ESS Tech, Inc. (NYSE:GWH) Shares Sold by State Street Corp

State Street Corp trimmed its stake in ESS Tech, Inc. (NYSE:GWH - Free Report) by 94.6% during the third quarter, according to its most recent 13F filing with the SEC. The firm owned 16,538 shares of the company's stock after selling 291,685 shares during the period. State Street Corp owned about 0.14% of ESS Tech worth $105,000 as of its most recent filing with the SEC.

Several other large investors have also recently made changes to their positions in GWH. Point72 DIFC Ltd acquired a new position in ESS Tech during the 2nd quarter worth about $32,000. Point72 Asia Singapore Pte. Ltd. purchased a new position in shares of ESS Tech in the second quarter valued at approximately $148,000. AQR Capital Management LLC acquired a new position in shares of ESS Tech in the second quarter valued at approximately $84,000. Finally, Vanguard Personalized Indexing Management LLC purchased a new stake in ESS Tech during the 2nd quarter worth approximately $27,000. 46.77% of the stock is currently owned by institutional investors and hedge funds.

ESS Tech Price Performance

Shares of GWH stock traded up $0.27 during trading hours on Friday, hitting $6.34. The stock had a trading volume of 65,867 shares, compared to its average volume of 66,883. The firm has a market capitalization of $75.34 million, a PE ratio of -0.97 and a beta of 1.33. The stock's 50 day moving average is $6.31 and its 200 day moving average is $8.07. ESS Tech, Inc. has a twelve month low of $4.35 and a twelve month high of $17.56.

Analyst Ratings Changes

Several analysts have recently issued reports on GWH shares. Oppenheimer cut ESS Tech from an "outperform" rating to a "market perform" rating in a research note on Thursday, November 14th. Baird R W lowered shares of ESS Tech from a "strong-buy" rating to a "strong sell" rating in a research note on Thursday, November 14th. Canaccord Genuity Group reaffirmed a "hold" rating and set a $8.00 price objective on shares of ESS Tech in a research report on Thursday, November 14th. Finally, Robert W. Baird lowered ESS Tech from a "neutral" rating to an "underperform" rating and dropped their target price for the company from $14.00 to $9.00 in a report on Thursday, November 14th. Two investment analysts have rated the stock with a sell rating, four have assigned a hold rating, two have given a buy rating and one has given a strong buy rating to the company's stock. According to data from MarketBeat.com, the company currently has a consensus rating of "Hold" and an average target price of $14.58.

ESS Tech 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.