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ESS Tech Inc. (GWH) – Don’t Believe the Hype: Check The Facts

ESS Tech Inc. (NYSE: GWH) is -55.97% lower on its value in year-to-date trading and has touched a low of $1.02 and a high of $6.28 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 $1.08 in the last trading session, with the day’s loss setting it -0.01% off its average median price target of $4.00 for the next 12 months. It is also 90.27% off the consensus price target high of $11.00 offered by 9 analysts, but current levels are 40.56% higher than the price target low of $1.80 for the same period.

Currently trading at $1.07, the stock is -36.87% and -48.11% below its SMA20 and SMA50 respectively. However, with a daily trading volume of 1.19 million and changing -0.93% at the moment leaves the stock -67.31% off its SMA200. GWH registered -74.94% loss for a year compared to 6-month loss of -75.17%.

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The stock witnessed a -48.80% gain in the last 1 month and extending the period to 3 months gives it a -58.37%, and is -18.94% 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 12.50% over the week and 10.60% over the month.

ESS Tech Inc. (GWH) has around 271 employees, a market worth around $181.61M and $0.90M in sales. Distance from 52-week low is 4.90% and -82.96% from its 52-week high. The company has generated returns on investments over the last 12 months (-75.90%).

ESS Tech Inc. (GWH) Analyst Forecasts

Analyst recommendations provided by FactSet shows that the consensus forecast for ESS Tech Inc. (GWH) is a “Overweight”. 9 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”. 5 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 05/11/2023.The EPS is expected to grow by 91.10% this year

ESS Tech Inc. (GWH) Top Institutional Holders

The shares outstanding are 153.42M, and float is at 84.82M with Short Float at 10.01%.

ESS Tech Inc. (GWH) Insider Activity

A total of 19 insider transactions have happened at ESS Tech Inc. (GWH) in the last six months, with sales accounting for 18 and purchases happening 1 times. The most recent transaction is an insider purchase by Teamey Kyle, the company’s Director. SEC filings show that Teamey Kyle bought 2,500 shares of the company’s common stock on Mar 07 at a price of $1.60 per share for a total of $4012.0. Following the purchase, the insider now owns 31986.0 shares.

ESS Tech Inc. disclosed in a document filed with the SEC on Mar 06 that NIGGLI MICHAEL R (Director) bought a total of 5,000 shares of the company’s common stock. The trade occurred on Mar 06 and was made at $1.65 per share for $8250.0. Following the transaction, the insider now directly holds 0.58 million shares of the GWH stock.

Still, SEC filings show that on Feb 21, Dresselhuys Eric P. (Chief Executive Officer) disposed off 23,440 shares at an average price of $2.04 for $47818.0. The insider now directly holds 1,344,080 shares of ESS Tech Inc. (GWH).

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