Deutsche Bank analyst Corinne Blanchard maintains $ESS Tech (GWH.US)$ with a hold rating, and adjusts the target price from $13.5 to $8.5.
According to TipRanks data, the analyst has a success rate of 26.6% and a total average return of -17.6% over the past year.
Furthermore, according to the comprehensive report, the opinions of $ESS Tech (GWH.US)$'s main analysts recently are as follows:
The firm is adopting a cautious stance on ESS Tech due to indications that the company is exploring financing possibilities. There's an observed preference to wait for more definitive information regarding the company's capital structure and delivery timelines. Nonetheless, there is recognition of the substantial market demand for long-duration storage solutions, and the belief persists that ESS Tech is well-positioned to become a dominant force in this industry over time.
Market conditions and a slower than anticipated uptake have led to a more negative stance on ESS Tech's shares. The third-quarter results fell short of expectations primarily due to project postponements, resulting in revenue recognition being deferred to the following quarter. Signs of heightened adoption and installations, along with further financing, would be necessary before adopting a more positive view on the stock.
Note:
TipRanks, an independent third party, provides analysis data from financial analysts and calculates the Average Returns and Success Rates of the analysts' recommendations. The information presented is not an investment recommendation and is intended for informational purposes only.
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.
TipRanks provides a ranking of each analyst up to 5 stars, which is representative of all recommendations from the analyst. An analyst's past performance is evaluated on a scale of 1 to 5 stars, with more stars indicating better performance. The star level is determined by his/her total success rate and average return.
