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Strength Seen in ESS Tech (GWH): Can Its 117.6% Jump Turn into More Strength?
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ESS Tech, Inc. (GWH - Free Report) shares ended the last trading session 117.6% higher at $9.05. The jump came on an impressive volume with a higher-than-average number of shares changing hands in the session. This compares to the stock's 195% gain over the past four weeks.
ESS Tech is benefiting from its proprietary iron flow battery technology, cost reduction efforts, and strong demand for long-duration energy storage solutions.
This company is expected to post quarterly loss of $0.74 per share in its upcoming report, which represents a year-over-year change of +61.1%. Revenues are expected to be $1.3 million, up 261.1% from the year-ago quarter.
While earnings and revenue growth expectations are important in evaluating the potential strength in a stock, empirical research shows a strong correlation between trends in earnings estimate revisions and near-term stock price movements.
For ESS Tech, the consensus EPS estimate for the quarter has remained unchanged over the last 30 days. And a stock's price usually doesn't keep moving higher in the absence of any trend in earnings estimate revisions. So, make sure to keep an eye on GWH going forward to see if this recent jump can turn into more strength down the road.
ESS Tech belongs to the Zacks Electronics - Miscellaneous Products industry. Another stock from the same industry, Mistras (MG - Free Report) , closed the last trading session 1.5% higher at $9.53. Over the past month, MG has returned -1%.
Mistras' consensus EPS estimate for the upcoming report has remained unchanged over the past month at $0.26. Compared to the company's year-ago EPS, this represents a change of +30%. Mistras currently boasts a Zacks Rank of #3 (Hold).
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Strength Seen in ESS Tech (GWH): Can Its 117.6% Jump Turn into More Strength?
ESS Tech, Inc. (GWH - Free Report) shares ended the last trading session 117.6% higher at $9.05. The jump came on an impressive volume with a higher-than-average number of shares changing hands in the session. This compares to the stock's 195% gain over the past four weeks.
ESS Tech is benefiting from its proprietary iron flow battery technology, cost reduction efforts, and strong demand for long-duration energy storage solutions.
This company is expected to post quarterly loss of $0.74 per share in its upcoming report, which represents a year-over-year change of +61.1%. Revenues are expected to be $1.3 million, up 261.1% from the year-ago quarter.
While earnings and revenue growth expectations are important in evaluating the potential strength in a stock, empirical research shows a strong correlation between trends in earnings estimate revisions and near-term stock price movements.
For ESS Tech, the consensus EPS estimate for the quarter has remained unchanged over the last 30 days. And a stock's price usually doesn't keep moving higher in the absence of any trend in earnings estimate revisions. So, make sure to keep an eye on GWH going forward to see if this recent jump can turn into more strength down the road.
The stock currently carries a Zacks Rank #3 (Hold). You can see the complete list of today's Zacks Rank #1 (Strong Buy) stocks here >>>>
ESS Tech belongs to the Zacks Electronics - Miscellaneous Products industry. Another stock from the same industry, Mistras (MG - Free Report) , closed the last trading session 1.5% higher at $9.53. Over the past month, MG has returned -1%.
Mistras' consensus EPS estimate for the upcoming report has remained unchanged over the past month at $0.26. Compared to the company's year-ago EPS, this represents a change of +30%. Mistras currently boasts a Zacks Rank of #3 (Hold).