ESS Tech (NYSE:GWH) Shares Up 1.7%

Shares of ESS Tech, Inc. (NYSE:GWH – Get Free Report) traded up 1.7% during mid-day trading on Thursday . The stock traded as high as $0.87 and last traded at $0.85. 701,551 shares changed hands during trading, a decline of 23% from the average session volume of 906,710 shares. The stock had previously closed at $0.83.

Analyst Upgrades and Downgrades

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

View Our Latest Analysis on ESS Tech

ESS Tech Stock Performance

The firm has a market cap of $147.96 million, a P/E ratio of -1.88 and a beta of 1.52. The business’s 50-day simple moving average is $0.78 and its 200 day simple moving average is $0.84.

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

Insiders Place Their Bets

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

Institutional Investors Weigh In On ESS Tech

A number of hedge funds have recently modified their holdings of GWH. Green Alpha Advisors LLC grew its position in shares of ESS Tech by 211.1% during the 4th quarter. Green Alpha Advisors LLC now owns 196,418 shares of the company’s stock valued at $224,000 after acquiring an additional 133,285 shares during the period. Cerity Partners LLC bought a new stake in shares of ESS Tech during the 4th quarter valued at $81,000. SG Americas Securities LLC bought a new stake in shares of ESS Tech during the 1st quarter valued at $31,000. Vanguard Group Inc. grew its position 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 acquiring an additional 212,070 shares during the period. Finally, Paloma Partners Management Co bought a new stake in shares of ESS Tech during the 1st quarter valued at $27,000. Institutional investors own 46.77% of the company’s stock.

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.