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New Big Money Means ESS Tech Inc. (GWH) Investors Could Reap Benefit

ESS Tech Inc. (NYSE: GWH) is -62.76% lower on its value in year-to-date trading and has touched a low of $2.59 and a high of $28.92 in the current 52-week trading range. The question becomes, what are the chances the stock will make a comeback and enjoy potential growth. Why not look at analysts view on what the future holds for the stock. The GWH stock was last observed hovering at around $4.26 in the last trading session, with the day’s loss setting it 0.0% off its average median price target of $7.00 for the next 12 months. It is also 81.48% off the consensus price target high of $23.00 offered by 7 analysts, but current levels are -6.5% lower than the price target low of $4.00 for the same period.

Currently trading at $4.26, the stock is 0.54% and 6.23% above its SMA20 and SMA50 respectively. However, with a daily trading volume of 1.07 million and changing 0.00% at the moment leaves the stock -25.37% off its SMA200. GWH registered -57.31% loss for a year compared to 6-month loss of -21.11%.

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The stock witnessed a 7.30% gain in the last 1 month and extending the period to 3 months gives it a 19.66%, and is -6.99% down over the last 5 days. If we measure the stock’s price variations over the week and the month, we find that the volatility rates stand at 10.60% over the week and 9.65% over the month.

ESS Tech Inc. (GWH) has around 160 employees, a market worth around $638.11M and $0.70M in sales. Distance from 52-week low is 64.48% and -85.27% from its 52-week high.

ESS Tech Inc. (GWH) Analyst Forecasts

Analyst recommendations provided by FactSet shows that the consensus forecast for ESS Tech Inc. (GWH) is a “Overweight”. 7 analysts offering their recommendations for the stock have an average rating of 2.00, where 3 rate it as a Hold and 1 think it is a “Overweight”. 3 of the analysts rate the stock as a “Buy”. 0 analysts have rated the stock as a Sell or Underperform.

ESS Tech Inc. is expected to release its quarterly report on 11/14/2022.The EPS is expected to grow by 27.00% this year

ESS Tech Inc. (GWH) Top Institutional Holders

The shares outstanding are 152.72M, and float is at 82.89M with Short Float at 7.99%.

ESS Tech Inc. (GWH) Insider Activity

A total of 6 insider transactions have happened at ESS Tech Inc. (GWH) in the last six months, with sales accounting for 0 and purchases happening 6 times. The most recent transaction is an insider purchase by NIGGLI MICHAEL R, the company’s Director. SEC filings show that NIGGLI MICHAEL R bought 20,000 shares of the company’s common stock on Mar 01 at a price of $5.01 per share for a total of $0.1 million. Following the purchase, the insider now owns 0.53 million shares.

ESS Tech Inc. disclosed in a document filed with the SEC on Jan 24 that Evans Craig E (President) sold a total of 1,342 shares of the company’s common stock. The trade occurred on Jan 24 and was made at $6.05 per share for $8123.0. Following the transaction, the insider now directly holds 5.37 million shares of the GWH stock.

Still, SEC filings show that on Jan 24, Dresselhuys Eric P. (Chief Executive Officer) disposed off 59,642 shares at an average price of $6.05 for $0.36 million. The insider now directly holds 869,170 shares of ESS Tech Inc. (GWH).

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