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ESS Tech Inc. (NYSE:GWH) Could Shrink By -62.76% Or More

In last trading session, ESS Tech Inc. (NYSE:GWH) saw 1.07 million shares changing hands with its beta currently measuring 0. Company’s recent per share price level of $4.26 trading at $0.0 or 0.00% at ring of the bell on the day assigns it a market valuation of $638.11M. That closing price of GWH’s stock is at a discount of -578.87% from its 52-week high price of $28.92 and is indicating a premium of 39.2% from its 52-week low price of $2.59. Taking a look at company’s average trading volume for last 10-days demonstrates a volume of 1.43 million shares which gives us an average trading volume of 1.25 million if we extend that period to 3-months.

For ESS Tech Inc. (GWH), analysts’ consensus is at an average recommendation of an Overweight while assigning it a mean rating of 2.00. Splitting up the data highlights that, out of 7 analysts covering the stock, 0 rated the stock as a Sell while 1 recommended an Overweight rating for the stock. 3 suggested the stock as a Hold whereas 3 see the stock as a Buy. 0 analyst(s) advised it as an Underweight. The company is expected to be making an EPS of -$0.15 in the current quarter.

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ESS Tech Inc. (NYSE:GWH) trade information

GWH remained trading in the red while hitting it’s week-highest on Thursday, 09/15/22 when the stock touched $4.26 price level, adding 16.63% to its value on the day. ESS Tech Inc.’s shares saw a change of -62.76% in year-to-date performance and have moved -6.99% in past 5-day. ESS Tech Inc. (NYSE:GWH) showed a performance of 7.30% in past 30-days. Number of shares sold short was 7.09 million shares which calculate 4.44 days to cover the short interests.

Wall Street analysts have assigned a consensus price target of $8.57 to the stock, which implies a rise of 50.29% to its current value. Analysts have been projecting $4.00 as a low price target for the stock while placing it at a high target of $23.00. It follows that stock’s current price would drop -439.91% in reaching the projected high whereas dropping to the targeted low would mean a gain of 6.1% for stock’s current value.

ESS Tech Inc. (GWH) estimates and forecasts

Statistics highlight that ESS Tech Inc. is scoring comparatively higher than the scores of other players of the relevant industry. The company lost -21.11% of value to its shares in past 6 months, showing an annual growth rate of 33.78% while that of industry is 8.50. Apart from that, the company came raising its revenue forecast for fiscal year 2022.

5 industry analysts have given their estimates about the company’s current quarter revenue by setting an average figure of $450k for the same. And 6 analysts are in estimates of company making revenue of $1.17 million in the next quarter that will end on Sep 2022.

GWH Dividends

ESS Tech Inc. is more likely to be releasing its next quarterly report between March 29 and April 04 and investors are confident in the company announcing better current-quarter dividends despite the fact that it has been facing issues arising out of mounting debt.

ESS Tech Inc. (NYSE:GWH)’s Major holders

Insiders are in possession of 45.92% of company’s total shares while institution are holding 40.25 percent of that, with stock having share float percentage of 74.42%. Investors also watch the number of corporate investors in a company very closely, which is 40.25% institutions for ESS Tech Inc. that are currently holding shares of the company. Softbank Group Corporation is the top institutional holder at GWH for having 35.95 million shares of worth $153.16 million. And as of Jun 29, 2022, it was holding 23.46% of the company’s outstanding shares.

The second largest institutional holder is Blackrock Inc., which was holding about 4.57 million shares on Jun 29, 2022. The number of shares represents firm’s hold over 2.98% of outstanding shares, having a total worth of $19.47 million.

On the other hand, Invesco ETF Tr-Invesco Wilderhill Clean Energy ETF and iShares Russell 2000 ETF are the top two Mutual Funds which own company’s shares. As of Aug 30, 2022, the former fund manager was holding 3.63 million shares of worth $15.45 million or 2.37% of the total outstanding shares. The later fund manager was in possession of 1.64 million shares on Aug 30, 2022, making its stake of worth around $7.0 million in the company or a holder of 1.07% of company’s stock.

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