ESS Tech, Inc. (NYSE:GWH) Director Sandeep Nijhawan Sells 7,000 Shares of Stock

ESS Tech, Inc. (NYSE:GWH) Director Sandeep Nijhawan sold 7,000 shares of the firm’s stock in a transaction on Wednesday, September 11th. The stock was sold at an average price of $5.72, for a total value of $40,040.00. Following the sale, the director now directly owns 15,537 shares of the company’s stock, valued at approximately $88,871.64. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this hyperlink.

ESS Tech Stock Up 6.4 %

Shares of GWH opened at $6.18 on Wednesday. ESS Tech, Inc. has a fifty-two week low of $5.20 and a fifty-two week high of $31.65. The company has a market cap of $1.08 billion, a P/E ratio of -13.73 and a beta of 1.48. The firm’s 50 day moving average price is $2.04 and its 200 day moving average price is $0.75.

ESS Tech (NYSE:GWH) last posted its quarterly earnings data on Wednesday, August 14th. The company reported ($0.12) earnings per share for the quarter, missing analysts’ consensus estimates of ($0.11) by ($0.01). The company had revenue of $0.35 million for the quarter, compared to analysts’ expectations of $3.24 million. ESS Tech had a negative return on equity of 77.52% and a negative net margin of 982.87%. Research analysts forecast that ESS Tech, Inc. will post -6.74 earnings per share for the current year.

Institutional Investors Weigh In On ESS Tech

A number of hedge funds have recently bought and sold shares of GWH. Paloma Partners Management Co acquired a new stake in shares of ESS Tech in the 1st quarter valued at $27,000. Vanguard Personalized Indexing Management LLC acquired a new stake in ESS Tech in the second quarter valued at $27,000. SG Americas Securities LLC purchased a new stake in ESS Tech during the 1st quarter worth about $31,000. Point72 DIFC Ltd acquired a new position in shares of ESS Tech during the 2nd quarter worth about $32,000. Finally, CWM LLC purchased a new position in shares of ESS Tech in the 2nd quarter valued at about $34,000. Institutional investors and hedge funds own 46.77% of the company’s stock.

Analyst Upgrades and Downgrades

GWH has been the subject of a number of recent analyst reports. TD Cowen cut their price objective on ESS Tech from $0.13 to $0.10 and set a “buy” rating for the company in a research report on Thursday, August 15th. Canaccord Genuity Group dropped their price target on shares of ESS Tech from $0.08 to $0.07 and set a “hold” rating for the company in a research report on Friday, August 16th. Roth Capital upgraded shares of ESS Tech to a “strong-buy” rating in a report on Friday, July 12th. Roth Mkm started coverage on shares of ESS Tech in a research report on Friday, July 12th. They set a “buy” rating and a $0.10 price objective for the company. Finally, Deutsche Bank Aktiengesellschaft cut their target price on ESS Tech from $0.08 to $0.06 and set a “hold” rating on the stock in a research report on Friday, August 16th. Three analysts have rated the stock with a hold rating, three have given a buy rating and one has given a strong buy rating to the company’s stock. According to data from MarketBeat, ESS Tech currently has an average rating of “Moderate Buy” and an average target price of $0.12.

About ESS Tech

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.