Fmr LLC Sells 751,764 Shares of ESS Tech, Inc. (NYSE:GWH)

Fmr LLC trimmed its position in ESS Tech, Inc. (NYSE:GWH) by 93.5% during the third quarter, according to its most recent 13F filing with the SEC. The fund owned 52,485 shares of the company’s stock after selling 751,764 shares during the period. Fmr LLC’s holdings in ESS Tech were worth $332,000 as of its most recent filing with the SEC.

Other hedge funds and other institutional investors also recently made changes to their positions in the company. Vanguard Personalized Indexing Management LLC acquired a new position in shares of ESS Tech during the second quarter valued at $27,000. Point72 DIFC Ltd bought a new stake in ESS Tech during the 2nd quarter worth about $32,000. AQR Capital Management LLC bought a new stake in ESS Tech during the 2nd quarter worth about $84,000. Finally, Point72 Asia Singapore Pte. Ltd. acquired a new position in ESS Tech during the 2nd quarter valued at about $148,000. 46.77% of the stock is owned by institutional investors and hedge funds.

Analyst Ratings Changes

GWH has been the subject of several analyst reports. Robert W. Baird cut shares of ESS Tech from a “neutral” rating to an “underperform” rating and lowered their price target for the stock from $14.00 to $9.00 in a research report on Thursday, November 14th. Oppenheimer lowered shares of ESS Tech from an “outperform” rating to a “market perform” rating in a report on Thursday, November 14th. Baird R W downgraded ESS Tech from a “strong-buy” rating to a “strong sell” rating in a research note on Thursday, November 14th. Finally, Canaccord Genuity Group reaffirmed a “hold” rating and set a $8.00 price objective on shares of ESS Tech in a research note on Thursday, November 14th. Two equities research analysts have rated the stock with a sell rating, four have given a hold rating, two have given a buy rating and one has issued a strong buy rating to the company. According to data from MarketBeat.com, the stock currently has a consensus rating of “Hold” and a consensus target price of $14.58.

ESS Tech Stock Up 5.4 %

Shares of NYSE GWH opened at $4.66 on Friday. ESS Tech, Inc. has a twelve month low of $4.35 and a twelve month high of $18.00. The company’s fifty day moving average is $6.74 and its 200-day moving average is $8.47. The stock has a market cap of $55.37 million, a price-to-earnings ratio of -0.71 and a beta of 1.33.

About ESS Tech

ESS Tech, Inc, an energy storage company, designs and produces iron flow batteries for commercial and utility-scale energy storage applications worldwide. It offers energy storage products, which include Energy Warehouse, a behind-the-meter solution; and Energy Center, a front-of-the-meter solution. The company was founded in 2011 and is headquartered in Wilsonville, Oregon.