Cerity Partners LLC Buys Shares of 71,130 ESS Tech, Inc. (NYSE:GWH)

Cerity Partners LLC purchased a new position in shares of ESS Tech, Inc. (NYSE:GWH) in the 4th quarter, according to the company in its most recent 13F filing with the Securities & Exchange Commission. The institutional investor purchased 71,130 shares of the company’s stock, valued at approximately $81,000.

Other large investors have also modified their holdings of the company. Pathstone Family Office LLC bought a new position in ESS Tech in the 3rd quarter worth about $75,000. Green Alpha Advisors LLC grew its holdings in ESS Tech by 211.1% in the 4th quarter. Green Alpha Advisors LLC now owns 196,418 shares of the company’s stock worth $224,000 after buying an additional 133,285 shares in the last quarter. Healthcare of Ontario Pension Plan Trust Fund increased its position in ESS Tech by 9.6% in the 3rd quarter. Healthcare of Ontario Pension Plan Trust Fund now owns 132,302 shares of the company’s stock valued at $249,000 after acquiring an additional 11,616 shares during the period. Redmond Asset Management LLC raised its stake in ESS Tech by 91.8% during the 3rd quarter. Redmond Asset Management LLC now owns 188,254 shares of the company’s stock valued at $354,000 after acquiring an additional 90,091 shares in the last quarter. Finally, Ardsley Advisory Partners LP acquired a new position in ESS Tech during the 3rd quarter worth $376,000. Institutional investors and hedge funds own 46.77% of the company’s stock.

ESS Tech Stock Up 0.7 %

Shares of ESS Tech stock opened at $0.77 on Wednesday. The business has a fifty day simple moving average of $0.75 and a 200-day simple moving average of $1.01. The firm has a market cap of $134.57 million, a price-to-earnings ratio of -1.57 and a beta of 1.60. ESS Tech, Inc. has a fifty-two week low of $0.61 and a fifty-two week high of $2.12.

ESS Tech (NYSE:GWH) last posted its quarterly earnings data on Wednesday, March 13th. The company reported ($0.09) earnings per share for the quarter, beating the consensus estimate of ($0.13) by $0.04. ESS Tech had a negative net margin of 1,028.89% and a negative return on equity of 71.44%. The company had revenue of $2.80 million during the quarter, compared to analyst estimates of $4.08 million. Analysts anticipate that ESS Tech, Inc. will post -0.41 earnings per share for the current fiscal year.

Analyst Upgrades and Downgrades

A number of brokerages have recently commented on GWH. Robert W. Baird lowered their price target on ESS Tech from $4.00 to $3.00 and set an “outperform” rating on the stock in a report on Thursday, March 14th. Canaccord Genuity Group dropped their price target on shares of ESS Tech from $1.75 to $1.25 and set a “hold” rating on the stock in a research report on Thursday, March 14th. Finally, Chardan Capital decreased their price objective on shares of ESS Tech from $1.90 to $0.80 and set a “neutral” rating for the company in a report on Friday, March 15th.

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.