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

ESS Tech, Inc. (NYSE:GWH) saw a large growth in short interest in the month of January. As of January 15th, there was short interest totalling 384,100 shares, a growth of 8.3% from the December 31st total of 354,700 shares. Based on an average trading volume of 95,400 shares, the short-interest ratio is currently 4.0 days. Approximately 7.6% of the shares of the company are sold short.

ESS Tech Trading Down 1.8 %

NYSE:GWH opened at $5.41 on Tuesday. The company has a market capitalization of $64.29 million, a P/E ratio of -0.83 and a beta of 1.31. The firm has a 50-day moving average price of $5.58 and a two-hundred day moving average price of $7.11. ESS Tech has a twelve month low of $4.35 and a twelve month high of $15.90.

Institutional Inflows and Outflows

A hedge fund recently bought a new stake in ESS Tech stock. AQR Capital Management LLC purchased a new position in shares of ESS Tech, Inc. (NYSE:GWH) in the second quarter, according to its most recent filing with the Securities & Exchange Commission. The fund purchased 102,262 shares of the company’s stock, valued at approximately $84,000. AQR Capital Management LLC owned approximately 0.06% of ESS Tech at the end of the most recent reporting period. Hedge funds and other institutional investors own 46.77% of the company’s stock.

Analysts Set New Price Targets

Several equities analysts have issued reports on GWH shares. Oppenheimer downgraded ESS Tech from an “outperform” rating to a “market perform” rating in a research note on Thursday, November 14th. Canaccord Genuity Group restated a “hold” rating and set a $8.00 target price 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 report on Thursday, November 14th. Finally, Robert W. Baird downgraded shares of ESS Tech from a “neutral” rating to an “underperform” rating and decreased their price objective for the stock from $14.00 to $9.00 in a report on Thursday, November 14th. Two analysts have rated the stock with a sell rating, four have assigned a hold rating, two have assigned a buy rating and one has given a strong buy rating to the company. According to data from MarketBeat, the company presently has an average rating of “Hold” and an average target price 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.