ESS Tech (GWH, Financial) reported its first-quarter revenue at $599,000, falling significantly short of the anticipated $3.45 million. The company is strategically moderating its activities during the first half of 2025 to effectively manage liquidity and support capital-raising initiatives. This is part of a broader turnaround and strategic shift announced last quarter.
ESS Tech is optimistic about the commercial traction generated by its Energy Base launch, which has led to the awarding of a 50 MWh project currently in the contracting phase. Additionally, the company's extended duration product has prompted substantial proposal activity, with submissions totaling around 1.2 GWh over the past two quarters.
The ongoing operations of two systems at Portland General Electric continue to produce valuable insights, generating 158 MWh in energy through daily cycling. These operations provide ESS with practical experience in managing commercial-scale systems on its premises. The company remains committed to seeking strategies to extend its operational runway amid a challenging capital market environment.
Wall Street Analysts Forecast
Based on the one-year price targets offered by 4 analysts, the average target price for ESS Tech Inc (GWH, Financial) is $3.75 with a high estimate of $6.00 and a low estimate of $3.00. The average target implies an upside of 46.48% from the current price of $2.56. More detailed estimate data can be found on the ESS Tech Inc (GWH) Forecast page.
Based on the consensus recommendation from 4 brokerage firms, ESS Tech Inc's (GWH, Financial) average brokerage recommendation is currently 3.0, indicating "Hold" status. The rating scale ranges from 1 to 5, where 1 signifies Strong Buy, and 5 denotes Sell.
Based on GuruFocus estimates, the estimated GF Value for ESS Tech Inc (GWH, Financial) in one year is $22.29, suggesting a upside of 770.7% from the current price of $2.56. GF Value is GuruFocus' estimate of the fair value that the stock should be traded at. It is calculated based on the historical multiples the stock has traded at previously, as well as past business growth and the future estimates of the business' performance. More detailed data can be found on the ESS Tech Inc (GWH) Summary page.
