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

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

Institutional Investors Weigh In On ESS Tech

Institutional investors and hedge funds have recently modified their holdings of the company. LPL Financial LLC acquired a new stake in ESS Tech in the fourth quarter valued at $27,000. Citadel Advisors LLC purchased a new position in ESS Tech during the 3rd quarter valued at about $30,000. State Street Corp raised its position in ESS Tech by 188.1% during the fourth quarter. State Street Corp now owns 46,975 shares of the company’s stock worth $88,000 after acquiring an additional 30,671 shares during the last quarter. Yorkville Advisors Global LP purchased a new stake in shares of ESS Tech in the third quarter valued at about $74,000. Finally, Green Alpha Advisors LLC grew its position in shares of ESS Tech by 1,016.7% in the fourth quarter. Green Alpha Advisors LLC now owns 118,683 shares of the company’s stock valued at $223,000 after purchasing an additional 108,055 shares during the last quarter. Institutional investors and hedge funds own 46.77% of the company’s stock.

Wall Street Analysts Forecast Growth

Several equities analysts have commented on GWH shares. Wall Street Zen lowered shares of ESS Tech from a “hold” rating to a “sell” rating in a research note on Friday, January 23rd. Weiss Ratings reaffirmed a “sell (d-)” rating on shares of ESS Tech in a research report on Monday, December 29th. One equities research analyst has rated the stock with a Buy rating, three have assigned a Hold rating and one has given a Sell rating to the company’s stock. According to data from MarketBeat, the company currently has a consensus rating of “Hold” and an average target price of $2.83.

ESS Tech Price Performance

Shares of NYSE GWH traded up $0.01 during trading on Friday, hitting $1.43. 171,321 shares of the company were exchanged, compared to its average volume of 541,707. ESS Tech has a 1 year low of $0.76 and a 1 year high of $13.87. The company has a market cap of $33.43 million, a price-to-earnings ratio of -0.28 and a beta of 1.46. The firm’s fifty day moving average price is $1.85 and its 200 day moving average price is $2.35.

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

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.