The six-month cure window means no immediate delisting, but the stock is trading below $1.00 with $24M market cap and insider selling. The reverse split likely needed to trigger massive mechanical dilution if the stock stays weak. Monitor for reverse split announcement and any SEC filing on compliance plan. Probability of ultimately regaining compliance is low given fundamentals.
Price Chart
Executive Summary
ESS Tech received an NYSE continued listing standard notice because its 30-day average closing share price fell to $0.98, below the $1.00 minimum. The company has a six-month cure period and is considering a reverse stock split. This is a deficiency notice, not an immediate delisting, but it signals severe equity distress for a micro-cap ($24M) energy storage company.
Key Facts
- NYSE notice received June 9, 2026 for non-compliance with Section 802.01C ($1.00 minimum bid price)
- 30-day average closing share price as of June 8, 2026: $0.98
- Six-month cure period to regain compliance by reaching $1.00 closing price and 30-day average
- Company considering a reverse stock split to cure the deficiency
- Market cap of $24M, micro-cap with low institutional ownership and recent insider selling ($8K in 4 sells over 30d)
- No assurance of regaining compliance during cure period or any extension
Financial Impact
NYSE deficiency notice does not directly change financials, but delisting risk severely impairs liquidity and institutional ownership. Current market cap is $24M.
Risk Factors
- Failure to regain compliance within six months could lead to suspension and delisting from NYSE
- Reverse stock split would be a negative signal and could accelerate selling if not accompanied by operational turnaround
- Continuing low share price may trigger warrant exercise overhang (warrants at $172.50 exercise price, effectively out-of-the-money and useless)
Market Snapshot
Investment Themes
Documents Analyzed
This report is based on 5 SEC documents filed with EDGAR.
| Document | Accession Number |
|---|---|
| 8-K Filing (Primary) | 0001819438-26-000044 |
| Document: esspressrelease2026nysedef.htm | 0001819438-26-000044 |
| Document: 0001819438-26-000044-index-headers.html | 0001819438-26-000044 |
| Document: 0001819438-26-000044-index.html | 0001819438-26-000044 |
| Document: 0001819438-26-000044.txt | 0001819438-26-000044 |
Filters
| Type | Now | ||||
|---|---|---|---|---|---|
Aug 21, 2026 6w ago | 424B5 | $0.4047 $0.3504 | ▲ +13.42% | ▲ +13.89% | $0.1570 (+61.21%) |
Jul 2, 2026 13w ago | 25-NSE | $0.8630 $0.8244 | ▲ +4.47% | ▲ +5.40% | $0.1570 (+81.81%) |
Jun 15, 2026 15w ago | 8-K | $0.8000 $0.7401 | ▲ +7.49% | ▲ +6.10% | $0.1570 (+80.37%) |
May 26, 2026 18w ago | Insider Cluster | $0.9840 $0.9800 | ▼ −0.41% | ▼ −1.61% | $0.1570 (−84.04%) |
May 26, 2026 18w ago | Insider Cluster | $0.9840 $0.9800 | ▼ −0.41% | ▼ −1.61% | $0.1570 (−84.04%) |
May 26, 2026 18w ago | Insider Cluster | $0.9840 $0.9200 | ▼ −6.50% | ▼ −6.97% | $0.1570 (−84.04%) |
May 7, 2026 21w ago | 8-K | $0.0156 $0.0125 | ▲ +19.87% | ▲ +21.34% | $0.1570 (−906.41%) |
Apr 15, 2026 24w ago | DEFA14A | — | awaiting T+5 | — | — |
Apr 15, 2026 24w ago | 8-K | — | awaiting T+5 | — | — |
Mar 5, 2026 30w ago | 8-K | $1.30 $1.27 | ▼ −2.31% | ▼ −0.78% | $0.1570 (−87.92%) |
US Market Status
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