From Financial Modeling Prep: 2025-04-02 14:12:00

ESS Tech (NYSE:GWH) saw a 6% drop in shares after TD Cowen downgraded the company to Hold from Buy, with a lowered price target of $3. Analysts cited challenges related to leadership changes, funding concerns, and delayed profitability timelines.

Despite progress in cost reduction, ESS’s shift towards Energy Base product for higher power storage faces risks amid lithium-ion battery market pressures.

Uncertainties surrounding CEO search, capital needs, and NYSE delisting notice contribute to the downgrade, creating a murky investment outlook in the near term.

ESS aims for high-30% gross margins in the long run, but with profitability timeline unclear, TD Cowen predicts sideways trading for the stock in the short term.



Read more at Financial Modeling Prep:: TD Cowen Downgrades ESS Tech to Hold, Stock Drops …