ESS Tech (NYSE:GWH) Shares Up 4.4% – Here’s What Happened

ESS Tech, Inc. (NYSE:GWH)’s stock price traded up 4.4% during mid-day trading on Thursday . The company traded as high as $3.48 and last traded at $3.46. 58,823 shares were traded during mid-day trading, a decline of 21% from the average session volume of 74,307 shares. The stock had previously closed at $3.31.

Analyst Ratings Changes

Several research firms recently commented on GWH. Roth Capital cut ESS Tech from a “strong-buy” rating to a “hold” rating in a research note on Tuesday, March 4th. Roth Mkm cut ESS Tech from a “buy” rating to a “neutral” rating and cut their price target for the stock from $17.00 to $3.00 in a report on Tuesday, March 4th. Two research analysts have rated the stock with a sell rating, five have assigned a hold rating and one has assigned a buy rating to the stock. According to MarketBeat.com, the company currently has a consensus rating of “Hold” and an average price target of $11.20.

ESS Tech Stock Performance

The business has a 50 day moving average of $4.33 and a two-hundred day moving average of $5.68. The firm has a market capitalization of $39.99 million, a price-to-earnings ratio of -0.51 and a beta of 1.37.

Institutional Trading of ESS Tech

An institutional investor recently raised its position in ESS Tech stock. Baird Financial Group Inc. raised its stake in ESS Tech, Inc. (NYSE:GWH) by 78.5% in the 4th quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The fund owned 405,938 shares of the company’s stock after purchasing an additional 178,532 shares during the quarter. Baird Financial Group Inc. owned 3.42% of ESS Tech worth $2,387,000 as of its most recent filing with the Securities & Exchange Commission. 46.77% of the stock is owned by institutional investors.

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.