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

ESS Tech, Inc. (NYSE:GWH) was the recipient of a large increase in short interest in the month of November. As of November 30th, there was short interest totalling 418,900 shares, an increase of 20.3% from the November 15th total of 348,200 shares. Currently, 8.3% of the company’s stock are short sold. Based on an average daily trading volume, of 87,900 shares, the short-interest ratio is currently 4.8 days.

Institutional Inflows and Outflows

Large investors have recently modified their holdings of the stock. Vanguard Group Inc. boosted its stake in ESS Tech by 6.9% during the 1st quarter. Vanguard Group Inc. now owns 3,263,849 shares of the company’s stock worth $2,361,000 after purchasing an additional 212,070 shares during the period. Point72 Asia Singapore Pte. Ltd. acquired a new stake in ESS Tech during the 2nd quarter worth $148,000. AQR Capital Management LLC acquired a new stake in ESS Tech during the 2nd quarter worth $84,000. CWM LLC acquired a new stake in ESS Tech during the 2nd quarter worth $34,000. Finally, Point72 DIFC Ltd acquired a new stake in ESS Tech during the 2nd quarter worth $32,000. Institutional investors and hedge funds own 46.77% of the company’s stock.

ESS Tech Price Performance

Shares of ESS Tech stock traded down $0.18 during trading hours on Friday, hitting $5.09. The company had a trading volume of 90,336 shares, compared to its average volume of 71,186. The company’s 50-day moving average is $6.99 and its two-hundred day moving average is $8.70. ESS Tech has a twelve month low of $4.68 and a twelve month high of $20.10. The company has a market cap of $60.48 million, a P/E ratio of -0.78 and a beta of 1.33.

Wall Street Analysts Forecast Growth

GWH has been the topic of several recent research reports. Robert W. Baird downgraded shares of ESS Tech from a “neutral” rating to an “underperform” rating and cut their target price for the stock from $14.00 to $9.00 in a research note on Thursday, November 14th. Deutsche Bank Aktiengesellschaft dropped their price objective on shares of ESS Tech from $17.25 to $13.50 and set a “hold” rating on the stock in a research report on Friday, August 16th. Canaccord Genuity Group reissued a “hold” rating and issued a $8.00 price objective on shares of ESS Tech in a research report on Thursday, November 14th. 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. Finally, Oppenheimer downgraded shares of ESS Tech from an “outperform” rating to a “market perform” rating in a research report on Thursday, November 14th. Two research analysts have rated the stock with a sell rating, four have given a hold rating, two have issued a buy rating and one has assigned a strong buy rating to the company. According to MarketBeat.com, the company presently has a consensus rating of “Hold” and a consensus price target of $14.58.

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.