ESS Tech (NYSE:GWH) Trading 5% Higher

ESS Tech, Inc. (NYSE:GWH)’s stock price traded up 5% during trading on Monday . The stock traded as high as $5.75 and last traded at $5.69. 10,134 shares were traded during trading, a decline of 84% from the average session volume of 65,024 shares. The stock had previously closed at $5.42.

Wall Street Analyst Weigh In

Several equities research analysts have commented on the company. Roth Mkm assumed coverage on ESS Tech in a research note on Friday, July 12th. They set a “buy” rating and a $0.10 price objective for the company. Canaccord Genuity Group lowered their target price on ESS Tech from $0.08 to $0.07 and set a “hold” rating on the stock in a report on Friday, August 16th. TD Cowen lowered their target price on ESS Tech from $0.13 to $0.10 and set a “buy” rating on the stock in a report on Thursday, August 15th. Roth Capital upgraded ESS Tech to a “strong-buy” rating in a report on Friday, July 12th. Finally, Deutsche Bank Aktiengesellschaft lowered their target price on ESS Tech from $0.08 to $0.06 and set a “hold” rating on the stock in a report on Friday, August 16th. Three research analysts have rated the stock with a hold rating, three have issued a buy rating and one has assigned a strong buy rating to the company’s stock. Based on data from MarketBeat, ESS Tech has an average rating of “Moderate Buy” and a consensus target price of $0.12.

ESS Tech Price Performance

The stock has a market capitalization of $1.13 billion, a price-to-earnings ratio of -14.31 and a beta of 1.48. The business has a fifty day moving average of $2.16 and a 200 day moving average of $0.79.

ESS Tech (NYSE:GWH) last released its quarterly earnings data on Wednesday, August 14th. The company reported ($0.12) EPS for the quarter, missing analysts’ consensus estimates of ($0.11) by ($0.01). ESS Tech had a negative net margin of 982.87% and a negative return on equity of 77.52%. The business had revenue of $0.35 million during the quarter, compared to analyst estimates of $3.24 million. On average, equities research analysts expect that ESS Tech, Inc. will post -6.74 EPS for the current year.

Insider Activity at ESS Tech

In related news, Director Sandeep Nijhawan sold 7,000 shares of the company’s stock in a transaction that occurred 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 transaction, the director now directly owns 15,537 shares in the company, valued at $88,871.64. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available at this hyperlink. 1.80% of the stock is currently owned by insiders.

Institutional Inflows and Outflows

A number of large investors have recently added to or reduced their stakes in the company. Green Alpha Advisors LLC lifted its stake in ESS Tech by 11.7% during the first quarter. Green Alpha Advisors LLC now owns 219,440 shares of the company’s stock worth $159,000 after purchasing an additional 23,022 shares in the last quarter. Vanguard Personalized Indexing Management LLC acquired a new position in ESS Tech during the second quarter worth $27,000. Paloma Partners Management Co purchased a new stake in shares of ESS Tech during the first quarter worth $27,000. Point72 DIFC Ltd purchased a new stake in shares of ESS Tech during the second quarter worth $32,000. Finally, CWM LLC purchased a new stake in shares of ESS Tech during the second quarter worth $34,000. 46.77% of the stock is currently owned by institutional investors and hedge funds.

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.