Home Stock Earnings Taking a Closer Look At ESS Tech Inc. (GWH) Following Its Recent Trade

Taking a Closer Look At ESS Tech Inc. (GWH) Following Its Recent Trade

Taking a Closer Look At ESS Tech Inc. (GWH) Following Its Recent Trade
EURN Stock

ESS Tech Inc.’s recently made public that its Chief Financial Officer Moftakhar Amir unloaded Company’s shares for reported $29199.0 on Oct 19. In the deal valued at $3.48 per share,8,386 shares were sold. As a result of this transaction, Moftakhar Amir now holds 558,850 shares worth roughly $ 2.23 million.

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Then, Evans Craig E sold 12,628 shares, generating $46,976 in total proceeds. Upon selling the shares at $3.72, the President now owns 2,453,439 shares.

Before that, Evans Craig E sold 16,340 shares. ESS Tech Inc. shares valued at $60,785 were divested by the President at a price of $3.72 per share. As a result of the transaction, Evans Craig E now holds 5,625,277 shares, worth roughly $22.44 million.

PT values the company’s stock at a premium of -6.4 to its Monday closing price. A number of analysts have revised their coverage, including Chardan Capital Markets’s analysts, who began to cover the stock in late June with a ‘”a Neutral”‘ rating. Deutsche Bank began covering GWH with “Hold” recommendation on March 31, 2022. Guggenheim started covering the stock on March 22, 2022. It rated GWH as “a Buy”.

Price Performance Review of GWH

On Monday, ESS Tech Inc. [NYSE:GWH] saw its stock jump 7.84% to $3.99. On the same session, the stock had its day’s lowest price of $3.60, but rose to a high of $3.99. Over the last five days, the stock has lost -5.67%. ESS Tech Inc. shares have fallen nearly -65.12% since the year began. Nevertheless, the stocks have fallen -78.72% over the past one year. While a 52-week high of $21.37 was reached on 01/03/22, a 52-week low of $2.59 was recorded on 07/05/22. SMA at 50 days reached $4.10, while 200 days put it at $4.45. A total of 1.13 million shares were traded, compared to the trading of 1.19 million shares in the previous session.

Levels Of Support And Resistance For GWH Stock

The 24-hour chart illustrates a support level at 3.73, which if violated will result in even more drops to 3.47. On the upside, there is a resistance level at 4.12. A further resistance level may holdings at 4.25. The Relative Strength Index (RSI) on the 14-day chart is 50.32, which indicates neutral technical sentiment, while the Moving Average Convergence Divergence (MACD) stands at 0.07, which suggests price will go down in the next trading period. Percent R suggests that price movement has been low at 34.21%. Stochastics %K at 58.77% indicates the stock is a holding.

How much short interest is there in ESS Tech Inc.?

A steep rise in short interest was recorded in ESS Tech Inc. stocks on Jul 14, 2022, growing by 1.87 million shares to a total of 7.09 million shares. Yahoo Finance data shows the prior-month short interest on Jun 14, 2022 was 5.22 million shares. There was a rise of 26.38%, which implies that there is a positive sentiment for the stock. In spite of short shares comprising just 7.94% of the overall stock float, the days-to-cover ratio (short ratio) rose to 4.44.

ESS Tech Inc. [GWH] – Who Are The Largest Shareholders?

In filings from BlackRock Fund Advisors, it is revealed that the company now owns 4,164,026 shares, or roughly 2.72% of the outstanding GWH shares. In other words, the investor’s shares have risen by 3,483,567 from its previous 13-F filing of 680459.0. Additionally, Invesco Capital Management LLC increased 17.00% of its stake after which the total value it holdings stand at $15,342,019, while The Vanguard Group, Inc. added 66.21% of its stake to hold $11.88 million in the firm. Over the last quarter, Fidelity Management & Research Co sold -7,064,316 shares of ESS Tech Inc., while Legal & General Investment Manage sold 1,998,500 shares. At present, GO ETF Solutions LLP is holding 1,970,637 shares valued at $8.06 million. Koch Industries, Inc. owned 1,969,900 shares of the company at the time of its most recent 13F filing, worth $8.06 million.

According to FactSet, ESS Tech Inc.’s share price will average $8.06 in the next year, based on opinions of analysts polled by the firm. This is up nearly 75.68 percent from its previous closing price of $3.70. Analysts expect ESS Tech Inc. stock to reach the higher price of $23.00, while the lowest price estimate is $4.00. However, 8 analysts have rated GWH stock as an Overweight in their predictions for 2022. The most recent change occurred on December 22, 2021 when Robert W. Baird began covering the stock and recommended ‘”an Outperform”‘ rating along with a $15 price target.


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