How did ESS Tech Inc. (GWH) surprise investors with its report?

Currently, ESS Tech Inc. [GWH] is trading at $2.49, up 6.41%. Until recently, the best way to gauge how the stock has performed was to look at its short-term value. The GWH shares have gain 15.81% over the last week, with a monthly amount glided 7.79%, and seem to be holding up well over a long-time horizon.

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On 19, January 2023, ESS Inc. Schedules Fourth Quarter and Full Year 2022 Financial Results Conference Call. In a post published today on Yahoo Finance, ESS Tech, Inc. (“ESS,” “ESS Inc.”) (NYSE:GWH), a leading manufacturer of long-duration energy storage solutions, announced today that it will hold a conference call on Wednesday, March 1, 2023 at 5:00 p.m. EST to discuss financial results for its fourth quarter and full year 2022 ended December 31, 2022.

From an analyst’s perspective:

Previously, Chardan Capital Markets started tracking the stock with Neutral rating on June 29, 2022, and set its price target to $3.50. On March 31, 2022, Deutsche Bank initiated with a Hold rating and assigned a price target of $7 on the stock. Guggenheim started tracking the stock assigning a Buy rating and suggested a price target of $10 on March 22, 2022. Robert W. Baird initiated its recommendation with a Outperform and recommended $15 as its price target on December 22, 2021. Oppenheimer started tracking with a Outperform rating for this stock on December 03, 2021, and assigned it a price target of $28. In a note dated November 30, 2021, Canaccord Genuity initiated an Buy rating and iterated a target price of $18.50 on this stock.

This stock has fluctuated between a low of $2.02 and a high of $6.28 over the last 52 weeks. Currently, Wall Street analysts expect the stock to reach $6.83 within the next 12 months. ESS Tech Inc. [NYSE: GWH] shares were valued at $2.49 at the most recent close of the market. An investor can expect a potential return of 174.3% based on the average GWH price forecast.

Analyzing the GWH fundamentals

Before buying any particular stock, readers tend to pay close attention to the indicators that support and create resistance. The company’s stock is currently sitting at 2.38 points at the first support level, and at 2.28 for the second support level. However, for the 1st resistance point, the stock is sitting at 2.58, and for the 2nd resistance point, it is at 2.68.

ESS Tech Inc. [GWH] reported earnings per share of -$0.1 for its fiscal quarter that ended on 6/29/2022. Based on the Wall Street analysts’ estimates, the company was expected to report earnings of -$0.15/share, meaning a difference of $0.05 and a surprise factor of 33.30%. By comparison, the stated earnings for the previous quarter ended on 3/30/2022 were -$0.04 per share as compared to estimates of -$0.14 per share, a difference of $0.1 representing a surprise of 71.40%.

Ratios To Look Out For

To put it in perspective, the Current Ratio for ESS Tech Inc. [NYSE:GWH] is 7.70. As well, the Quick Ratio is 18.02, while the Cash Ratio is 17.63.

Transactions by insiders

Insider trading has also been a hot topic recently, with 1 insiders purchasing 19,100 shares and 5 selling 128,906 shares in the past 3 months. Recent insider trading involved NIGGLI MICHAEL R, Director, that happened on Dec 15 when 19100.0 shares were purchased. Chief Executive Officer, Dresselhuys Eric P. completed a deal on Nov 21 to sell 14339.0 shares. Meanwhile, President Evans Craig E sold 6350.0 shares on Nov 21.