ESS Tech (GWH) Scheduled to Post Quarterly Earnings on Wednesday

ESS Tech (NYSE:GWH - Get Free Report) is scheduled to be posting its quarterly earnings results after the market closes on Wednesday, November 13th. Analysts expect ESS Tech to post earnings of ($1.97) per share for the quarter. Investors that wish to listen to the company's conference call can do so using this link.

ESS Tech (NYSE:GWH - Get Free Report) last released its earnings results on Wednesday, August 14th. The company reported ($27.00) earnings per share (EPS) for the quarter, missing analysts' consensus estimates 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 during 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 Down 4.8 %

Shares of ESS Tech stock traded down $0.41 on Wednesday, hitting $8.21. 102,877 shares of the company traded hands, compared to its average volume of 65,487. ESS Tech has a 12-month low of $5.20 and a 12-month high of $21.15. The company has a market cap of $96.74 million, a PE ratio of -1.30 and a beta of 1.41. The company has a 50-day moving average price of $6.92 and a 200 day moving average price of $9.66.

Insider Activity

In related news, Director Sandeep Nijhawan sold 7,000 shares of the company's stock in a transaction on Wednesday, September 11th. The shares were sold at an average price of $5.72, for a total transaction of $40,040.00. Following the completion of the sale, the director now directly owns 15,537 shares of the company's stock, valued at approximately $88,871.64. This represents a 0.00 % decrease in their position. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this hyperlink. Insiders own 2.30% of the company's stock.

Analyst Upgrades and Downgrades

GWH has been the topic of a number of recent research reports. Roth Capital upgraded ESS Tech to a "strong-buy" rating in a research note on Friday, July 12th. Roth Mkm began coverage on ESS Tech in a research note on Friday, July 12th. They issued a "buy" rating and a $22.50 price target for the company. Canaccord Genuity Group cut their price objective on shares of ESS Tech from $18.75 to $15.00 and set a "hold" rating on the stock in a research report on Friday, August 16th. TD Cowen decreased their target price on shares of 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 dropped their price target on shares of ESS Tech from $17.25 to $13.50 and set a "hold" rating on the stock in a research note on Friday, August 16th. Three research analysts have rated the stock with a hold rating, three have assigned a buy rating and one has issued a strong buy rating to the company. Based on data from MarketBeat, the company has a consensus rating of "Moderate Buy" and an average target price of $21.75.

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.