ESS Tech Inc. [GWH] Is Currently -7.69 below its 200 Period Moving Avg: What Does This Mean?

ESS Tech Inc. [NYSE: GWH] price plunged by -7.69 percent to reach at -$0.22. The company report on November 10, 2022 that Consumers Energy Taps ESS Inc. Long-Duration Storage Solution for Solar and Storage Microgrid Project.


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ESS Energy Warehouse™ will deliver resilient energy infrastructure.

ESS Inc. (NYSE: GWH), a leading manufacturer of long-duration iron flow batteries for commercial and utility-scale energy storage applications, has been selected by Consumers Energy, Michigan’s largest energy provider, to provide a battery system for a solar and storage microgrid. Consumers Energy will deploy ESS’s Energy Warehouse platform as part of a microgrid powering a gas compression facility in Michigan.

A sum of 4341883 shares traded at recent session while its average daily volume was at 1.37M shares. ESS Tech Inc. shares reached a high of $2.84 and dropped to a low of $2.52 until finishing in the latest session at $2.64.

The one-year GWH stock forecast points to a potential upside of 67.25. The average equity rating for GWH stock is currently 2.00, trading closer to a bullish pattern in the stock market.

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 $8.06 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 2.00. 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.

Canaccord Genuity have made an estimate for ESS Tech Inc. shares, keeping their opinion on the stock as Hold, with their previous recommendation back on July 13, 2022. While these analysts kept the previous recommendation, Chardan Capital Markets raised their target price to Neutral. The new note on the price target was released on June 29, 2022, representing the official price target for ESS Tech Inc. stock. Previously, the target price had yet another raise to $7, while Deutsche Bank analysts kept a Hold rating on GWH stock.

The Average True Range (ATR) for ESS Tech Inc. is set at 0.32, with the Price to Sales ratio for GWH stock in the period of the last 12 months amounting to 409.61. The Price to Book ratio for the last quarter was 2.54, with the Price to Cash per share for the same quarter was set at 1.19.

GWH Stock Performance Analysis:

ESS Tech Inc. [GWH] fell into the red zone at the end of the last week, falling into a negative trend and dropping by -18.01. With this latest performance, GWH shares dropped by -33.83% in over the last four-week period, additionally sinking by -30.16% over the last 6 months – not to mention a drop of -81.05% 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 33.65, with the RSI for the last a single of trading hit 28.51, and the three-weeks RSI is set at 37.30 for ESS Tech Inc. [GWH]. The present Moving Average for the last 50 days of trading for this stock 3.78, while it was recorded at 3.05 for the last single week of trading, and 4.26 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 7.70 and a Current Ratio set at 7.70.

ESS Tech Inc. [GWH] Insider Position Details

There are presently around $170 million, or 39.50% 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 0% of the company’s market cap and around 5.30% of the total institutional ownership; BLACKROCK INC., holding 4,626,606 shares of the stock with an approximate value of $12.21 million in GWH stocks shares; and VANGUARD GROUP INC, currently with $8.69 million in GWH stock with ownership of nearly 7.123% 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 40 institutional holders increased their position in ESS Tech Inc. [NYSE:GWH] by around 5,866,803 shares. Additionally, 46 investors decreased positions by around 3,879,054 shares, while 26 investors held positions by with 54,812,596 shares. The mentioned changes placed institutional holdings at 64,558,453 shares, according to the latest SEC report filing. GWH stock had 14 new institutional investments in for a total of 4,216,732 shares, while 18 institutional investors sold positions of 1,391,710 shares during the same period.

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