ESS Tech (NYSE:GWH) Stock Price Up 4.9%

ESS Tech, Inc. (NYSE:GWHGet Rating) rose 4.9% during mid-day trading on Friday . The company traded as high as $4.28 and last traded at $4.25. Approximately 2,427 shares were traded during mid-day trading, a decline of 100% from the average daily volume of 976,275 shares. The stock had previously closed at $4.05.

GWH has been the subject of a number of research analyst reports. Robert W. Baird reduced their price target on shares of ESS Tech from $15.00 to $9.00 in a research report on Friday, February 25th. Guggenheim assumed coverage on ESS Tech in a report on Tuesday, March 22nd. They issued a “buy” rating and a $10.00 price objective on the stock. Zacks Investment Research downgraded ESS Tech from a “hold” rating to a “sell” rating in a report on Tuesday, May 17th. Canaccord Genuity Group dropped their price objective on ESS Tech from $18.50 to $10.00 in a report on Monday, February 28th. Finally, Deutsche Bank Aktiengesellschaft assumed coverage on ESS Tech in a report on Wednesday, March 30th. They issued a “hold” rating and a $7.00 price objective on the stock. One research analyst has rated the stock with a sell rating, one has given a hold rating and seven have given a buy rating to the company. Based on data from MarketBeat.com, the company presently has a consensus rating of “Buy” and a consensus price target of $17.57.

The company has a current ratio of 12.04, a quick ratio of 18.02 and a debt-to-equity ratio of 0.01. The firm has a fifty day simple moving average of $5.36 and a 200 day simple moving average of $8.04.

ESS Tech (NYSE:GWHGet Rating) last posted its quarterly earnings data on Thursday, February 24th. The company reported ($0.23) earnings per share for the quarter, missing the consensus estimate of ($0.06) by ($0.17). Equities research analysts forecast that ESS Tech, Inc. will post -0.54 EPS for the current year.

In other news, Director Michael R. Niggli bought 20,000 shares of ESS Tech stock in a transaction that occurred on Tuesday, March 1st. The stock was purchased at an average cost of $5.01 per share, with a total value of $100,200.00. The purchase was disclosed in a document filed with the Securities & Exchange Commission, which is available through the SEC website.

A number of hedge funds have recently modified their holdings of the stock. Polar Capital Holdings Plc bought a new position in ESS Tech in the first quarter worth $66,000. State Street Corp lifted its holdings in shares of ESS Tech by 25.0% during the first quarter. State Street Corp now owns 190,323 shares of the company’s stock valued at $1,060,000 after acquiring an additional 38,023 shares during the period. Invesco Ltd. lifted its holdings in shares of ESS Tech by 100.4% during the first quarter. Invesco Ltd. now owns 3,206,094 shares of the company’s stock valued at $17,858,000 after acquiring an additional 1,605,880 shares during the period. Renaissance Technologies LLC lifted its holdings in shares of ESS Tech by 711.7% during the first quarter. Renaissance Technologies LLC now owns 83,600 shares of the company’s stock valued at $466,000 after acquiring an additional 73,300 shares during the period. Finally, Northern Trust Corp lifted its holdings in shares of ESS Tech by 14.9% during the first quarter. Northern Trust Corp now owns 103,504 shares of the company’s stock valued at $577,000 after acquiring an additional 13,451 shares during the period. 44.12% of the stock is owned by hedge funds and other institutional investors.

About ESS Tech (NYSE:GWH)

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.

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