ESS Tech, Inc. (NYSE:GWH) Shares Sold by Geode Capital Management LLC

Geode Capital Management LLC cut its position in shares of ESS Tech, Inc. (NYSE:GWH) by 94.2% in the 3rd quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The fund owned 50,451 shares of the company’s stock after selling 820,159 shares during the quarter. Geode Capital Management LLC owned about 0.43% of ESS Tech worth $319,000 at the end of the most recent quarter.

Several other institutional investors and hedge funds also recently added to or reduced their stakes in the company. Point72 Asia Singapore Pte. Ltd. acquired a new stake in shares of ESS Tech in the second quarter valued at about $148,000. AQR Capital Management LLC acquired a new stake in shares of ESS Tech in the second quarter valued at about $84,000. Point72 DIFC Ltd acquired a new stake in shares of ESS Tech in the second quarter valued at about $32,000. Finally, Vanguard Personalized Indexing Management LLC acquired a new stake in shares of ESS Tech in the second quarter valued at about $27,000. 46.77% of the stock is currently owned by institutional investors and hedge funds.

ESS Tech Stock Down 6.9 %

NYSE:GWH opened at $5.14 on Tuesday. The business’s 50 day moving average is $6.07 and its two-hundred day moving average is $7.80. ESS Tech, Inc. has a 52 week low of $4.35 and a 52 week high of $17.56. The company has a market cap of $61.08 million, a PE ratio of -0.79 and a beta of 1.32.

Analyst Upgrades and Downgrades

A number of equities research analysts have recently issued reports on GWH shares. Robert W. Baird lowered ESS Tech from a “neutral” rating to an “underperform” rating and lowered their target price for the company from $14.00 to $9.00 in a research note on Thursday, November 14th. Baird R W downgraded ESS Tech from a “strong-buy” rating to a “strong sell” rating in a report on Thursday, November 14th. Oppenheimer downgraded ESS Tech from an “outperform” rating to a “market perform” rating in a report on Thursday, November 14th. Finally, Canaccord Genuity Group reissued a “hold” rating and issued a $8.00 price target on shares of ESS Tech in a report on Thursday, November 14th. Two research 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. Based on data from MarketBeat, the company currently has an average rating of “Hold” and an average price target of $14.58.

ESS Tech 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.