TD Cowen analyst Thomas Boyes maintains $ESS Tech (GWH.US)$ with a buy rating, and adjusts the target price from $22.5 to $10.
According to TipRanks data, the analyst has a success rate of 22.2% and a total average return of -16.6% over the past year.
Furthermore, according to the comprehensive report, the opinions of $ESS Tech (GWH.US)$'s main analysts recently are as follows:
Concerns have arisen as the company indicates it is considering various financing avenues, prompting a more cautious stance while seeking further clarity on its capital structure and the reliability of its delivery timelines. Nonetheless, the importance of long-duration storage technologies remains clear, and it is believed that the company will establish itself as a long-term frontrunner in this sector.
Market conditions and a slower than anticipated uptake have led to a more negative outlook on ESS Tech's shares. The company's Q3 results fell short of expectations, primarily as a result of project delays that deferred revenue to the following quarter. Increased adoption and installations, along with further financing, are factors to consider before purchasing the company's 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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