ESS Tech, Inc. (NYSE:GWH) Short Interest Update

ESS Tech, Inc. (NYSE:GWHGet Free Report) was the target of a large growth in short interest in the month of May. As of May 31st, there was short interest totalling 10,230,000 shares, a growth of 17.7% from the May 15th total of 8,690,000 shares. Based on an average trading volume of 835,300 shares, the short-interest ratio is presently 12.2 days. Approximately 18.0% of the shares of the company are short sold.

ESS Tech Price Performance

Shares of NYSE:GWH opened at $0.77 on Tuesday. ESS Tech has a one year low of $0.61 and a one year high of $2.12. The firm has a market capitalization of $134.11 million, a price-to-earnings ratio of -1.70 and a beta of 1.50. The company’s fifty day moving average price is $0.75 and its 200-day moving average price is $0.89.

ESS Tech (NYSE:GWHGet Free Report) last released its earnings results on Tuesday, May 7th. The company reported ($0.10) EPS for the quarter, beating analysts’ consensus estimates of ($0.13) by $0.03. ESS Tech had a negative return on equity of 73.08% and a negative net margin of 746.89%. The business had revenue of $2.74 million for the quarter, compared to analysts’ expectations of $3.21 million. As a group, equities research analysts expect that ESS Tech will post -0.42 EPS for the current year.

Analyst Upgrades and Downgrades

Several equities research analysts have recently weighed in on GWH shares. TD Cowen decreased their price target on ESS Tech from $2.50 to $2.00 and set a “buy” rating on the stock in a research report on Wednesday, May 8th. Canaccord Genuity Group decreased their price target on ESS Tech from $1.75 to $1.25 and set a “hold” rating on the stock in a research report on Thursday, March 14th. Chardan Capital decreased their price target on ESS Tech from $1.90 to $0.80 and set a “neutral” rating on the stock in a research report on Friday, March 15th. Finally, Robert W. Baird decreased their price target on ESS Tech from $4.00 to $3.00 and set an “outperform” rating on the stock in a research report on Thursday, March 14th.

Check Out Our Latest Stock Report on GWH

Insider Activity at ESS Tech

In other news, Director Harry Quarls acquired 42,690 shares of the stock in a transaction that occurred on Thursday, May 9th. The shares were acquired at an average cost of $0.84 per share, for a total transaction of $35,859.60. Following the purchase, the director now owns 366,146 shares of the company’s stock, valued at approximately $307,562.64. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available through this link. 1.80% of the stock is currently owned by company insiders.

Hedge Funds Weigh In On ESS Tech

Several institutional investors have recently modified their holdings of the company. Invesco Ltd. grew its holdings in shares of ESS Tech by 81.2% during the 3rd quarter. Invesco Ltd. now owns 5,009,904 shares of the company’s stock valued at $9,419,000 after purchasing an additional 2,245,124 shares during the last quarter. Vanguard Group Inc. grew its holdings in shares of ESS Tech by 6.9% during the 1st quarter. Vanguard Group Inc. now owns 3,263,849 shares of the company’s stock valued at $2,361,000 after purchasing an additional 212,070 shares during the last quarter. Green Alpha Advisors LLC grew its holdings in shares of ESS Tech by 11.7% during the 1st quarter. Green Alpha Advisors LLC now owns 219,440 shares of the company’s stock valued at $159,000 after purchasing an additional 23,022 shares during the last quarter. Ardsley Advisory Partners LP bought a new position in shares of ESS Tech during the 3rd quarter valued at $376,000. Finally, Healthcare of Ontario Pension Plan Trust Fund grew its holdings in shares of ESS Tech by 9.6% during the 3rd quarter. Healthcare of Ontario Pension Plan Trust Fund now owns 132,302 shares of the company’s stock valued at $249,000 after purchasing an additional 11,616 shares during the last quarter. 46.77% of the stock is currently owned by institutional investors.

About ESS Tech

(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.

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