Is ESS Tech, Inc. (GWH) Still a Buy After Softer Q1 Results and Lower Price Target?

We recently compiled a list of the 10 Popular Penny Stocks on Robinhood to Watch in 2026 . ESS Tech, Inc. (NYSE:GWH) is one of the popular penny stocks on Robinhood on this list.

TheFly reported on May 18 that Roth Capital reduced its price target on GWH from $2.50 to $2 while maintaining a Buy rating. The adjustment followed the company’s softer first-quarter results as GWH continues shifting toward commercialization of its Energy Base platform, although management pointed to ongoing strategic developments involving Project New Horizon alongside SRP and Google.

Moreover, the company’s growing commercial momentum was further reflected in a significant infrastructure achievement announced on May 5, 2026. ESS Tech, Inc. (NYSE:GWH) revealed that it had completed the commissioning of two iron flow battery systems for Turlock Irrigation District in California’s Central Valley. The installation combines ESS’s long-duration energy storage technology with solar panels positioned above irrigation canals, creating a dual-purpose system aimed at producing renewable electricity while limiting water evaporation. The project highlights the expanding role of long-duration storage in supporting utility and infrastructure operations that require dependable and flexible energy delivery.

GWH stated that the deployment demonstrates how its iron flow battery systems can improve renewable energy management while contributing to broader conservation efforts. The initiative also reflects increasing interest among utilities and water agencies in integrated energy and water solutions. GWH’s technology relies on iron, salt, and water materials designed for safe stationary energy storage applications.

ESS Tech, Inc. (NYSE:GWH) is a clean-energy company that develops long-duration iron flow batteries for commercial and utility-scale energy storage.

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