ESS Tech Inc. [GWH] Is Currently 2.65 below its 200 Period Moving Avg: What Does This Mean?

ESS Tech Inc. [NYSE: GWH] price surged by 2.65 percent to reach at $0.03. The company report on March 20, 2023 that ESS Batteries Achieve Additional UL Safety Certification.

UL 1973 certification affirms safety profile of company’s battery technology.

ESS Tech Inc. (“ESS”) (NYSE:GWH), a leading manufacturer of flexible, sustainable and responsible long-duration energy storage systems for commercial and utility-scale applications, today announced certification of its S200 battery modules to the Underwriters Laboratories’ (UL) 1973 standard.

A sum of 2287067 shares traded at recent session while its average daily volume was at 1.37M shares. ESS Tech Inc. shares reached a high of $1.27 and dropped to a low of $1.13 until finishing in the latest session at $1.16.

The one-year GWH stock forecast points to a potential upside of 77.21. 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 $5.09 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 0.13, with the Price to Sales ratio for GWH stock in the period of the last 12 months amounting to 187.84. The Price to Book ratio for the last quarter was 1.30, with the Price to Cash per share for the same quarter was set at 0.96.

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 13.73. With this latest performance, GWH shares dropped by -27.95% in over the last four-week period, additionally sinking by -74.28% over the last 6 months – not to mention a drop of -78.32% 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 39.91, with the RSI for the last a single of trading hit 46.10, and the three-weeks RSI is set at 38.05 for ESS Tech Inc. [GWH]. The present Moving Average for the last 50 days of trading for this stock 1.7540, while it was recorded at 1.0960 for the last single week of trading, and 3.1093 for the last 200 days.

Insight into ESS Tech Inc. Fundamentals:

Operating Margin for any stock indicates how profitable investing would be, and ESS Tech Inc. [GWH] shares currently have an operating margin of -11800.00 and a Gross Margin at -197.20. ESS Tech Inc.’s Net Margin is presently recorded at -8721.36.

Return on Total Capital for GWH is now -59.98, given the latest momentum, and Return on Invested Capital for the company is -44.96. Return on Equity for this stock declined to -45.58, with Return on Assets sitting at -36.80. When it comes to the capital structure of this company, ESS Tech Inc. [GWH] has a Total Debt to Total Equity ratio set at 4.29. Additionally, GWH Total Debt to Total Capital is recorded at 4.11, with Total Debt to Total Assets ending up at 3.38. Long-Term Debt to Equity for the company is recorded at 2.08, with the Long-Term Debt to Total Capital now at 2.00.

Reflecting on the efficiency of the workforce at the company, ESS Tech Inc. [GWH] managed to generate an average of -$287,708 per employee. Receivables Turnover for the company is 0.36 with a Total Asset Turnover recorded at a value of 0.00.ESS Tech Inc.’s liquidity data is similarly interesting compelling, with a Quick Ratio of 5.40 and a Current Ratio set at 5.40.

ESS Tech Inc. [GWH] Insider Position Details

There are presently around $75 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 4,818,853 shares of the stock with an approximate value of $5.45 million in GWH stocks shares; and INVESCO LTD., currently with $4.9 million in GWH stock with ownership of nearly 32.194% of the company’s market capitalization.

Positions in ESS Tech Inc. stocks held by institutional investors increased at the end of Wednesday and at the time of the Wednesday reporting period, where 64 institutional holders increased their position in ESS Tech Inc. [NYSE:GWH] by around 6,434,333 shares. Additionally, 44 investors decreased positions by around 2,386,667 shares, while 25 investors held positions by with 57,839,069 shares. The mentioned changes placed institutional holdings at 66,660,069 shares, according to the latest SEC report filing. GWH stock had 38 new institutional investments in for a total of 3,334,854 shares, while 21 institutional investors sold positions of 1,401,457 shares during the same period.