ESS Tech, Inc. (NYSE:GWH) Short Interest Update
by Doug Wharley · The Cerbat GemESS Tech, Inc. (NYSE:GWH – Get Free Report) was the target of a large increase in short interest in April. As of April 15th, there was short interest totaling 2,026,917 shares, an increase of 24.5% from the March 31st total of 1,627,846 shares. Based on an average daily trading volume, of 348,526 shares, the short-interest ratio is presently 5.8 days. Approximately 7.6% of the shares of the stock are short sold.
Wall Street Analysts Forecast Growth
GWH has been the topic of a number of research analyst reports. Roth Mkm decreased their price target on shares of ESS Tech from $3.50 to $2.50 and set a “buy” rating on the stock in a report on Friday, March 6th. Wall Street Zen lowered shares of ESS Tech from a “hold” rating to a “sell” rating in a research report on Friday, January 23rd. One equities research analyst has rated the stock with a Buy rating, one has given a Hold rating and one has given a Sell rating to the company. According to MarketBeat, ESS Tech presently has an average rating of “Hold” and a consensus price target of $2.25.
Read Our Latest Stock Report on GWH
ESS Tech Trading Up 0.5%
Shares of NYSE GWH traded up $0.01 during trading hours on Friday, hitting $1.11. The company’s stock had a trading volume of 436,937 shares, compared to its average volume of 432,406. The company has a debt-to-equity ratio of 1.08, a quick ratio of 1.03 and a current ratio of 1.04. The stock has a market cap of $30.02 million, a price-to-earnings ratio of -0.26 and a beta of 1.43. ESS Tech has a 12 month low of $0.76 and a 12 month high of $13.87. The business has a 50-day simple moving average of $1.25 and a 200-day simple moving average of $2.20.
ESS Tech (NYSE:GWH – Get Free Report) last issued its quarterly earnings results on Thursday, March 5th. The company reported ($1.20) earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of ($0.76) by ($0.44). The business had revenue of ($1.59) million for the quarter, compared to analysts’ expectations of ($1.60) million. ESS Tech had a negative net margin of 1,045.28% and a negative return on equity of 1,141.31%. On average, analysts anticipate that ESS Tech will post -1 earnings per share for the current fiscal year.
Institutional Trading of ESS Tech
Hedge funds and other institutional investors have recently made changes to their positions in the stock. Citadel Advisors LLC bought a new position in ESS Tech during the 3rd quarter valued at approximately $30,000. Yorkville Advisors Global LP purchased a new position in ESS Tech during the third quarter valued at $74,000. Green Alpha Advisors LLC boosted its holdings in ESS Tech by 1,016.7% in the fourth quarter. Green Alpha Advisors LLC now owns 118,683 shares of the company’s stock worth $223,000 after acquiring an additional 108,055 shares in the last quarter. Geode Capital Management LLC grew its stake in shares of ESS Tech by 140.2% in the fourth quarter. Geode Capital Management LLC now owns 136,470 shares of the company’s stock worth $257,000 after acquiring an additional 79,657 shares during the last quarter. Finally, LPL Financial LLC purchased a new stake in shares of ESS Tech in the fourth quarter worth $27,000. Hedge funds and other institutional investors own 46.77% of the company’s stock.
About ESS Tech
ESS Tech, Inc (NYSE: GWH) is a Portland, Oregon‐based company specializing in long‐duration iron flow battery energy storage solutions. The company’s core business centers on the design, manufacture and deployment of modular battery systems that store electricity using an iron‐chloride electrochemical process. These systems are engineered to support grid operators, utilities, commercial and industrial customers in integrating renewable power, managing peak loads and ensuring reliable back‐up power.
At the heart of ESS Tech’s offering is its “Energy Warehouse,” a containerized flow battery system featuring non‐toxic, fully recyclable materials and a simple architecture that separates energy storage capacity from power output.