ESS Tech (GWH) to Release Earnings on Wednesday

ESS Tech (NYSE:GWH) is scheduled to issue its quarterly earnings data after the market closes on Wednesday, November 13th. Analysts expect the company to announce earnings of ($1.97) per share for the quarter. Individual interested in listening to the company’s earnings conference call can do so using this link.

ESS Tech (NYSE:GWH) last issued its earnings results on Wednesday, August 14th. The company reported ($27.00) EPS for the quarter, missing the consensus estimate of ($24.75) by ($2.25). ESS Tech had a negative return on equity of 77.52% and a negative net margin of 982.87%. The company had revenue of $0.35 million for the quarter, compared to analysts’ expectations of $3.24 million. On average, analysts expect ESS Tech to post $-7 EPS for the current fiscal year and $-5 EPS for the next fiscal year.

ESS Tech Stock Up 10.0 %

Shares of GWH opened at $8.61 on Wednesday. ESS Tech has a 52-week low of $5.20 and a 52-week high of $21.15. The company has a 50-day simple moving average of $6.88 and a 200-day simple moving average of $9.68. The company has a market capitalization of $101.51 million, a PE ratio of -1.37 and a beta of 1.41.

Wall Street Analysts Forecast Growth

A number of research analysts have issued reports on GWH shares. Roth Capital raised shares of ESS Tech to a “strong-buy” rating in a report on Friday, July 12th. Canaccord Genuity Group dropped their price objective on ESS Tech from $18.75 to $15.00 and set a “hold” rating for the company in a research note on Friday, August 16th. Roth Mkm initiated coverage on ESS Tech in a research report on Friday, July 12th. They set a “buy” rating and a $22.50 target price on the stock. TD Cowen dropped their price target on ESS Tech from $30.00 to $22.50 and set a “buy” rating for the company in a research report on Thursday, August 15th. Finally, Deutsche Bank Aktiengesellschaft decreased their price objective on shares of ESS Tech from $17.25 to $13.50 and set a “hold” rating on the stock in a research report on Friday, August 16th. Three investment analysts have rated the stock with a hold rating, three have assigned a buy rating and one has given a strong buy rating to the company’s stock. Based on data from MarketBeat.com, ESS Tech presently has an average rating of “Moderate Buy” and an average price target of $21.75.

Insider Transactions at ESS Tech

In related news, Director Sandeep Nijhawan sold 7,000 shares of the stock in a transaction on Wednesday, September 11th. The stock was sold at an average price of $5.72, for a total transaction of $40,040.00. Following the sale, the director now owns 15,537 shares of the company’s stock, valued at $88,871.64. This trade represents a 0.00 % decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available at the SEC website. Insiders own 2.30% of the company’s stock.

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.