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Geode Capital Management LLC Reduces Stock Position in ESS Tech, Inc. (NYSE:GWH)

ESS Tech logo with Computer and Technology background

Geode Capital Management LLC cut its holdings in ESS Tech, Inc. (NYSE:GWH - Free Report) by 94.2% during the 3rd quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The fund owned 50,451 shares of the company's stock after selling 820,159 shares during the quarter. Geode Capital Management LLC owned approximately 0.43% of ESS Tech worth $319,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

A number of other hedge funds also recently bought and sold shares of the business. Point72 Asia Singapore Pte. Ltd. purchased a new stake in shares of ESS Tech in the 2nd quarter worth about $148,000. AQR Capital Management LLC bought a new stake in ESS Tech during the 2nd quarter valued at approximately $84,000. Point72 DIFC Ltd purchased a new position in shares of ESS Tech during the 2nd quarter worth approximately $32,000. Finally, Vanguard Personalized Indexing Management LLC bought a new position in shares of ESS Tech in the 2nd quarter worth approximately $27,000. Hedge funds and other institutional investors own 46.77% of the company's stock.

Wall Street Analysts Forecast Growth

Several equities research analysts recently weighed in on the company. Baird R W cut ESS Tech from a "strong-buy" rating to a "strong sell" rating in a research note on Thursday, November 14th. Oppenheimer lowered shares of ESS Tech from an "outperform" rating to a "market perform" rating in a research note on Thursday, November 14th. Robert W. Baird lowered shares of ESS Tech from a "neutral" rating to an "underperform" rating and dropped their price objective for the stock from $14.00 to $9.00 in a research note on Thursday, November 14th. Finally, Canaccord Genuity Group reaffirmed a "hold" rating and set a $8.00 target price on shares of ESS Tech in a research note on Thursday, November 14th. Two investment 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 stock. According to data from MarketBeat.com, the stock presently has an average rating of "Hold" and a consensus target price of $14.58.

Check Out Our Latest Stock Analysis on ESS Tech

ESS Tech Price Performance

NYSE GWH traded up $0.03 during mid-day trading on Tuesday, reaching $5.15. The stock had a trading volume of 38,725 shares, compared to its average volume of 69,016. The stock has a market cap of $61.20 million, a PE ratio of -0.79 and a beta of 1.32. ESS Tech, Inc. has a 1 year low of $4.35 and a 1 year high of $17.56. The company has a fifty day moving average price of $6.07 and a 200 day moving average price of $7.80.

About ESS Tech

(Free Report)

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.

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Institutional Ownership by Quarter for ESS Tech (NYSE:GWH)

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