ESS Tech, Inc. (NYSE:GWH) Short Interest Update
by Kim Johansen · The Markets DailyESS Tech, Inc. (NYSE:GWH – Get Free Report) was the target of a significant growth in short interest in the month of February. As of February 27th, there was short interest totaling 1,114,977 shares, a growth of 28.1% from the February 12th total of 870,715 shares. Based on an average trading volume of 393,625 shares, the days-to-cover ratio is currently 2.8 days. Approximately 4.9% of the shares of the stock are short sold. Approximately 4.9% of the shares of the stock are short sold. Based on an average trading volume of 393,625 shares, the days-to-cover ratio is currently 2.8 days.
Analysts Set New Price Targets
GWH has been the subject of a number of research analyst reports. Weiss Ratings restated a “sell (d-)” rating on shares of ESS Tech in a research report on Monday, December 29th. Roth Mkm dropped their price objective on ESS Tech from $3.50 to $2.50 and set a “buy” rating on the stock in a research note on Friday, March 6th. Finally, Wall Street Zen cut ESS Tech from a “hold” rating to a “sell” rating in a research note on Friday, January 23rd. One investment analyst has rated the stock with a Buy rating, three have issued a Hold rating and one has assigned a Sell rating to the company. According to MarketBeat, the company currently has a consensus rating of “Hold” and a consensus price target of $2.50.
Get Our Latest Stock Analysis on ESS Tech
ESS Tech Stock Down 1.2%
ESS Tech stock traded down $0.02 during mid-day trading on Friday, hitting $1.26. The company’s stock had a trading volume of 163,682 shares, compared to its average volume of 706,528. ESS Tech has a twelve month low of $0.76 and a twelve month high of $13.87. The stock’s fifty day moving average price is $1.61 and its two-hundred day moving average price is $2.32. The company has a current ratio of 1.04, a quick ratio of 1.03 and a debt-to-equity ratio of 1.08.
ESS Tech (NYSE:GWH – Get Free Report) last announced its quarterly earnings data on Thursday, March 5th. The company reported ($1.20) EPS for the quarter, missing analysts’ consensus estimates of ($0.76) by ($0.44). The company had revenue of ($1.59) million for the quarter, compared to analyst estimates 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 predict that ESS Tech will post -6.87 EPS for the current fiscal year.
Institutional Inflows and Outflows
Several hedge funds and other institutional investors have recently made changes to their positions in GWH. XTX Topco Ltd raised its holdings in shares of ESS Tech by 137.8% during the fourth quarter. XTX Topco Ltd now owns 49,609 shares of the company’s stock valued at $93,000 after acquiring an additional 28,749 shares during the period. Engineers Gate Manager LP acquired a new stake in ESS Tech during the 4th quarter valued at $31,000. Arosa Capital Management LP lifted its holdings in shares of ESS Tech by 40.7% in the fourth quarter. Arosa Capital Management LP now owns 950,000 shares of the company’s stock valued at $1,786,000 after purchasing an additional 274,583 shares in the last quarter. Alyeska Investment Group L.P. purchased a new stake in shares of ESS Tech in the fourth quarter valued at $2,632,000. Finally, State Street Corp boosted its position in shares of ESS Tech by 188.1% in the fourth quarter. State Street Corp now owns 46,975 shares of the company’s stock worth $88,000 after buying an additional 30,671 shares during the period. 46.77% of the stock is currently owned by institutional investors and hedge funds.
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.