ESS Tech, Inc. (NYSE:GWH) Short Interest Up 20.3% in November

ESS Tech, Inc. (NYSE:GWH) saw a large growth in short interest in November. As of November 30th, there was short interest totalling 418,900 shares, a growth of 20.3% from the November 15th total of 348,200 shares. Based on an average daily trading volume, of 87,900 shares, the days-to-cover ratio is presently 4.8 days. Approximately 8.3% of the shares of the stock are sold short.

Wall Street Analyst Weigh In

Several equities research analysts have weighed in on the company. Robert W. Baird cut ESS Tech from a “neutral” rating to an “underperform” rating and cut their target price for the stock from $14.00 to $9.00 in a research note on Thursday, November 14th. Oppenheimer lowered ESS Tech from an “outperform” rating to a “market perform” rating in a research note on Thursday, November 14th. Canaccord Genuity Group reissued a “hold” rating and set a $8.00 target price on shares of ESS Tech in a research note on Thursday, November 14th. Finally, Baird R W downgraded shares of ESS Tech from a “strong-buy” rating to a “strong sell” rating in a research note on Thursday, November 14th. Two investment analysts have rated the stock with a sell rating, four have issued a hold rating, two have assigned a buy rating and one has issued a strong buy rating to the company. According to MarketBeat.com, the stock has an average rating of “Hold” and an average price target of $14.58.

ESS Tech Trading Down 3.4 %

Shares of GWH stock opened at $5.09 on Monday. The firm has a market capitalization of $60.47 million, a price-to-earnings ratio of -0.78 and a beta of 1.33. The business’s 50-day moving average price is $6.99 and its 200-day moving average price is $8.66. ESS Tech has a 12 month low of $4.68 and a 12 month high of $20.10.

Institutional Investors Weigh In On ESS Tech

Several hedge funds have recently added to or reduced their stakes in the business. Vanguard Group Inc. raised its stake in shares of ESS Tech by 6.9% during the first quarter. Vanguard Group Inc. now owns 3,263,849 shares of the company’s stock valued at $2,361,000 after acquiring an additional 212,070 shares during the last quarter. Point72 Asia Singapore Pte. Ltd. acquired a new stake in ESS Tech in the second quarter valued at $148,000. AQR Capital Management LLC bought a new position in ESS Tech during the 2nd quarter worth $84,000. CWM LLC bought a new stake in shares of ESS Tech in the 2nd quarter valued at about $34,000. Finally, Point72 DIFC Ltd acquired a new stake in shares of ESS Tech in the second quarter valued at about $32,000. 46.77% of the stock is currently owned by institutional investors and hedge funds.

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.