Vanguard Personalized Indexing Management LLC Acquires New Holdings in ESS Tech, Inc. (NYSE:GWH)

Vanguard Personalized Indexing Management LLC bought a new position in shares of ESS Tech, Inc. (NYSE:GWH) in the second quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission (SEC). The fund bought 33,498 shares of the company’s stock, valued at approximately $27,000.

Several other institutional investors and hedge funds also recently modified their holdings of the business. Vanguard Group Inc. grew its position in shares of ESS Tech by 6.9% in the first quarter. Vanguard Group Inc. now owns 3,263,849 shares of the company’s stock valued at $2,361,000 after purchasing an additional 212,070 shares during the period. SG Americas Securities LLC acquired a new stake in shares of ESS Tech during the first quarter worth approximately $31,000. CWM LLC bought a new position in shares of ESS Tech during the second quarter worth about $34,000. Green Alpha Advisors LLC increased 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 valued at $159,000 after purchasing an additional 23,022 shares during the last quarter. Finally, Paloma Partners Management Co bought a new position in shares of ESS Tech during the first quarter valued at approximately $27,000. Hedge funds and other institutional investors own 46.77% of the company’s stock.

Insider Buying and Selling at ESS Tech

In related news, 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 transaction of $40,040.00. Following the sale, the director now owns 15,537 shares of the company’s stock, valued at approximately $88,871.64. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this link. Insiders own 1.80% of the company’s stock.

Analyst Ratings Changes

A number of equities analysts recently issued reports on the company. Deutsche Bank Aktiengesellschaft decreased their price objective on ESS Tech from $0.08 to $0.06 and set a “hold” rating for the company in a report on Friday, August 16th. Roth Mkm initiated coverage on ESS Tech in a research report on Friday, July 12th. They issued a “buy” rating and a $0.10 target price on the stock. Roth Capital raised ESS Tech to a “strong-buy” rating in a research report on Friday, July 12th. Canaccord Genuity Group dropped their price objective on ESS Tech from $0.08 to $0.07 and set a “hold” rating on the stock in a research note on Friday, August 16th. Finally, TD Cowen decreased their price target on shares of ESS Tech from $0.13 to $0.10 and set a “buy” rating on the stock in a research report on Thursday, August 15th. Three investment analysts have rated the stock with a hold rating, three have issued a buy rating and one has given a strong buy rating to the company. According to data from MarketBeat.com, ESS Tech presently has an average rating of “Moderate Buy” and an average target price of $0.10.

ESS Tech Price Performance

GWH opened at $6.13 on Wednesday. The firm has a 50 day simple moving average of $3.26 and a 200 day simple moving average of $1.18. The company has a market cap of $72.27 million, a price-to-earnings ratio of -13.62 and a beta of 1.48. ESS Tech, Inc. has a fifty-two week low of $5.20 and a fifty-two week high of $31.65.

ESS Tech (NYSE:GWH) last announced its quarterly earnings results on Wednesday, August 14th. The company reported ($0.12) EPS for the quarter, missing analysts’ consensus estimates of ($0.11) by ($0.01). The company had revenue of $0.35 million during the quarter, compared to the consensus estimate of $3.24 million. ESS Tech had a negative net margin of 982.87% and a negative return on equity of 77.52%. As a group, analysts expect that ESS Tech, Inc. will post -6.72 EPS for the current year.

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.