HSE Technician (NYSE: GWH – Get a rating) had its price target reduced by Chardan Capital from $5.00 to $4.50 in a research note published on Friday, Benzinga reports. The brokerage currently has a “neutral” rating on the stock. Chardan Capital’s price target indicates upside potential of 22.28% from the stock’s previous close.
Several other equity research analysts have also recently published reports on GWH. EF Hutton Acquisition Co. I started covering ESS Tech in a report on Friday October 28th. They issued a “buy” rating and a target price of $6.00 on the stock. Canaccord Genuity Group began covering ESS Tech in a report on Wednesday, July 13. They issued a “hold” rating and a target price of $3.75 on the stock. Three research analysts rated the stock with a hold rating and five gave the company a buy rating. According to data from MarketBeat.com, the company currently has an average rating of “Moderate Buy” and a consensus target price of $9.78.
ESS Tech Trading down 8.9%
Shares of GWH traded down $0.36 in Friday’s midday session, hitting $3.68. The stock had a trading volume of 43,373 shares, compared to an average volume of 1,312,888. The company has a market capitalization of $564.03 million, a price-earnings ratio of -0.50 and a beta of 2.25. ESS Tech has a 12-month low of $2.59 and a 12-month high of $21.37. The company’s 50-day moving average is $4.11 and its 200-day moving average is $4.13.
HSE Technician (NYSE: GWH – Get a rating) last released its quarterly earnings data on Thursday, August 11. The company reported ($0.10) earnings per share for the quarter, beating analyst consensus estimates of ($0.16) by $0.06. The company posted revenue of $0.69 million for the quarter, versus a consensus estimate of $0.01 million. Research analysts expect ESS Tech to post -0.49 EPS for the current fiscal year.
Insider Trading at ESS Tech
Separately, CFO Amir Moftakhar sold 8,386 shares of the company in a trade dated Wednesday, October 19. The shares were sold at an average price of $3.48, for a total value of $29,183.28. Following the transaction, the CFO now directly owns 558,850 shares of the company, valued at approximately $1,944,798. The sale was disclosed in a filing with the Securities & Exchange Commission, available at this link. Separately, Chairman Craig E. Evans sold 16,340 shares of the company in a transaction dated Monday, October 17. The shares were sold at an average price of $3.72, for a total value of $60,784.80. Following the transaction, the president now directly owns 5,625,277 shares of the company, valued at approximately $20,926,030.44. The sale was disclosed in a filing with the Securities & Exchange Commission, available at this link. Additionally, CFO Amir Moftakhar sold 8,386 shares of the company in a trade dated Wednesday, October 19. The shares were sold at an average price of $3.48, for a total transaction of $29,183.28. Following completion of the transaction, the CFO now directly owns 558,850 shares of the company, valued at $1,944,798. Disclosure of this sale can be found here. Insiders sold a total of 198,013 shares of the company valued at $754,189 in the past ninety days. 6.80% of the shares are currently held by company insiders.
ESS Tech Institutional Trading
A number of hedge funds have recently bought and sold shares of the company. JPMorgan Chase & Co. strengthens its position in ESS Tech by 10.7% in the 1st quarter. JPMorgan Chase & Co. now owns 36,076 shares of the company valued at $201,000 after purchasing 3,473 additional shares during the period. Redmond Asset Management LLC increased its position in ESS Tech by 3.8% in Q1. Redmond Asset Management LLC now owns 98,330 shares of the company valued at $548,000 after purchasing an additional 3,581 shares during the period. IQ EQ FUND MANAGEMENT IRELAND Ltd increased its position in ESS Tech shares by 17.3% during the third quarter. IQ EQ FUND MANAGEMENT IRELAND Ltd now owns 50,451 shares in the company worth $206,000 after buying an additional 7,434 shares in the last quarter. CPR Investments Inc. bought a new stake in the shares of ESS Tech during the 1st quarter at a value of $58,000. Finally, Principal Financial Group Inc. purchased a new stake in ESS Tech stock during Q2 for $33,000. Institutional investors and hedge funds hold 40.80% of the company’s shares.
ESS Tech Company Profile
ESS Tech, Inc, an energy storage company, designs and produces iron-flow batteries for commercial and large-scale energy storage applications worldwide. It offers energy storage products, including Energy Warehouse, a behind-the-meter solution; and Energy Center, a leading solution. The company was founded in 2011 and is based in Wilsonville, Oregon.
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