ESS Tech, Inc. (NYSE:GWH - Get Free Report) was the target of a large increase in short interest in December. As of December 31st, there was short interest totalling 384,100 shares, an increase of 8.3% from the December 15th total of 354,700 shares. Approximately 7.6% of the company's stock are sold short. Based on an average trading volume of 95,400 shares, the short-interest ratio is currently 4.0 days.
Institutional Investors Weigh In On ESS Tech
A number of large investors have recently bought and sold shares of GWH. Vanguard Personalized Indexing Management LLC acquired a new stake in shares of ESS Tech in the 2nd quarter valued at approximately $27,000. Point72 DIFC Ltd acquired a new position in shares of ESS Tech during the second quarter worth $32,000. AQR Capital Management LLC acquired a new stake in ESS Tech in the second quarter valued at $84,000. Finally, Point72 Asia Singapore Pte. Ltd. bought a new position in ESS Tech during the 2nd quarter worth $148,000. 46.77% of the stock is currently owned by institutional investors and hedge funds.
Analyst Ratings Changes
A number of research analysts have commented on GWH shares. Robert W. Baird downgraded ESS Tech from a "neutral" rating to an "underperform" rating and lowered their target price for the company from $14.00 to $9.00 in a research note on Thursday, November 14th. Oppenheimer downgraded shares of ESS Tech from an "outperform" rating to a "market perform" rating in a research report on Thursday, November 14th. Canaccord Genuity Group restated a "hold" rating and set a $8.00 price target on shares of ESS Tech 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 research report on Thursday, November 14th. Two equities research analysts have rated the stock with a sell rating, four have issued a hold rating, two have assigned a buy rating and one has given a strong buy rating to the stock. According to data from MarketBeat.com, the company has a consensus rating of "Hold" and an average target price of $14.58.
View Our Latest Stock Report on GWH
ESS Tech Trading Up 3.9 %
Shares of NYSE:GWH traded up $0.22 during trading on Monday, reaching $5.73. 123,666 shares of the stock were exchanged, compared to its average volume of 83,823. The stock has a 50-day moving average price of $5.82 and a 200-day moving average price of $7.62. ESS Tech has a 12 month low of $4.35 and a 12 month high of $17.56. The firm has a market cap of $68.01 million, a PE ratio of -0.87 and a beta of 1.32.
ESS Tech Company Profile
(
Get 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.
See Also
Before you consider ESS Tech, you'll want to hear this.
MarketBeat keeps track of Wall Street's top-rated and best performing research analysts and the stocks they recommend to their clients on a daily basis. MarketBeat has identified the five stocks that top analysts are quietly whispering to their clients to buy now before the broader market catches on... and ESS Tech wasn't on the list.
While ESS Tech currently has a "Hold" rating among analysts, top-rated analysts believe these five stocks are better buys.
View The Five Stocks Here
Thinking about investing in Meta, Roblox, or Unity? Enter your email to learn what streetwise investors need to know about the metaverse and public markets before making an investment.
Get This Free Report
Like this article? Share it with a colleague.
Link copied to clipboard.
