Roth MKM analyst Justin Clare maintains $ESS Tech (GWH.US)$ with a buy rating, and adjusts the target price from $22.5 to $17.
According to TipRanks data, the analyst has a success rate of 44.0% and a total average return of -1.9% over the past year.
Furthermore, according to the comprehensive report, the opinions of $ESS Tech (GWH.US)$'s main analysts recently are as follows:
The firm is taking a cautious stance on ESS Tech, citing the company's current evaluation of financing options as a reason for seeking more clarity on its capital structure and consistency in delivery schedules. Despite this, there remains a strong market need for long-duration storage technologies, and it is believed that ESS Tech will establish itself as a long-term frontrunner in this sector.
Market conditions and a pace of adoption that is slower than anticipated have led to a more negative outlook on ESS Tech's shares. The company's Q3 outcomes fell short of estimates primarily because of project delays, which postponed revenue recognition into the following quarter. Signs of heightened adoption and installations, along with further financing, would be necessary to consider the purchase of the shares.
Note:
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Success rate is the number of the analyst's successful ratings, divided by his/her total number of ratings over the past year. A successful rating is one based on if TipRanks' virtual portfolio earned a positive return from the stock. Total average return is the average rate of return that the TipRanks' virtual portfolio has earned over the past year. These portfolios are established based on the analyst's preliminary rating and are adjusted according to the changes in the rating.
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