ESS Tech, Inc. (NYSE:GWH - Get Free Report)'s share price was up 6.9% during trading on Monday . The stock traded as high as $8.52 and last traded at $8.39. Approximately 66,747 shares changed hands during mid-day trading, an increase of 3% from the average daily volume of 64,780 shares. The stock had previously closed at $7.85.
Wall Street Analysts Forecast Growth
Several equities research analysts have commented on GWH shares. Canaccord Genuity Group lowered their price objective on ESS Tech from $1.25 to $1.00 and set a "hold" rating on the stock in a research report on Friday, August 16th. Roth Mkm assumed coverage on ESS Tech in a research report on Friday, July 12th. They set a "buy" rating and a $1.50 target price on the stock. Deutsche Bank Aktiengesellschaft decreased their target price on ESS Tech from $1.15 to $0.90 and set a "hold" rating on the stock in a research report on Friday, August 16th. Roth Capital upgraded ESS Tech to a "strong-buy" rating in a research report on Friday, July 12th. Finally, TD Cowen decreased their target price on ESS Tech from $2.00 to $1.50 and set a "buy" rating on the stock in a research report on Thursday, August 15th. Three equities research analysts have rated the stock with a hold rating, three have assigned a buy rating and one has issued a strong buy rating to the company's stock. According to MarketBeat, the stock currently has a consensus rating of "Moderate Buy" and an average price target of $1.45.
Get Our Latest Stock Report on GWH
ESS Tech Trading Up 5.5 %
The firm has a fifty day moving average price of $4.68 and a 200 day moving average price of $2.14. The firm has a market cap of $1.45 billion, a PE ratio of -18.62 and a beta of 1.47.
ESS Tech (NYSE:GWH - Get Free Report) last posted its quarterly earnings results on Wednesday, August 14th. The company reported ($1.80) EPS for the quarter, missing the consensus estimate of ($1.65) by ($0.15). The company had revenue of $0.35 million for the quarter, compared to analysts' expectations of $3.24 million. ESS Tech had a negative return on equity of 77.52% and a negative net margin of 982.87%. As a group, equities analysts predict that ESS Tech, Inc. will post -6.72 earnings per share for the current year.
Insider Activity at ESS Tech
In related news, Director Sandeep Nijhawan sold 7,000 shares of the business's stock in a transaction dated Wednesday, September 11th. The shares were sold at an average price of $5.72, for a total value of $40,040.00. Following the sale, the director now directly owns 15,537 shares in the company, valued at approximately $88,871.64. The trade was a 0.00 % decrease in their position. The sale was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this link. 1.80% of the stock is owned by insiders.
Hedge Funds Weigh In On ESS Tech
Several institutional investors have recently bought and sold shares of the company. Point72 DIFC Ltd acquired a new position in shares of ESS Tech during the second quarter worth about $32,000. Point72 Asia Singapore Pte. Ltd. acquired a new position in shares of ESS Tech during the second quarter worth about $148,000. AQR Capital Management LLC acquired a new position in shares of ESS Tech during the second quarter worth about $84,000. Vanguard Personalized Indexing Management LLC acquired a new position in ESS Tech in the second quarter valued at approximately $27,000. Finally, CWM LLC acquired a new position in ESS Tech in the second quarter valued at approximately $34,000. 46.77% of the stock is owned by institutional investors and hedge funds.
About ESS Tech
(
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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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