ESS Tech, Inc. (NYSE:GWH) Short Interest Update

ESS Tech, Inc. (NYSE:GWH) was the target of a large decrease in short interest in the month of December. As of December 15th, there was short interest totaling 561,306 shares, a decrease of 19.2% from the November 30th total of 694,329 shares. Currently, 2.9% of the shares of the company are sold short. Based on an average daily volume of 436,647 shares, the days-to-cover ratio is currently 1.3 days. Based on an average daily volume of 436,647 shares, the days-to-cover ratio is currently 1.3 days. Currently, 2.9% of the shares of the company are sold short.

Analyst Ratings Changes

A number of brokerages recently commented on GWH. Roth Capital set a $3.50 price objective on ESS Tech and gave the stock a “buy” rating in a research note on Friday, October 10th. Weiss Ratings reissued a “sell (d-)” rating on shares of ESS Tech in a report on Monday. Finally, Wall Street Zen lowered shares of ESS Tech from a “hold” rating to a “sell” rating in a research report on Sunday, December 14th. One analyst has rated the stock with a Buy rating, five have issued a Hold rating and one has issued a Sell rating to the company. According to data from MarketBeat.com, the stock presently has an average rating of “Hold” and a consensus price target of $2.88.

Institutional Trading of ESS Tech

An institutional investor recently bought a new position in ESS Tech stock. Yorkville Advisors Global LP acquired a new stake in shares of ESS Tech, Inc. (NYSE:GWH) during the third quarter, according to the company in its most recent filing with the Securities & Exchange Commission. The firm acquired 48,374 shares of the company’s stock, valued at approximately $74,000. ESS Tech accounts for 0.0% of Yorkville Advisors Global LP’s portfolio, making the stock its 28th biggest position. Yorkville Advisors Global LP owned about 0.33% of ESS Tech at the end of the most recent reporting period. 46.77% of the stock is currently owned by institutional investors.

ESS Tech Trading Up 0.5%

GWH traded up $0.01 during trading hours on Wednesday, hitting $1.84. The company’s stock had a trading volume of 344,405 shares, compared to its average volume of 406,732. The company has a 50-day simple moving average of $2.92 and a 200 day simple moving average of $2.30. The firm has a market capitalization of $36.10 million, a PE ratio of -0.36 and a beta of 1.43. ESS Tech has a fifty-two week low of $0.76 and a fifty-two week high of $13.87.

ESS Tech (NYSE:GWH) last released its quarterly earnings results on Thursday, November 13th. The company reported ($0.73) earnings per share (EPS) for the quarter, topping the consensus estimate of ($0.76) by $0.03. The company had revenue of $0.21 million during the quarter, compared to analysts’ expectations of $5.65 million. ESS Tech had a negative return on equity of 592.34% and a negative net margin of 1,045.28%. Research analysts expect that ESS Tech will post -6.87 earnings per share for the current fiscal year.

About ESS Tech

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.