180,370 Shares in ESS Tech, Inc. (NYSE:GWH) Bought by Point72 Asia Singapore Pte. Ltd.

Point72 Asia Singapore Pte. Ltd. purchased a new stake in shares of ESS Tech, Inc. (NYSE:GWH - Free Report) during the 2nd quarter, according to the company in its most recent 13F filing with the Securities & Exchange Commission. The firm purchased 180,370 shares of the company's stock, valued at approximately $148,000. Point72 Asia Singapore Pte. Ltd. owned 0.10% of ESS Tech at the end of the most recent quarter.

Several other institutional investors and hedge funds have also recently made changes to their positions in the company. Vanguard Group Inc. lifted its holdings in ESS Tech by 6.9% during the first quarter. Vanguard Group Inc. now owns 3,263,849 shares of the company's stock worth $2,361,000 after buying an additional 212,070 shares during the period. SG Americas Securities LLC bought a new position in shares of ESS Tech in the 1st quarter worth $31,000. CWM LLC purchased a new stake in shares of ESS Tech during the 2nd quarter worth $34,000. Point72 DIFC Ltd bought a new stake in ESS Tech during the second quarter valued at about $32,000. Finally, Vanguard Personalized Indexing Management LLC purchased a new position in ESS Tech in the second quarter valued at about $27,000. 46.77% of the stock is currently owned by institutional investors.

Analyst Upgrades and Downgrades

A number of analysts have recently weighed in on GWH shares. Roth Mkm initiated coverage on shares of ESS Tech in a report on Friday, July 12th. They issued a "buy" rating and a $1.50 price target on the stock. TD Cowen cut their price target on shares of ESS Tech from $2.00 to $1.50 and set a "buy" rating on the stock in a report on Thursday, August 15th. Canaccord Genuity Group reduced their price target 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 Capital raised ESS Tech to a "strong-buy" rating in a research report on Friday, July 12th. Finally, Deutsche Bank Aktiengesellschaft dropped their target price on ESS Tech from $1.15 to $0.90 and set a "hold" rating on the stock in a research note on Friday, August 16th. Three equities research analysts have rated the stock with a hold rating, three have given a buy rating and one has issued a strong buy rating to the stock. Based on data from MarketBeat.com, the stock currently has a consensus rating of "Moderate Buy" and an average price target of $1.45.

ESS Tech Trading Up 3.8 %

Shares of NYSE:GWH traded up $0.24 on Friday, hitting $6.51. 48,911 shares of the company were exchanged, compared to its average volume of 65,108. The stock's 50 day moving average price is $4.03 and its 200 day moving average price is $1.90. ESS Tech, Inc. has a 1-year low of $5.20 and a 1-year high of $31.65. The firm has a market capitalization of $1.14 billion, a P/E ratio of -14.47 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) earnings per share for the quarter, missing the consensus estimate of ($1.65) by ($0.15). The firm had revenue of $0.35 million for the quarter, compared to analysts' expectations of $3.24 million. ESS Tech had a negative net margin of 982.87% and a negative return on equity of 77.52%. On average, equities analysts predict that ESS Tech, Inc. will post -6.72 EPS for the current fiscal year.

Insider Activity at ESS Tech

In other ESS Tech news, Director Sandeep Nijhawan sold 7,000 shares of the firm's stock in a transaction that occurred on Wednesday, September 11th. The shares were sold at an average price of $5.72, for a total transaction of $40,040.00. Following the completion of the transaction, the director now directly owns 15,537 shares of the company's stock, valued at approximately $88,871.64. This trade represents a 0.00 % decrease in their position. The transaction was disclosed in a filing with the SEC, which can be accessed through this link. 1.80% of the stock is owned by insiders.

ESS Tech Company Profile

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.