ESS Tech (NYSE:GWH) Trading Up 1.7%

ESS Tech, Inc. (NYSE:GWH)’s stock price rose 1.7% during mid-day trading on Thursday . The company traded as high as $0.87 and last traded at $0.85. Approximately 701,551 shares traded hands during mid-day trading, a decline of 23% from the average daily volume of 906,710 shares. The stock had previously closed at $0.83.

Analysts Set New Price Targets

GWH has been the subject of a number of research reports. Roth Capital raised shares of ESS Tech to a “strong-buy” rating in a report on Friday. Chardan Capital cut their price target on shares of ESS Tech from $1.90 to $0.80 and set a “neutral” rating on the stock in a research note on Friday, March 15th. TD Cowen cut their target price on ESS Tech from $2.50 to $2.00 and set a “buy” rating on the stock in a research note on Wednesday, May 8th. Finally, Roth Mkm began coverage on ESS Tech in a research report on Friday. They set a “buy” rating and a $1.50 price target for the company. Two analysts have rated the stock with a hold rating, three have given a buy rating and one has issued a strong buy rating to the stock. According to MarketBeat.com, ESS Tech currently has a consensus rating of “Moderate Buy” and an average price target of $2.01.

ESS Tech Stock Up 7.0 %

The stock has a market capitalization of $158.30 million, a PE ratio of -2.01 and a beta of 1.52. The firm has a 50 day moving average price of $0.78 and a 200 day moving average price of $0.84.

ESS Tech (NYSE:GWH) last released its earnings results on Tuesday, May 7th. The company reported ($0.10) earnings per share for the quarter, beating analysts’ consensus estimates of ($0.13) by $0.03. The firm had revenue of $2.74 million during the quarter, compared to the consensus estimate of $3.21 million. ESS Tech had a negative net margin of 746.89% and a negative return on equity of 73.08%. On average, equities analysts forecast that ESS Tech, Inc. will post -0.42 earnings per share for the current fiscal year.

Insider Transactions at ESS Tech

In related news, Director Harry Quarls purchased 42,690 shares of ESS Tech stock in a transaction that occurred on Thursday, May 9th. The shares were acquired at an average cost of $0.84 per share, for a total transaction of $35,859.60. Following the transaction, the director now directly owns 366,146 shares in the company, valued at $307,562.64. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through the SEC website. Insiders own 1.80% of the company’s stock.

Hedge Funds Weigh In On ESS Tech

Large investors have recently modified their holdings of the stock. Paloma Partners Management Co purchased a new stake in ESS Tech during the first quarter valued at $27,000. CWM LLC purchased a new stake in shares of ESS Tech during the 2nd quarter valued at about $34,000. SG Americas Securities LLC bought a new position in shares of ESS Tech during the 1st quarter valued at approximately $31,000. Cerity Partners LLC purchased a new stake in shares of ESS Tech in the fourth quarter valued at $81,000. Finally, Green Alpha Advisors LLC boosted its position in shares of ESS Tech by 211.1% during the fourth quarter. Green Alpha Advisors LLC now owns 196,418 shares of the company’s stock valued at $224,000 after buying an additional 133,285 shares during the period. Hedge funds and other institutional investors 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.