Does Wall Street Rate ESS Tech Inc. (GWH) Shares A Buy?

As of Thursday close, ESS Tech Inc.’s (NYSE:GWH) stock was up $0.32, moving up 8.49 percent to $4.09. The average number of shares traded per day over the past five days has been 1,098,480 shares. 1 time new highs have been achieved over the past 5 days, with a -$1.14 fall in that time frame. In the last twenty days, the average volume was 807,470, while in the previous 50 days, it was 967,378.


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Since last month, GWH stock retreated -30.44%. Shares of the company fell to $3.58 on 05/12/22, the lowest level in the past month. A 52-week high of $28.92 was reached on 01/03/22 after having rallying from a 52-week low of $3.65. Since the beginning of this year, GWH’s stock price has dropped by -64.25% or -$7.35, and marked a new high 1 time. However, the stock has declined by -85.86% since its 52-week high.

ESS Tech Inc. (GWH) last reported insider trading activity 73 days ago on Mar 01. NIGGLI MICHAEL R, the Director of the company, purchased of 20,000 shares for $5.01 on Mar 01. It resulted in a $100,168 investment by the insider. Evans Craig E sold 1,342 shares at an average price of $6.05 on Jan 24. The insider now owns 5,373,083 shares following the transaction. On Jan 24, Chief Executive Officer Dresselhuys Eric P. sold 59,642 shares at $6.05 apiece. The transaction was valued at $361,001.

Financial Health

In the three months ended September 29, ESS Tech Inc.’s quick ratio stood at 18.00, while its current ratio was 18.00, showing that the company is able to pay off its debt. According to company report, the long-term debt-to-equity ratio for the quarter ending September 29 was 0.01, and the total debt-to-equity ratio was 0.02. Based on annual data, GWH earned $1.89 million in gross profit and brought in $60.6 million in revenue.

In ESS Tech Inc.’s quarter-end financial report for September 29, it reported total debt of $1.87 million. While analysts expected ESS Tech Inc. to report -$0.06 quarterly earnings, the actual figure was -$5.82 per share. The liabilities of ESS Tech Inc. were 45.04 million at the end of its most recent quarter ended September 29, and its total debt was $25.67 million. The value of shareholders’ equity is $152.56 million.

Technical Picture

This quick technical analysis looks at ESS Tech Inc.’s (GWH) price momentum. With a historical volatility rate of 85.52%, the RSI 9-day stood at 25.94% on 12 May.

With respect to its five-day moving average, the current ESS Tech Inc. price is down by -21.80% percent or -$1.14. At present, GWH shares trade -30.44% below its 20-day simple moving average and -64.77% percent below its 100-day simple moving average. However, the stock is currently trading approximately -18.04% below its SMA50 and -58.77% below its SMA200.

Stochastic coefficient K was 9.46% and Stochastic coefficient D was 6.35%, while ATR was 0.48. Given the Stochastic reading of 22.77% for the 14-day period, the RSI (14) reading has been calculated as 30.04%. As of today, the MACD Oscillator reading stands at -0.85, while the 14-day reading stands at -1.12.

Analyst Ratings

Deutsche Bank launched its rating on ESS Tech Inc. (NYSE: GWH) to a Hold in a note to investors on March 31, 2022. ESS Tech Inc. (GWH) has been rated Overweight by analysts. According to 0 brokerage firms, GWH is a sell, and 1 firms recommend it is a Hold. There are 0 analysts who say the stock is underweight. A total of 1 analyst rate ESS Tech Inc. stock as buy, with 4 recommending it as overweight.

With a median target price of $10.00, the current consensus forecast for the stock is $7.00 – $28.00. Based on these forecasts, analysts predict ESS Tech Inc. (GWH) will achieve an average price target of $12.50.

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