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

ESS Tech, Inc. (NYSE:GWH) saw a significant increase in short interest during the month of January. As of January 15th, there was short interest totalling 384,100 shares, an increase of 8.3% from the December 31st total of 354,700 shares. Approximately 7.6% of the shares of the stock are short sold. Based on an average daily trading volume, of 95,400 shares, the short-interest ratio is currently 4.0 days.

Analyst Ratings Changes

Several equities research analysts recently weighed in on GWH shares. Oppenheimer cut shares of ESS Tech from an “outperform” rating to a “market perform” rating in a research report on Thursday, November 14th. Canaccord Genuity Group restated a “hold” rating and issued a $8.00 target price on shares of ESS Tech in a report 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 company from $14.00 to $9.00 in a report on Thursday, November 14th. Finally, Baird R W cut ESS Tech from a “strong-buy” rating to a “strong sell” rating in a research note on Thursday, November 14th. Two equities research analysts have rated the stock with a sell rating, four have assigned a hold rating, two have given a buy rating and one has assigned a strong buy rating to the company’s stock. According to MarketBeat.com, the company currently has a consensus rating of “Hold” and a consensus target price of $14.58.

ESS Tech Price Performance

ESS Tech stock opened at $5.53 on Tuesday. ESS Tech has a 1-year low of $4.35 and a 1-year high of $15.90. The company’s 50-day moving average is $5.58 and its 200 day moving average is $7.11. The firm has a market capitalization of $65.71 million, a P/E ratio of -0.83 and a beta of 1.31.

Institutional Investors Weigh In On ESS Tech

A hedge fund recently bought a new stake in ESS Tech stock. AQR Capital Management LLC acquired a new position in shares of ESS Tech, Inc. (NYSE:GWH) in the 2nd quarter, according to the company in its most recent filing with the SEC. The fund acquired 102,262 shares of the company’s stock, valued at approximately $84,000. AQR Capital Management LLC owned approximately 0.06% of ESS Tech as of its most recent SEC filing. Institutional investors and hedge funds own 46.77% of the company’s stock.

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.