ESS Tech, Inc. (NYSE:GWH) Short Interest Up 8.3% in January

ESS Tech, Inc. (NYSE:GWH - Get Free Report) saw a large growth in short interest in the month of January. As of January 15th, there was short interest totalling 384,100 shares, a growth of 8.3% from the December 31st total of 354,700 shares. Currently, 7.6% of the shares of the company are short sold. Based on an average daily volume of 95,400 shares, the short-interest ratio is presently 4.0 days.

Analysts Set New Price Targets

Several equities analysts have recently issued reports on the company. Canaccord Genuity Group reissued a "hold" rating and issued a $8.00 price objective on shares of ESS Tech in a report on Thursday, November 14th. Robert W. Baird lowered ESS Tech from a "neutral" rating to an "underperform" rating and lowered their price objective for the stock from $14.00 to $9.00 in a research report on Thursday, November 14th. Oppenheimer lowered shares of ESS Tech from an "outperform" rating to a "market perform" rating in a report on Thursday, November 14th. Finally, Baird R W downgraded shares of ESS Tech from a "strong-buy" rating to a "strong sell" rating in a report on Thursday, November 14th. Two equities research analysts have rated the stock with a sell rating, four have assigned a hold rating, two have issued a buy rating and one has issued a strong buy rating to the company. Based on data from MarketBeat.com, the company presently has a consensus rating of "Hold" and a consensus price target of $14.58.

Institutional Trading of ESS Tech

An institutional investor recently bought a new position in ESS Tech stock. AQR Capital Management LLC bought a new position in shares of ESS Tech, Inc. (NYSE:GWH - Free Report) during the 2nd quarter, according to the company in its most recent disclosure with the SEC. The fund bought 102,262 shares of the company's stock, valued at approximately $84,000. AQR Capital Management LLC owned about 0.06% of ESS Tech as of its most recent SEC filing. Hedge funds and other institutional investors own 46.77% of the company's stock.

ESS Tech Stock Performance

ESS Tech stock traded down $0.29 during trading on Friday, reaching $5.16. The company had a trading volume of 87,124 shares, compared to its average volume of 63,869. The firm has a market capitalization of $61.30 million, a PE ratio of -0.79 and a beta of 1.31. The firm's 50-day simple moving average is $5.54 and its 200 day simple moving average is $6.96. ESS Tech has a 1-year low of $4.35 and a 1-year high of $15.90.

About ESS Tech

ESS Tech, Inc, an energy storage company, designs and produces iron flow batteries for commercial and utility-scale energy storage applications worldwide. It offers energy storage products, which include Energy Warehouse, a behind-the-meter solution; and Energy Center, a front-of-the-meter solution. The company was founded in 2011 and is headquartered in Wilsonville, Oregon.