ESS Tech, Inc. (NYSE:GWH – Get Free Report) saw a large growth in short interest in March. As of March 31st, there was short interest totalling 12,510,000 shares, a growth of 5.5% from the March 15th total of 11,860,000 shares. Based on an average daily volume of 954,300 shares, the days-to-cover ratio is presently 13.1 days. Currently, 21.4% of the shares of the company are short sold.
ESS Tech Price Performance
GWH stock opened at $0.67 on Thursday. ESS Tech has a 12-month low of $0.61 and a 12-month high of $2.12. The stock’s 50 day simple moving average is $0.80 and its 200 day simple moving average is $1.09.
ESS Tech (NYSE:GWH – Get Free Report) last released its quarterly earnings results on Wednesday, March 13th. The company reported ($0.09) earnings per share (EPS) for the quarter, topping the consensus estimate of ($0.13) by $0.04. ESS Tech had a negative return on equity of 71.44% and a negative net margin of 1,028.89%. The company had revenue of $2.80 million during the quarter, compared to analysts’ expectations of $4.08 million. On average, sell-side analysts forecast that ESS Tech will post -0.41 earnings per share for the current year.
Institutional Investors Weigh In On ESS Tech
Wall Street Analysts Forecast Growth
Several equities research analysts have recently commented on GWH shares. Chardan Capital decreased their price target on ESS Tech from $1.90 to $0.80 and set a “neutral” rating on the stock in a research note on Friday, March 15th. Robert W. Baird lowered their price target on ESS Tech from $4.00 to $3.00 and set an “outperform” rating for the company in a report on Thursday, March 14th. Finally, Canaccord Genuity Group decreased their target price on ESS Tech from $1.75 to $1.25 and set a “hold” rating for the company in a report on Thursday, March 14th.
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.
Further Reading
- Five stocks we like better than ESS Tech
- Dividend Capture Strategy: What You Need to Know
- United Airlines Soars on Earnings Beat
- What is a Low P/E Ratio and What Does it Tell Investors?
- J.B. Hunt Hits the Skids: Lower Prices to Come
- What is a Stock Market Index and How Do You Use Them?
- Predicting a Bear Market: 7 Signs and Why it’s Tough to Do
Receive News & Ratings for ESS Tech Daily - Enter your email address below to receive a concise daily summary of the latest news and analysts' ratings for ESS Tech and related companies with MarketBeat.com's FREE daily email newsletter.