional 212,070 shares during the same period. Green Alpha Advisors LLC increased its stake in ESS Tech by 11.7% in the 1st quarter. Green Alpha Advisors LLC now owns 219,440 shares of the company’s stock valued at $159,000 after buying an additional 23,022 shares during the same period. Point72 Asia Singapore Pte. Ltd. acquired a new position in ESS Tech during the 2nd quarter valued at about $148,000. AQR Capital Management LLC acquired a new stake in ESS Tech during the 2nd quarter valued at approximately $84,000. Finally, Cerity Partners LLC acquired a new stake in ESS Tech shares during the 4th quarter valued at approximately $81,000. 46.77% of the shares are currently owned by institutional investors.

ESS Tech Company Profile

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ESS Tech, Inc., an energy storage company, designs and manufactures iron flow batteries for commercial and utility energy storage applications worldwide. It offers energy storage products including Energy Warehouse, a behind-the-meter solution, and Energy Center, a in-front-of-the-meter solution. The company was founded in 2011 and is headquartered in Wilsonville, Oregon.

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