ESS Tech, Inc. In the year In the year Short interest totaled 10,230,000 shares as of November 30th, a 5.5% increase from November 15th’s 9,700,000 shares. With an average trading volume of 1,420,000 shares, the short interest ratio is currently 7.2 days. Currently, 22.9% of the stock’s shares are sold short.
SS Tech Marketing 2.0%
Shares of NYSE:GWH traded up $0.05 during mid-day trading on Friday, reaching $2.59. The stock had a trading volume of 1,579,483 shares, compared to its average volume of 1,190,239. The company has a market cap of $396.94 million, a PE ratio of -1.54 and a beta of 1.98. The firm has a 50 day simple moving average of $3.50 and a two hundred day simple moving average of $3.74. ESS Tech has a twelve month low of $2.44 and a twelve month high of $14.13.
ESS Tech (NYSE:GWH – Rating ) last announced its quarterly earnings results on Thursday, November 3rd. The company reported ($0.18) earnings per share for the quarter, hitting analysts’ consensus estimates of ($0.18). The company had revenue of $0.19 million for the quarter, compared to the consensus estimate of $1.03 million. On average, equities analysts anticipate that ESS Tech will post -0.51 EPS for the current fiscal year.
Changes in analyst standards
A number of research analysts recently issued reports on GWH shares. Chardan Capital decreased their target price on shares of ESS Tech from $5.00 to $4.50 and set a “neutral” rating on the stock in a research note on Friday, November 4th. EF Hutton Acquisition Co. I initiated coverage on ESS Tech shares on Friday, October 28th. They issued a “buy” rating and a $6.00 price objective on the stock. Three investment analysts have rated the company’s stock with a buy rating. The stock presently has a consensus rating of “Moderate Buy” and a consensus price target of $7.18, according to data from MarketBeat.com.
Insiders place their bets
In related news, Director Michael R. Nigley purchased 19,100 shares of the stock in a transaction that occurred on Thursday, December 15th. The stock was realized at an average price of $2.56 per share, with a total value of $48,896.00. Following the completion of the acquisition, the director directly owns 578,821 shares in the company, valued at approximately $1,481,781.76. The purchase was disclosed in a filing with the Securities and Exchange Commission, which can be accessed through the SEC’s website. In other news, CEO Eric P. Dresselhuis sold 110,082 shares of the business’s stock in a transaction dated Monday, October 17th. The stock traded at an average price of $3.72, for a total transaction of $409,505.04. Following the completion of the sale, the chief executive officer now owns 1,381,859 shares in the company, valued at $5,140,515.48. The transaction is disclosed in an SEC filing at this hyperlink. Also, Director Michael R. Nigley bought 19,100 shares of the company’s stock in a transaction that occurred on Thursday, December 15th. The stock traded at an average price of $2.56 per share, with a total transaction of $48,896.00. Following the acquisition, the director now owns 578,821 shares of the company’s stock, valued at $1,481,781.76. A description of this purchase can be found here. Over the last three months, insiders have sold 320,569 shares of company stock worth $1,212,717. Insiders own 6.80% of the company.
Institutional flows and exits
A number of institutional investors and hedge funds have recently added to or reduced their stakes in the business. Principal Financial Group Inc. acquired a new stake in shares of ESS Tech during the second quarter worth approximately $33,000. Cetera Advisor Networks LLC acquired a new stake in ESS Tech in the 2nd quarter worth about $33,000. First Republic Investment Management Inc. acquired a stake in ESS Tech in the 2nd quarter worth approximately $36,000. Arizona State Retirement System bought a new position in ESS Tech in the second quarter worth about $41,000. Finally, Brighton Jones LLC acquired a new position in shares of ESS Tech in the second quarter valued at about $50,000. 40.80% of the stock is owned by institutional investors and hedge funds.
About ESS Tech
ESS Tech, Inc., an energy storage company, designs and manufactures metal flow batteries for commercial and consumer-scale energy storage applications worldwide. It offers energy storage products, including energy storage, off-the-meter solutions; and Energy Center, a front-of-the-meter solution. The company was founded in 2011 and is headquartered in Wilsonville, Oregon.
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