ESS Tech (NYSE:GWH) CEO Drew Buckley Buys 25,000 Shares

ESS Tech, Inc. (NYSE:GWH) CEO Drew Buckley purchased 25,000 shares of the stock in a transaction dated Thursday, June 4th. The stock was purchased at an average price of $1.03 per share, for a total transaction of $25,750.00. Following the completion of the acquisition, the chief executive officer directly owned 25,000 shares in the company, valued at approximately $25,750. This represents a ∞ increase in their position. The acquisition was disclosed in a legal filing with the SEC, which is available at the SEC website.

ESS Tech Stock Down 5.4%

Shares of NYSE GWH traded down $0.05 during trading hours on Monday, hitting $0.86. 471,363 shares of the stock were exchanged, compared to its average volume of 642,376. The company has a quick ratio of 1.07, a current ratio of 1.08 and a debt-to-equity ratio of 0.95. The company has a market cap of $25.22 million, a PE ratio of -0.25 and a beta of 1.40. The firm has a fifty day moving average price of $1.05 and a 200-day moving average price of $1.52. ESS Tech, Inc. has a 12 month low of $0.57 and a 12 month high of $13.87.

ESS Tech (NYSE:GWH) last posted its earnings results on Thursday, May 7th. The company reported ($0.54) EPS for the quarter, missing analysts’ consensus estimates of ($0.29) by ($0.25). ESS Tech had a negative net margin of 1,045.28% and a negative return on equity of 1,251.69%. The firm had revenue of $0.13 million for the quarter, compared to analysts’ expectations of $0.40 million. On average, sell-side analysts expect that ESS Tech, Inc. will post -1.68 EPS for the current year.

Institutional Inflows and Outflows

A number of hedge funds have recently bought and sold shares of GWH. Citadel Advisors LLC acquired a new position in ESS Tech during the 3rd quarter valued at approximately $30,000. Yorkville Advisors Global LP acquired a new position in ESS Tech during the 3rd quarter valued at approximately $74,000. Green Alpha Advisors LLC increased its stake in ESS Tech by 1,016.7% during the 4th quarter. Green Alpha Advisors LLC now owns 118,683 shares of the company’s stock valued at $223,000 after purchasing an additional 108,055 shares in the last quarter. Geode Capital Management LLC increased its stake in ESS Tech by 140.2% during the 4th quarter. Geode Capital Management LLC now owns 136,470 shares of the company’s stock valued at $257,000 after purchasing an additional 79,657 shares in the last quarter. Finally, LPL Financial LLC acquired a new position in ESS Tech during the 4th quarter valued at approximately $27,000. Institutional investors and hedge funds own 46.77% of the company’s stock.

Analysts Set New Price Targets

A number of equities research analysts recently commented on the stock. Roth Mkm reissued a “buy” rating and set a $2.00 target price on shares of ESS Tech in a research report on Monday, May 18th. Weiss Ratings restated a “sell (e+)” rating on shares of ESS Tech in a research note on Monday, May 4th. One analyst has rated the stock with a Buy rating, one has given a Hold rating and one has issued a Sell rating to the company’s stock. Based on data from MarketBeat, the stock has a consensus rating of “Hold” and an average target price of $2.00.

ESS Tech Company Profile

ESS Tech, Inc (NYSE: GWH) is a Portland, Oregon‐based company specializing in long‐duration iron flow battery energy storage solutions. The company’s core business centers on the design, manufacture and deployment of modular battery systems that store electricity using an iron‐chloride electrochemical process. These systems are engineered to support grid operators, utilities, commercial and industrial customers in integrating renewable power, managing peak loads and ensuring reliable back‐up power.

At the heart of ESS Tech’s offering is its “Energy Warehouse,” a containerized flow battery system featuring non‐toxic, fully recyclable materials and a simple architecture that separates energy storage capacity from power output.