Sandeep Nijhawan Sells 7,000 Shares of ESS Tech, Inc. (NYSE:GWH) Stock

ESS Tech, Inc. (NYSE:GWH) Director Sandeep Nijhawan sold 7,000 shares of the firm’s stock in a transaction that occurred on Wednesday, September 11th. The stock was sold at an average price of $5.72, for a total transaction of $40,040.00. Following the sale, the director now owns 15,537 shares of the company’s stock, valued at $88,871.64. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through the SEC website.

ESS Tech Stock Down 2.0 %

ESS Tech stock opened at $6.32 on Friday. ESS Tech, Inc. has a 12 month low of $5.20 and a 12 month high of $31.65. The stock has a market cap of $74.51 million, a price-to-earnings ratio of -14.04 and a beta of 1.48. The business has a 50 day moving average price of $2.29 and a two-hundred day moving average price of $0.83.

ESS Tech (NYSE:GWH) last issued its earnings results on Wednesday, August 14th. The company reported ($0.12) EPS for the quarter, missing the consensus estimate of ($0.11) by ($0.01). ESS Tech had a negative return on equity of 77.52% and a negative net margin of 982.87%. The firm had revenue of $0.35 million during the quarter, compared to the consensus estimate of $3.24 million. On average, analysts expect that ESS Tech, Inc. will post -6.74 earnings per share for the current fiscal year.

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 research note on Friday, July 12th. Deutsche Bank Aktiengesellschaft reduced their price objective on ESS Tech from $0.08 to $0.06 and set a “hold” rating for the company in a research report on Friday, August 16th. Canaccord Genuity Group dropped their target price on ESS Tech from $0.08 to $0.07 and set a “hold” rating on the stock in a research report on Friday, August 16th. TD Cowen cut their target price on ESS Tech from $0.13 to $0.10 and set a “buy” rating on the stock in a report on Thursday, August 15th. Finally, Roth Mkm began coverage on ESS Tech in a research report on Friday, July 12th. They issued a “buy” rating and a $0.10 price target for the company. Three investment analysts have rated the stock with a hold rating, three have assigned a buy rating and one has issued a strong buy rating to the company. According to MarketBeat, the company presently has an average rating of “Moderate Buy” and an average target price of $0.12.

Hedge Funds Weigh In On ESS Tech

A number of hedge funds and other institutional investors have recently made changes to their positions in the business. Green Alpha Advisors LLC raised its position in ESS Tech by 11.7% in the first quarter. Green Alpha Advisors LLC now owns 219,440 shares of the company’s stock worth $159,000 after purchasing an additional 23,022 shares in the last quarter. SG Americas Securities LLC bought a new stake in shares of ESS Tech in the 1st quarter valued at approximately $31,000. Vanguard Group Inc. grew its stake in shares of ESS Tech by 6.9% in the 1st quarter. Vanguard Group Inc. now owns 3,263,849 shares of the company’s stock valued at $2,361,000 after purchasing an additional 212,070 shares during the period. Paloma Partners Management Co acquired a new position in shares of ESS Tech in the 1st quarter worth approximately $27,000. Finally, CWM LLC bought a new position in shares of ESS Tech during the 2nd quarter worth approximately $34,000. 46.77% of the stock is owned by institutional investors.

About ESS Tech

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.