ESS Tech Inc. [GWH] Stock trading around $5.60 per share: What’s Next?


ESS Tech Inc. [NYSE: GWH] stock went on an upward path that rose over 4.67% on Wednesday, amounting to a one-week price increase of more than 3.90%. The company report on March 16, 2022 that ESS Launches in Europe to Meet Demand for Long-Duration Energy Storage.

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ESS Appoints European Leadership and Initiates Deployment of Safe Iron-Flow Batteries to Fulfill European Energy StorageRequirement of up to 20 TWh, to Achieve Grid Net-Zero by 2040.

ESS Tech, Inc. (NYSE: GWH), a U.S. manufacturer of long-duration batteries for utility-scale and commercial energy storage applications, today announces the expansion of its operations into Europe to meet strong demand in the region for the company’s long-duration energy storage (LDES) solutions.

Over the last 12 months, GWH stock dropped by -42.92%. The one-year ESS Tech Inc. stock forecast points to a potential upside of 67.82. The average equity rating for GWH stock is currently 1.40, trading closer to a bullish pattern in the stock market.

The market cap for the stock reached $825.83 million, with 31.25 million shares outstanding. Compared to the average trading volume of 837.88K shares, GWH stock reached a trading volume of 3209970 in the most recent trading day, which is why market watchdogs consider the stock to be active.

Guru’s Opinion on ESS Tech Inc. [GWH]:

Based on careful and fact-backed analyses by Wall Street experts, the current consensus on the target price for GWH shares is $17.40 per share. Analysis on target price and performance of stocks is usually carefully studied by market experts, and the current Wall Street consensus on GWH stock is a recommendation set at 1.40. This rating represents a strong Buy recommendation, on the scale from 1 to 5, where 5 would mean strong sell, 4 represents Sell, 3 is Hold, and 2 indicates Buy.

Guggenheim have made an estimate for ESS Tech Inc. shares, keeping their opinion on the stock as Buy, with their previous recommendation back on March 22, 2022. While these analysts kept the previous recommendation, Robert W. Baird raised their target price to Outperform. The new note on the price target was released on December 22, 2021, representing the official price target for ESS Tech Inc. stock. Previously, the target price had yet another raise to $28, while Oppenheimer analysts kept a Outperform rating on GWH stock.

The Average True Range (ATR) for ESS Tech Inc. is set at 0.49 The Price to Book ratio for the last quarter was 0.80, with the Price to Cash per share for the same quarter was set at 0.00.

GWH Stock Performance Analysis:

ESS Tech Inc. [GWH] gain into the green zone at the end of the last week, gaining into a positive trend and gaining by 3.90. With this latest performance, GWH shares gained by 12.00% in over the last four-week period, additionally sinking by -43.92% over the last 6 months – not to mention a drop of -42.92% 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 55.97, with the RSI for the last a single of trading hit 62.53, and the three-weeks RSI is set at 49.81 for ESS Tech Inc. [GWH]. The present Moving Average for the last 50 days of trading for this stock 5.17, while it was recorded at 5.52 for the last single week of trading, and 10.25 for the last 200 days.

Insight into ESS Tech Inc. Fundamentals:

Return on Equity for this stock declined to -224.13, with Return on Assets sitting at -190.46.

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.

ESS Tech Inc. [GWH] Insider Position Details

There are presently around $291 million, or 38.40% of GWH stock, in the hands of institutional investors. The top three institutional holders of GWH stocks are: SOFTBANK GROUP CORP with ownership of 35,953,699, which is approximately New of the company’s market cap and around 21.80% of the total institutional ownership; FMR LLC, holding 11,440,288 shares of the stock with an approximate value of $61.21 million in GWH stocks shares; and INVESCO LTD., currently with $8.56 million in GWH stock with ownership of nearly New of the company’s market capitalization.

Positions in ESS Tech Inc. stocks held by institutional investors increased at the end of February and at the time of the February reporting period, where 50 institutional holders increased their position in ESS Tech Inc. [NYSE:GWH] by around 53,888,148 shares. Additionally, 34 investors decreased positions by around 13,638,569 shares, while 2 investors held positions by with 13,131,711 shares. The mentioned changes placed institutional holdings at 54,395,006 shares, according to the latest SEC report filing. GWH stock had 42 new institutional investments in for a total of 53,413,652 shares, while 30 institutional investors sold positions of 11,998,102 shares during the same period.