Fintel reports that on July 12, 2024, Roth MKM initiated coverage of ESS Tech (NYSE:GWH) with a Buy recommendation.
Analyst Price Forecast Suggests 110.39% Upside
As of July 4, 2024, the average one-year price target for ESS Tech is $1.90/share. The forecasts range from a low of $0.81 to a high of $3.15. The average price target represents an increase of 110.39% from its latest reported closing price of $0.90 / share.
See our leaderboard of companies with the largest price target upside.
The projected annual revenue for ESS Tech is 266MM, an increase of 2,588.37%. The projected annual non-GAAP EPS is -0.34.
What is the Fund Sentiment?
There are 185 funds or institutions reporting positions in ESS Tech. This is an decrease of 11 owner(s) or 5.61% in the last quarter. Average portfolio weight of all funds dedicated to GWH is 0.01%, an increase of 33.42%. Total shares owned by institutions decreased in the last three months by 7.68% to 57,580K shares. 
The put/call ratio of GWH is 0.15, indicating a bullish outlook.
What are Other Shareholders Doing?
Softbank Group holds 35,954K shares representing 20.55% ownership of the company. No change in the last quarter.
IWM - iShares Russell 2000 ETF holds 2,157K shares representing 1.23% ownership of the company. In its prior filing, the firm reported owning 2,330K shares , representing a decrease of 8.01%. The firm decreased its portfolio allocation in GWH by 39.51% over the last quarter.
PBW - Invesco WilderHill Clean Energy ETF holds 1,948K shares representing 1.11% ownership of the company. In its prior filing, the firm reported owning 5,116K shares , representing a decrease of 162.69%. The firm decreased its portfolio allocation in GWH by 63.67% over the last quarter.
Geode Capital Management holds 1,866K shares representing 1.07% ownership of the company. In its prior filing, the firm reported owning 1,758K shares , representing an increase of 5.81%. The firm decreased its portfolio allocation in GWH by 40.45% over the last quarter.
VTSMX - Vanguard Total Stock Market Index Fund Investor Shares holds 1,739K shares representing 0.99% ownership of the company. In its prior filing, the firm reported owning 1,593K shares , representing an increase of 8.39%. The firm decreased its portfolio allocation in GWH by 36.86% over the last quarter.
ESS Tech Background Information
(This description is provided by the company.)
ESS Inc. designs, builds and deploys environmentally sustainable, low-cost, iron flow batteries for long-duration commercial and utility-scale energy storage applications requiring from 4 to 12 hours of flexible energy capacity. The Energy Warehouse™ and Energy Center™ use earth-abundant iron, salt, and water for the electrolyte, resulting in an environmentally benign, long-life energy storage solution for the world’s renewable energy infrastructure. Established in 2011, ESS Inc. enables project developers, utilities, and commercial and industrial facility owners to make the transition to more flexible non-lithium-ion storage that is better suited for the grid and the environment.
Fintel is one of the most comprehensive investing research platforms available to individual investors, traders, financial advisors, and small hedge funds.
Our data covers the world, and includes fundamentals, analyst reports, ownership data and fund sentiment, options sentiment, insider trading, options flow, unusual options trades, and much more. Additionally, our exclusive stock picks are powered by advanced, backtested quantitative models for improved profits.
This story originally appeared on Fintel.
The views and opinions expressed herein are the views and opinions of the author and do not necessarily reflect those of Nasdaq, Inc.
%20with%20Buy%20Recommendation%20%7C%20Nasdaq&_biz_n=1&rnd=917069&cdn_o=a&_biz_z=1743326801115)
%20with%20Buy%20Recommendation%20%7C%20Nasdaq&rnd=863515&cdn_o=a&_biz_z=1743326801147)