ESS Tech (GWH) Scheduled to Post Earnings on Wednesday

ESS Tech (NYSE:GWH) will be announcing its earnings results 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 participating in 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) earnings per share (EPS) for the quarter, missing the consensus estimate of ($24.75) by ($2.25). ESS Tech had a negative net margin of 982.87% and a negative return on equity of 77.52%. The business had revenue of $0.35 million during the quarter, compared to the consensus estimate 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 Price Performance

Shares of NYSE GWH opened at $9.92 on Tuesday. ESS Tech has a fifty-two week low of $5.20 and a fifty-two week high of $21.15. The firm has a market capitalization of $117.00 million, a P/E ratio of -1.46 and a beta of 1.41. The company’s 50 day simple moving average is $6.97 and its 200 day simple moving average is $9.63.

Analyst Ratings Changes

A number of research analysts have recently weighed in on GWH shares. Deutsche Bank Aktiengesellschaft cut their price target on ESS Tech from $17.25 to $13.50 and set a “hold” rating on the stock in a research note on Friday, August 16th. TD Cowen reduced their target price on ESS Tech from $30.00 to $22.50 and set a “buy” rating on the stock in a report on Thursday, August 15th. Finally, Canaccord Genuity Group decreased their target price on ESS Tech from $18.75 to $15.00 and set a “hold” rating for the company in a research report on Friday, August 16th. Three 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 MarketBeat, the company has an average rating of “Moderate Buy” and a consensus price target of $21.75.

Insiders Place Their Bets

In related news, Director Sandeep Nijhawan sold 7,000 shares of the business’s stock in a transaction on Wednesday, September 11th. The shares were sold at an average price of $5.72, for a total value of $40,040.00. Following the sale, the director now directly owns 15,537 shares of the company’s stock, valued at approximately $88,871.64. The trade was a 0.00 % decrease in their position. The transaction was disclosed in a legal filing with the SEC, which can be accessed through this hyperlink. Corporate 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.