Investors can expect a company’s stock to rise or fall based on the buying and selling of stock by its insiders. ESS Tech Inc. shares valued at $29,199 were sold by Moftakhar Amir on Oct 19. At $3.48 per share, Moftakhar Amir sold 8,386 shares. The insider’s holdings dropped to 558,850 shares worth approximately $2.26 million following the completion of this transaction.
Do You Own These 7 Inflation-Survival Stocks?
Inflation is still near 40-year highs and rising prices are putting a big dent in our wallets. Unless you find out how to protect your portfolio and outpace inflation, you'll keep being at the mercy of economic factors out of your control. Especially since the price of electricity, food, and shelter are creeping up higher than ever. In this special report, I detail 7 stocks to help you survive and thrive in today's market. They're backed by solid companies, positioned to profit during tough economic times, and offer out-sized dividends to help you outpace inflation.
Click here to get your free copy of the report
Also, Moftakhar Amir sold 63,205 shares, netting a total of over 254,413 in proceeds. Following the sale of shares at $4.03 each, the insider now holds 583,956 shares.
Before that, Evans Craig E had sold 12,628 shares from its account. In a trade valued at $46,976, the President traded ESS Tech Inc. shares for $3.72 each. Upon closing the transaction, the insider’s holdings decreased to 12,628 shares, worth approximately $9.91 million.
Analysts at Chardan Capital Markets started covering the stock with ‘”a Neutral”‘ outlook in a report released in late June. As of March 31, 2022, Deutsche Bank has initiated its “Hold” rating for GWH. Earlier on March 22, 2022, Guggenheim initiated its rating. Their recommendation was “a Buy” for GWH stock.
Analyzing GWH Stock Performance
On Thursday, ESS Tech Inc. [NYSE: GWH] rose 3.86% to $4.04. The stock’s lowest price that day was $3.8843, but it reached a high of $4.21 in the same session. During the last five days, there has been a surge of approximately 3.59%. Over the course of the year, ESS Tech Inc. shares have dropped approximately -64.69%. Shares of the company reached a 52-week high of $11.93 on 01/03/22 and a 52-week low of $2.59 on 07/05/22. A 50-day SMA is recorded $4.12, while a 200-day SMA reached $4.48. Nevertheless, trading volume fell to 1.22 million shares from 0.83 million shares the previous day.
Support And Resistance Levels for ESS Tech Inc. (GWH)
According to the 24-hour chart, there is a support level at 3.88, which, if violated, would cause prices to drop to 3.72. In the upper region, resistance lies at 4.21. The next price resistance is at 4.37. RSI (Relative Strength Index) is 50.98 on the 14-day chart, showing neutral technical sentiment. Moving Average Convergence Divergence (MACD) is at 0.21, which suggests the price will decrease in the coming days. Percent R is at 29.82%, indicating bullish price movement. Stochastics %K at holding indicates that the stock is to be held.
Is ESS Tech Inc. subject to short interest?
Stocks of ESS Tech Inc. saw a sharp rise in short interest on Jul 14, 2022 jumping by 1.87 million shares to 7.09 million. Data from Yahoo Finance shows that the short interest on Jun 14, 2022 was 5.22 million shares. A jump of 26.38% in short interest reflects a positive sentiment towards the stock. Despite the fact that short shares comprise just 4.44 of the overall float, the days-to-cover ratio (short ratio) jumped to 4.44.
Which companies own the most shares of ESS Tech Inc. (GWH)?
According to BlackRock Fund Advisors filings, the company currently owns 4,164,026 shares, which is about 2.72% of the total GWH shares outstanding. The investor’s shares have appreciated by 3,483,567 from its previous 13-F filing of 680459.0 shares. With the completion of the buy transaction, Invesco Capital Management LLC’s stake is now worth $15,342,019. The Vanguard Group, Inc. acquire a 66.21% interest valued at $11.88 million while Fidelity Management & Research Co sold a -7,064,316 stake. A total of 1,998,500 shares of ESS Tech Inc. were sold by Legal & General Investment Manage during the quarter, and 0 by GO ETF Solutions LLP. In its current portfolio, Koch Industries, Inc. holds 1,969,900 shares valued at $8.06 million.