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

ESS Tech, Inc. (NYSE:GWH) was the recipient of a significant decline in short interest in March. As of March 15th, there was short interest totalling 356,500 shares, a decline of 17.5% from the February 28th total of 432,300 shares. Approximately 7.1% of the company’s stock are sold short. Based on an average daily volume of 79,400 shares, the short-interest ratio is presently 4.5 days.

ESS Tech Trading Down 9.5 %

Shares of GWH traded down $0.27 on Wednesday, reaching $2.58. The company’s stock had a trading volume of 109,460 shares, compared to its average volume of 74,836. ESS Tech has a twelve month low of $2.53 and a twelve month high of $14.10. The stock has a market capitalization of $30.66 million, a PE ratio of -0.39 and a beta of 1.37. The firm has a fifty day moving average of $4.17 and a 200-day moving average of $5.63.

ESS Tech (NYSE:GWH) last posted its quarterly earnings data on Monday, March 31st. The company reported ($1.97) earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of ($1.51) by ($0.46). The firm had revenue of $6.40 million for the quarter, compared to analysts’ expectations of $5.80 million. ESS Tech had a negative return on equity of 101.96% and a negative net margin of 1,263.79%. As a group, equities analysts anticipate that ESS Tech will post -6.87 EPS for the current fiscal year.

Institutional Investors Weigh In On ESS Tech

A hedge fund recently raised its stake in ESS Tech stock. Baird Financial Group Inc. lifted its holdings in ESS Tech, Inc. (NYSE:GWH) by 78.5% during the fourth quarter, according to its most recent 13F filing with the Securities & Exchange Commission. The fund owned 405,938 shares of the company’s stock after buying an additional 178,532 shares during the period. Baird Financial Group Inc. owned approximately 3.42% of ESS Tech worth $2,387,000 at the end of the most recent reporting period. 46.77% of the stock is owned by hedge funds and other institutional investors.

Wall Street Analyst Weigh In

A number of research firms have recently issued reports on GWH. Roth Capital cut shares of ESS Tech from a “strong-buy” rating to a “hold” rating in a research report on Tuesday, March 4th. Roth Mkm downgraded ESS Tech from a “buy” rating to a “neutral” rating and dropped their price target for the stock from $17.00 to $3.00 in a research note on Tuesday, March 4th. Two investment analysts have rated the stock with a sell rating, five have issued a hold rating and one has issued a buy rating to the company. According to data from MarketBeat, ESS Tech has a consensus rating of “Hold” and a consensus price target of $11.20.

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.