ESS Tech, Inc. (NYSE:GWH) Short Interest Up 8.3% in January

ESS Tech, Inc. (NYSE:GWH) saw a large increase in short interest in the month of January. As of January 15th, there was short interest totalling 384,100 shares, an increase of 8.3% from the December 31st total of 354,700 shares. Currently, 7.6% of the company’s shares are sold short. Based on an average daily volume of 95,400 shares, the days-to-cover ratio is presently 4.0 days.

Analysts Set New Price Targets

A number of equities research analysts have recently commented on the company. Robert W. Baird downgraded ESS Tech from a “neutral” rating to an “underperform” rating and lowered their price objective for the company from $14.00 to $9.00 in a research report on Thursday, November 14th. Baird R W lowered ESS Tech from a “strong-buy” rating to a “strong sell” rating in a research note on Thursday, November 14th. Canaccord Genuity Group restated a “hold” rating and set a $8.00 target price on shares of ESS Tech in a report on Thursday, November 14th. Finally, Oppenheimer lowered ESS Tech from an “outperform” rating to a “market perform” rating in a research note on Thursday, November 14th. Two research analysts have rated the stock with a sell rating, four have given a hold rating, two have given a buy rating and one has given a strong buy rating to the company. Based on data from MarketBeat, the company presently has an average rating of “Hold” and a consensus price target of $14.58.

Hedge Funds Weigh In On ESS Tech

An institutional investor recently bought a new position in ESS Tech stock. AQR Capital Management LLC acquired a new stake in ESS Tech, Inc. (NYSE:GWH) in the 2nd quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The fund acquired 102,262 shares of the company’s stock, valued at approximately $84,000. AQR Capital Management LLC owned about 0.06% of ESS Tech as of its most recent SEC filing. Institutional investors own 46.77% of the company’s stock.

ESS Tech Price Performance

Shares of ESS Tech stock opened at $5.41 on Tuesday. ESS Tech has a 1-year low of $4.35 and a 1-year high of $15.90. The business has a 50-day moving average of $5.58 and a 200-day moving average of $7.11. The company has a market capitalization of $64.29 million, a PE ratio of -0.83 and a beta of 1.31.

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.