Short Interest in ESS Tech, Inc. (NYSE:GWH) Increases By 8.3%

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

Wall Street Analyst Weigh In

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

Institutional Trading of ESS Tech

A number of hedge funds have recently made changes to their positions in GWH. Point72 DIFC Ltd bought a new stake in ESS Tech in the 2nd quarter worth approximately $32,000. Point72 Asia Singapore Pte. Ltd. purchased a new position in shares of ESS Tech during the second quarter worth approximately $148,000. AQR Capital Management LLC bought a new stake in shares of ESS Tech in the 2nd quarter worth approximately $84,000. Finally, Vanguard Personalized Indexing Management LLC bought a new stake in shares of ESS Tech in the 2nd quarter worth approximately $27,000. 46.77% of the stock is owned by institutional investors.

ESS Tech Trading Up 3.9 %

Shares of ESS Tech stock opened at $5.73 on Friday. The company has a 50 day simple moving average of $5.82 and a two-hundred day simple moving average of $7.64. ESS Tech has a 1 year low of $4.35 and a 1 year high of $17.56.

ESS Tech Company Profile

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.