ESS Tech Inc (GWH)
NYSEIndustrialsElectrical Equipment & PartsSnapshot 2026-09-04
$0.34+1.45%
Close 2026-09-04 · 1-day change
NYSEIndustrialsElectrical Equipment & PartsSnapshot 2026-09-04
QuarterlyIQ Insights · GWH
What must go right, what could break, what the price assumes, and what evidence comes next.
The current health of the standing investment case.
Recent financial performance sits well below its industry cohort — worth keeping an eye on, though it has not freshly broken.
One-year growth currently built into the price, compared with our model's estimate.
| Measure | Marker shape | Value |
|---|---|---|
| Growth built into the price | circle | 18.3% |
| Our one-year growth estimate | diamond | -60.0% |
For each item: what to watch, what would become a concern, and what would make it less concerning.
A reporting-risk estimate, not a forecast of the stock-price response.
Historical relationships that met the evidence threshold. They do not prove cause or forecast a move.
No outside relationship met the current evidence threshold.
Based on historical daily prices through 2026-09-04.
Past price behavior in dollars on a $10,000 position. This does not measure permanent business risk.
How much price usually moves either way.
Use the underlying financial and sector pages to investigate the cause.
Not investment advice. Scores describe historical and current data; they are not forecasts of future returns. Consult a licensed advisor before making investment decisions.
Growth built into the price is above our model estimate.
The price assumes 78.3 percentage points more one-year growth.
The one-year revenue growth assumption on Valuation.
Elevated risk of a next-quarter earnings miss: this name is a smaller-cap name (higher miss base rate) and has been missing across recent quarters. A fundamental tilt, not a price call.
Model as of 2026-09-04 · Compared with 32 industry peers · Company calendar date is not available
GWH — debt issuance
Dated 2026-08-21
Entry into a Material Definitive Agreement On August 20, 2026, ESS Tech, Inc. (the “ Company ”) entered into a securities purchase agreement (the “ Purchase Agreement ”) with certain institutional investors identified on the signature pages thereto (the “ Purchasers ”) pursuant to which the Company agreed to issue and sell in a registered direct offering registered under the Securities Act of 1933, as amended (the “ Securities Act ”), an aggregate of 6,400,000 shares (the “ Shares ”) of the C…
Why it matters: Regaining compliance is vital for ESS to maintain its NYSE listing. Failure to comply could lead to delisting and impact investor confidence.
Worry ifThe average closing share price goes above $1.00 for 30 trading days in a row.
Less concerning ifAverage closing share price remains below $1.00 at the end of the cure period.
Why it matters: Delisting risk affects stock value. Progress here can improve investor confidence.
Supportive ifManagement announces a plan to meet NYSE listing standards by raising the stock price above $1.00.
Worry ifFurther notices from the NYSE regarding failure to meet listing standards.
Why it matters: Regaining compliance with NYSE standards is crucial for maintaining the stock's listing. Failure to do so could lead to delisting.
Supportive ifAverage closing share price reaches or exceeds $1.00 for a consecutive 30-day period.
Worry ifAverage closing share price remains below $1.00 for the duration of the cure period.
Why it matters: Progress with Salt River Project and Google could improve ESS's market position.
Supportive ifWatch for good pilot results or contract extensions for Project New Horizon.
Worry ifNo updates or delays on Project New Horizon in the next quarter.
We watch for confirming and disproving signals on each item. Resolutions are found automatically where possible and checked by hand for unclear cases. Last 90 days shown.
A larger daily loss that occurred about once in every 20 trading days.
Deepest peak-to-trough drop in the last year.
| Measure | Value | Meaning |
|---|---|---|
| Typical day | ±$393 on $10,000 · ±3.9% | How much price usually moves either way. |
| Bad day | $1,056 loss on $10,000 · 10.6% | A larger daily loss that occurred about once in every 20 trading days. |
| Largest peak-to-trough drop in the past year | $9,641 loss on $10,000 · 96.4% | Deepest peak-to-trough drop in the last year. |
Past year. 1.00 means similar movement; 1.20 means about 20% more.
Past year. 1.00 means similar movement to the sector. This is secondary context.
Latest 30 trading days, shown as an annual percentage.
Latest 252 trading days, shown as an annual percentage.
20-trading-day average in US dollars.
Trading days used by the source risk snapshot.
Past results, not a forecast. Not investment advice.
Why it matters: Regaining compliance is key to avoid delisting and keep investor trust.
Worry ifESS gets confirmation of compliance with NYSE listing rules.
Less concerning ifMore notices or actions from the NYSE about delisting.
Why it matters: If the sector's revenue growth speeds up, it could help ESS Tech improve its performance. This is crucial for its recovery.
Supportive ifSector revenue growth exceeds 5% year over year.
Worry ifSector revenue growth remains below 5% year over year.
Why it matters: Regaining compliance with NYSE standards is crucial for maintaining its listing. A higher stock price would show improved market confidence.
Supportive ifESS's stock price is over $1.00 for 30 trading days in a row.
Worry ifThe average closing price is below $1.00 for 30 trading days in a row.
Why it matters: Closing this offering will give cash for operations and growth.
Supportive ifThe offering closes on or before August 21, 2026, with funds received.
Worry ifThe offering fails to close as planned or is delayed significantly.
Why it matters: Delisting risk can hurt the company's stock. Progress may help keep investors confident.
Supportive ifThe company gets no more NYSE notices about listing rules.
Worry ifThe company gets more NYSE notices about not meeting listing rules.
Why it matters: Earnings results will show if the company is making more money.
Watch forQ2 earnings report shows a smaller operating loss than the $13.8 million in Q1 2026.
Also watch forQ2 earnings report shows a larger operating loss than $13.8 million.
Why it matters: Revenue growth is crucial for ESS to show it can recover from recent declines. Positive growth would indicate progress in commercial activities.
Supportive ifQ2 2026 revenue shows growth compared to Q1 2026 revenue of $128,000.
Worry ifQ2 2026 revenue declines or stays below $128,000.
Why it matters: Strong customer interest in sodium-ion batteries could drive revenue growth. This aligns with ESS's goal to capture high-demand markets.
Supportive ifESS has new contracts or partnerships for sodium-ion batteries. These are worth more than $500 million.
Worry ifNo new contracts or partnerships are announced. Customer interest is dropping.
Why it matters: A signed agreement would show a $515 million value and growth potential.
Supportive ifA press release will announce when the deal is signed.
Worry ifFailure to sign a definitive agreement by the end of Q4 2026.
Why it matters: Using the Bridge™ system could prove ESS's market plan and increase revenue.
Supportive ifAnnouncement of the first operational Bridge™ product by the end of 2026.
Worry ifDelay in the rollout of the Bridge™ system beyond 2026.
Why it matters: Managing expenses well is important for better cash flow and financial health.
Supportive ifOperating expenses drop by at least 10% each quarter.
Worry ifOperating expenses go up or stay the same each quarter.