Short Interest in ESS Tech, Inc. (NYSE:GWH) Expands By 89.3%

ESS Tech, Inc. (NYSE:GWH) was the target of a significant increase in short interest during the month of January. As of January 30th, there was short interest totaling 923,973 shares, an increase of 89.3% from the January 15th total of 488,204 shares. Based on an average daily trading volume, of 751,870 shares, the short-interest ratio is currently 1.2 days. Currently, 4.0% of the shares of the company are short sold. Currently, 4.0% of the shares of the company are short sold. Based on an average daily trading volume, of 751,870 shares, the short-interest ratio is currently 1.2 days.

ESS Tech Trading Up 0.7%

Shares of NYSE:GWH traded up $0.01 on Friday, reaching $1.43. The company had a trading volume of 171,321 shares, compared to its average volume of 541,707. The firm has a market capitalization of $33.43 million, a PE ratio of -0.28 and a beta of 1.46. ESS Tech has a 52-week low of $0.76 and a 52-week high of $13.87. The firm’s 50 day simple moving average is $1.85 and its 200-day simple moving average is $2.35.

ESS Tech (NYSE:GWH) last posted its quarterly earnings results on Thursday, November 13th. The company reported ($0.73) earnings per share for the quarter, beating the consensus estimate of ($0.76) by $0.03. The business had revenue of $0.21 million for the quarter, compared to the consensus estimate of $5.65 million. ESS Tech had a negative return on equity of 592.34% and a negative net margin of 1,045.28%. As a group, equities research analysts predict that ESS Tech will post -6.87 earnings per share for the current year.

Hedge Funds Weigh In On ESS Tech

Large investors have recently bought and sold shares of the business. Citadel Advisors LLC purchased a new position in shares of ESS Tech during the 3rd quarter worth $30,000. Yorkville Advisors Global LP purchased a new stake in ESS Tech in the third quarter valued at $74,000. Green Alpha Advisors LLC lifted its holdings in shares of ESS Tech by 1,016.7% in the 4th quarter. Green Alpha Advisors LLC now owns 118,683 shares of the company’s stock worth $223,000 after acquiring an additional 108,055 shares during the last quarter. Geode Capital Management LLC grew its stake in shares of ESS Tech by 140.2% in the fourth quarter. Geode Capital Management LLC now owns 136,470 shares of the company’s stock valued at $257,000 after buying an additional 79,657 shares in the last quarter. Finally, LPL Financial LLC acquired a new position in ESS Tech in the 4th quarter valued at about $27,000. Institutional investors and hedge funds own 46.77% of the company’s stock.

Wall Street Analyst Weigh In

A number of equities analysts have recently weighed in on the company. Weiss Ratings reaffirmed a “sell (d-)” rating on shares of ESS Tech in a research note on Monday, December 29th. Wall Street Zen downgraded shares of ESS Tech from a “hold” rating to a “sell” rating in a research note on Friday, January 23rd. One research analyst has rated the stock with a Buy rating, three have given a Hold rating and one has issued a Sell rating to the company. Based on data from MarketBeat.com, ESS Tech has an average rating of “Hold” and a consensus price target of $2.83.

ESS Tech Company Profile

ESS Tech, Inc (NYSE: GWH) is a Portland, Oregon?based company specializing in long?duration iron flow battery energy storage solutions. The company’s core business centers on the design, manufacture and deployment of modular battery systems that store electricity using an iron?chloride electrochemical process. These systems are engineered to support grid operators, utilities, commercial and industrial customers in integrating renewable power, managing peak loads and ensuring reliable back?up power.

At the heart of ESS Tech’s offering is its “Energy Warehouse,” a containerized flow battery system featuring non?toxic, fully recyclable materials and a simple architecture that separates energy storage capacity from power output.