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

ESS Tech, Inc. (NYSE:GWH) – Investment analysts at Roth Capital boosted their Q3 2024 earnings estimates for shares of ESS Tech in a report issued on Thursday, August 15th. Roth Capital analyst J. Clare now forecasts that the company will earn ($0.12) per share for the quarter, up from their prior estimate of ($0.13). Roth Capital 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 analysts also recently weighed in on the stock. Canaccord Genuity Group cut their price target on shares of ESS Tech from $1.25 to $1.00 and set a “hold” rating on the stock in a research report on Friday, August 16th. TD Cowen cut their price target on shares of ESS Tech from $2.00 to $1.50 and set a “buy” rating on the stock in a research report on Thursday, August 15th. Deutsche Bank Aktiengesellschaft cut their price target on shares of ESS Tech from $1.15 to $0.90 and set a “hold” rating on the stock in a research report on Friday, August 16th. Finally, Roth Mkm assumed coverage on shares of ESS Tech in a research report on Friday, July 12th. They issued a “buy” rating and a $1.50 price target on the stock. Three equities research analysts have rated the stock with a hold rating, three have given a buy rating and one has issued a strong buy rating to the company’s stock. According to data from MarketBeat, the company currently has a consensus rating of “Moderate Buy” and a consensus target price of $1.74.

ESS Tech Price Performance

Shares of NYSE:GWH opened at $0.55 on Monday. The company has a market capitalization of $95.56 million, a price-to-earnings ratio of -1.21 and a beta of 1.52. The firm’s 50 day simple moving average is $0.75 and its 200 day simple moving average is $0.77. ESS Tech has a fifty-two week low of $0.53 and a fifty-two week high of $2.11.

Institutional Trading of ESS Tech

A number of large investors have recently bought and sold shares of GWH. Vanguard Personalized Indexing Management LLC bought a new position in shares of ESS Tech during the 2nd quarter worth approximately $27,000. Paloma Partners Management Co bought a new position in shares of ESS Tech during the 1st quarter worth approximately $27,000. Point72 DIFC Ltd bought a new position in shares of ESS Tech during the 2nd quarter worth approximately $32,000. CWM LLC bought a new position in shares of ESS Tech during the 2nd quarter worth approximately $34,000. Finally, SG Americas Securities LLC bought a new position in shares of ESS Tech during the 1st quarter worth approximately $31,000. 46.77% of the stock is owned by institutional investors.

ESS Tech Company Profile

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.