FY2024 Earnings Forecast for ESS Tech Issued By Roth Capital

ESS Tech, Inc. (NYSE:GWH) – Equities research analysts at Roth Capital boosted their FY2024 earnings per share (EPS) estimates for ESS Tech in a report released on Tuesday, March 4th. Roth Capital analyst J. Clare now expects that the company will post earnings per share of ($6.73) for the year, up from their previous forecast of ($6.79). Roth Capital has a “Hold” rating on the stock. The consensus estimate for ESS Tech’s current full-year earnings is ($6.87) per share. Roth Capital also issued estimates for ESS Tech’s Q4 2024 earnings at ($1.34) EPS, Q1 2025 earnings at ($1.26) EPS, Q2 2025 earnings at ($1.30) EPS, Q3 2025 earnings at ($1.17) EPS, Q4 2025 earnings at ($1.12) EPS, FY2025 earnings at ($4.84) EPS and FY2026 earnings at ($4.68) EPS.

A number of other analysts have also recently issued reports on the company. Baird R W cut ESS Tech from a “strong-buy” rating to a “strong sell” rating in a research report on Thursday, November 14th. Oppenheimer cut ESS Tech from an “outperform” rating to a “market perform” rating in a research note on Thursday, November 14th. Canaccord Genuity Group restated a “hold” rating and issued a $8.00 target price on shares of ESS Tech in a research report on Thursday, November 14th. Roth Mkm cut ESS Tech from a “buy” rating to a “neutral” rating and reduced their price target for the stock from $17.00 to $3.00 in a report on Tuesday. Finally, Robert W. Baird lowered ESS Tech from a “neutral” rating to an “underperform” rating and lowered their target price for the stock from $14.00 to $9.00 in a research report on Thursday, November 14th. Two research analysts have rated the stock with a sell rating, six have given a hold rating and one has given a buy rating to the stock. According to data from MarketBeat.com, the stock currently has an average rating of “Hold” and a consensus target price of $11.33.

ESS Tech Price Performance

Shares of ESS Tech stock opened at $3.35 on Thursday. ESS Tech has a one year low of $2.92 and a one year high of $14.10. The firm has a market cap of $39.78 million, a price-to-earnings ratio of -0.51 and a beta of 1.31. The stock’s 50-day moving average is $5.17 and its 200-day moving average is $6.12.

Institutional Investors Weigh In On ESS Tech

An institutional investor recently raised its position in ESS Tech stock. Baird Financial Group Inc. lifted its position in ESS Tech, Inc. (NYSE:GWH) by 78.5% during the 4th quarter, according to the company in its most recent Form 13F filing with the SEC. The institutional investor owned 405,938 shares of the company’s stock after buying an additional 178,532 shares during the period. Baird Financial Group Inc. owned about 3.42% of ESS Tech worth $2,387,000 as of its most recent SEC filing. Hedge funds and other institutional investors own 46.77% 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.