Robert W. Baird lifts ESS Tech Inc. [GWH] price estimate. Who else is bullish?



ESS Tech Inc. [NYSE: GWH] plunged by -$0.54 during the normal trading session on Thursday and reaching a high of $12.18 during the day while it closed the day at $11.64. The company report on December 20, 2021 that ESS Iron Flow Batteries Getting Installed as Part of SDG&E’s Innovative Microgrid to Supply Fire-Prone Community with Safe, Clean Sustainable Energy.

Solar power and non-flammable long-duration energy storage will support critical facilities during emergencies.

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ESS Tech, Inc. (“ESS,” “ESS Inc.”) (NYSE: GWH), a U.S. manufacturer of long-duration batteries for utility-scale and commercial energy storage applications, announced today that its iron flow batteries are being deployed by San Diego Gas & Electric (SDG&E) in a microgrid project that will strengthen community resilience and back up critical resources in the town of Cameron Corners, California.

ESS Tech Inc. stock has also loss -8.13% of its value over the past 7 days. However, GWH stock has inclined by 16.75% in the 3 months of the year. Over the past six months meanwhile, it has gained 17.46% and gained 15.48% year-on date.

The market cap for GWH stock reached $1.58 billion, with 31.25 million shares outstanding. Compared to the average trading volume of 2.37M shares, GWH reached a trading volume of 2870639 in the most recent trading day, which is why market watchdogs consider the stock to be active.

Here’s what leading stock market gurus have to say about ESS Tech Inc. [GWH]:

Robert W. Baird have made an estimate for ESS Tech Inc. shares, keeping their opinion on the stock as Outperform, with their previous recommendation back on December 22, 2021. While these analysts kept the previous recommendation, Oppenheimer raised their target price to Outperform. The new note on the price target was released on December 03, 2021, representing the official price target for ESS Tech Inc. stock. Previously, the target price had yet another raise to $18.50, while Canaccord Genuity analysts kept a Buy rating on GWH stock.

The Average True Range (ATR) for ESS Tech Inc. is set at 0.96 The Price to Book ratio for the last quarter was 1.66, with the Price to Cash per share for the same quarter was set at 0.00.

GWH stock trade performance evaluation

ESS Tech Inc. [GWH] fell into the red zone at the end of the last week, falling into a negative trend and dropping by -8.13. With this latest performance, GWH shares dropped by -27.02% in over the last four-week period, additionally plugging by 17.46% over the last 6 months – not to mention a rise of 13.45% in the past year of trading.

Overbought and oversold stocks can be easily traced with the Relative Strength Index (RSI), where an RSI result of over 70 would be overbought, and any rate below 30 would indicate oversold conditions. An RSI rate of 50 would represent a neutral market momentum. The current RSI for GWH stock in for the last two-week period is set at 36.26, with the RSI for the last a single of trading hit 32.74, and the three-weeks RSI is set at 39.89 for ESS Tech Inc. [GWH]. The present Moving Average for the last 50 days of trading for this stock 15.13, while it was recorded at 12.65 for the last single week of trading, and 11.44 for the last 200 days.

ESS Tech Inc. [GWH]: An insightful look at the core fundamentals

Reflecting on the efficiency of the workforce at the company, ESS Tech Inc. [GWH] managed to generate an average of -$1,647,132 per employee.ESS Tech Inc.’s liquidity data is similarly interesting compelling, with a Quick Ratio of 0.10 and a Current Ratio set at 0.10.

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ESS Tech Inc. [GWH]: Insider Ownership positions

There are presently around $167 million, or 9.50% of GWH stock, in the hands of institutional investors. The top three institutional holders of GWH stocks are: GLAZER CAPITAL, LLC with ownership of 1,764,496, which is approximately 93.898% of the company’s market cap and around 21.70% of the total institutional ownership; BANK OF MONTREAL /CAN/, holding 1,202,337 shares of the stock with an approximate value of $14.64 million in GWH stocks shares; and ARENA CAPITAL ADVISORS, LLC- CA, currently with $12.16 million in GWH stock with ownership of nearly -0.134% of the company’s market capitalization.

Positions in ESS Tech Inc. stocks held by institutional investors increased at the end of November and at the time of the November reporting period, where 21 institutional holders increased their position in ESS Tech Inc. [NYSE:GWH] by around 2,270,567 shares. Additionally, 44 investors decreased positions by around 9,913,300 shares, while 11 investors held positions by with 1,561,654 shares. The mentioned changes placed institutional holdings at 13,745,521 shares, according to the latest SEC report filing. GWH stock had 8 new institutional investments in for a total of 342,157 shares, while 32 institutional investors sold positions of 8,272,399 shares during the same period.