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

ESS Tech, Inc. (NYSE:GWH) saw a significant increase in short interest in the month of 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. Based on an average daily volume of 95,400 shares, the days-to-cover ratio is presently 4.0 days. Approximately 7.6% of the shares of the company are sold short.

Institutional Investors Weigh In On ESS Tech

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

Analyst Upgrades and Downgrades

A number of equities research analysts have issued reports on the stock. Oppenheimer downgraded shares of ESS Tech from an “outperform” rating to a “market perform” rating in a report on Thursday, November 14th. Robert W. Baird downgraded shares of ESS Tech from a “neutral” rating to an “underperform” rating and reduced their price target for the stock from $14.00 to $9.00 in a research report on Thursday, November 14th. Canaccord Genuity Group reaffirmed a “hold” rating and issued a $8.00 target price on shares of ESS Tech in a research note on Thursday, November 14th. Finally, Baird R W cut shares of ESS Tech from a “strong-buy” rating to a “strong sell” rating in a research note on Thursday, November 14th. Two 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 issued a strong buy rating to the stock. Based on data from MarketBeat.com, the stock has a consensus rating of “Hold” and an average target price of $14.58.

ESS Tech Stock Up 3.9 %

NYSE:GWH traded up $0.22 on Monday, hitting $5.73. The stock had a trading volume of 123,666 shares, compared to its average volume of 83,823. The company has a market cap of $68.01 million, a PE ratio of -0.87 and a beta of 1.32. The business’s fifty day moving average is $5.82 and its 200 day moving average is $7.62. ESS Tech has a 52 week low of $4.35 and a 52 week high of $17.56.

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.