ESS Tech, Inc. (NYSE:GWH) Short Interest Update

ESS Tech, Inc. (NYSE:GWH) saw a large growth in short interest in the month of January. As of January 15th, there was short interest totalling 384,100 shares, a growth of 8.3% from the December 31st total of 354,700 shares. Based on an average trading volume of 95,400 shares, the short-interest ratio is presently 4.0 days. Approximately 7.6% of the company’s stock are sold short.

ESS Tech Price Performance

Shares of NYSE GWH opened at $5.53 on Tuesday. ESS Tech has a 1 year low of $4.35 and a 1 year high of $15.90. The company’s 50-day moving average is $5.58 and its 200 day moving average is $7.11. The stock has a market capitalization of $65.71 million, a P/E ratio of -0.83 and a beta of 1.31.

Analysts Set New Price Targets

A number of analysts have commented on the stock. Baird R W lowered shares of ESS Tech from a “strong-buy” rating to a “strong sell” rating in a research note on Thursday, November 14th. Oppenheimer downgraded ESS Tech from an “outperform” rating to a “market perform” rating in a research report on Thursday, November 14th. Robert W. Baird downgraded ESS Tech from a “neutral” rating to an “underperform” rating and cut their price target for the stock from $14.00 to $9.00 in a research note on Thursday, November 14th. Finally, Canaccord Genuity Group restated a “hold” rating and issued a $8.00 price objective on shares of ESS Tech in a research note on Thursday, November 14th. Two analysts have rated the stock with a sell rating, four have given a hold rating, two have issued a buy rating and one has issued a strong buy rating to the company’s stock. According to data from MarketBeat.com, the stock presently has a consensus rating of “Hold” and a consensus target price of $14.58.

Institutional Inflows and Outflows

A hedge fund recently bought a new stake in ESS Tech stock. AQR Capital Management LLC purchased a new position in 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 institutional investor purchased 102,262 shares of the company’s stock, valued at approximately $84,000. AQR Capital Management LLC owned approximately 0.06% of ESS Tech as of its most recent SEC filing. Institutional investors own 46.77% of the company’s stock.

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.