Green Alpha Advisors LLC Sells 186,315 Shares of ESS Tech, Inc. (NYSE:GWH)

Green Alpha Advisors LLC lowered its holdings in ESS Tech, Inc. (NYSE:GWH - Free Report) by 88.2% during the third quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The firm owned 25,025 shares of the company's stock after selling 186,315 shares during the quarter. Green Alpha Advisors LLC's holdings in ESS Tech were worth $158,000 at the end of the most recent quarter.

Other hedge funds have also recently added to or reduced their stakes in the company. Vanguard Personalized Indexing Management LLC acquired a new position in ESS Tech during the second quarter worth $27,000. Paloma Partners Management Co acquired a new stake in shares of ESS Tech during the first quarter worth approximately $27,000. SG Americas Securities LLC bought a new position in shares of ESS Tech in the first quarter valued at approximately $31,000. Point72 DIFC Ltd bought a new position in ESS Tech in the 2nd quarter valued at $32,000. Finally, CWM LLC bought a new stake in shares of ESS Tech during the second quarter worth $34,000. Institutional investors and hedge funds own 46.77% of the company's stock.

Analyst Ratings Changes

GWH has been the topic of several research analyst reports. TD Cowen decreased their price target on shares of ESS Tech from $2.00 to $1.50 and set a "buy" rating on the stock in a research note on Thursday, August 15th. Roth Mkm began coverage on ESS Tech in a research note on Friday, July 12th. They set a "buy" rating and a $1.50 price target on the stock. Canaccord Genuity Group dropped their price objective on ESS Tech from $1.25 to $1.00 and set a "hold" rating for the company in a report on Friday, August 16th. Deutsche Bank Aktiengesellschaft reduced their target price on shares of ESS Tech from $1.15 to $0.90 and set a "hold" rating on the stock in a research note on Friday, August 16th. Finally, Roth Capital upgraded shares of ESS Tech to a "strong-buy" rating in a report on Friday, July 12th. Three research analysts have rated the stock with a hold rating, three 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 "Moderate Buy" and an average price target of $1.45.

Insiders Place Their Bets

In related news, Director Sandeep Nijhawan sold 7,000 shares of the stock in a transaction that occurred on Wednesday, September 11th. The stock was sold at an average price of $5.72, for a total transaction of $40,040.00. Following the completion of the sale, the director now directly owns 15,537 shares of the company's stock, valued at approximately $88,871.64. This represents a 0.00 % decrease in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this link. Corporate insiders own 1.80% of the company's stock.

ESS Tech Trading Down 2.4 %

Shares of NYSE:GWH traded down $0.17 during mid-day trading on Tuesday, reaching $6.95. The stock had a trading volume of 44,678 shares, compared to its average volume of 65,075. The firm has a 50 day simple moving average of $4.16 and a two-hundred day simple moving average of $1.96. ESS Tech, Inc. has a twelve month low of $5.20 and a twelve month high of $31.65. The firm has a market cap of $1.22 billion, a PE ratio of -15.13 and a beta of 1.47.

ESS Tech (NYSE:GWH - Get Free Report) last posted its 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). ESS Tech had a negative return on equity of 77.52% and a negative net margin of 982.87%. The firm had revenue of $0.35 million during the quarter, compared to analyst estimates of $3.24 million. On average, equities analysts anticipate that ESS Tech, Inc. will post -6.72 EPS for the current fiscal year.

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.