Short Interest in ESS Tech, Inc. (NYSE:GWH) Grows By 7.4%

ESS Tech, Inc. (NYSE:GWH) saw a large growth in short interest in October. As of October 31st, there was short interest totalling 9,560,000 shares, a growth of 7.4% from the October 15th total of 8,900,000 shares. Based on an average daily volume of 1,490,000 shares, the short-interest ratio is currently 6.4 days. Approximately 26.2% of the shares of the stock are sold short.

Wall Street Analysts Forecast Growth

Separately, Loop Capital decreased their target price on shares of ESS Tech from $9.00 to $3.50 in a research report on Wednesday, September 27th.

Institutional Inflows and Outflows

Hedge funds and other institutional investors have recently made changes to their positions in the company. CI Private Wealth LLC acquired a new position in shares of ESS Tech during the 4th quarter worth $27,000. Principal Financial Group Inc. acquired a new position in shares of ESS Tech during the 2nd quarter worth $33,000. Polar Capital Holdings Plc acquired a new position in shares of ESS Tech during the 1st quarter worth $66,000. Cetera Advisor Networks LLC acquired a new position in shares of ESS Tech during the 2nd quarter worth $33,000. Finally, Price T Rowe Associates Inc. MD acquired a new position in shares of ESS Tech during the 3rd quarter worth $52,000. Institutional investors and hedge funds own 44.21% of the company’s stock.

ESS Tech Stock Performance

Shares of NYSE:GWH remained flat at $1.20 during midday trading on Friday. The stock had a trading volume of 822,650 shares, compared to its average volume of 1,236,410. The company has a market capitalization of $186.71 million, a PE ratio of -2.14 and a beta of 1.91. ESS Tech has a fifty-two week low of $0.75 and a fifty-two week high of $4.02. The firm has a fifty day simple moving average of $1.53 and a 200 day simple moving average of $1.47.

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.