ESS Tech Secures New Orders and Seeks Financing

ESS Tech ( (GWH) ) has provided an announcement.

ESS Tech, Inc. has closed additional orders for its Energy Warehouse and Energy Center products as part of its inventory movement strategy, alongside its first core component sale for the Energy Base product. These transactions, expected to generate approximately $2.5 million in revenue and $1 million from Advanced Manufacturing Production Tax Credits in the second quarter, will enhance the company’s cash position but require further funding to continue operations. The company is actively seeking additional financing options, though there is no guarantee of success.

The most recent analyst rating on (GWH) stock is a Buy with a $1.50 price target. To see the full list of analyst forecasts on ESS Tech stock, see the GWH Stock Forecast page.

Spark’s Take on GWH Stock

According to Spark, TipRanks’ AI Analyst, GWH is a Neutral.

ESS Tech’s overall stock score is primarily impacted by its weak financial performance and valuation, compounded by negative corporate events. While technical indicators and earnings call sentiment offer some stability, the pervasive financial challenges and compliance issues significantly weigh down the score.

To see Spark’s full report on GWH stock, click here.

More about ESS Tech

ESS Tech, Inc. operates in the energy storage industry, focusing on providing innovative energy storage solutions such as the Energy Warehouse and Energy Center products, with a market focus on advancing energy storage technologies.

Average Trading Volume: 732,395

Technical Sentiment Signal: Sell

Current Market Cap: $17.07M

See more data about GWH stock on TipRanks’ Stock Analysis page.