ESS Tech price target lowered to $2.50 from $3 at Roth Capital

Roth Capital analyst Justin Clare lowered the firm’s price target on ESS Tech (GWH) to $2.50 from $3 and keeps a Neutral rating on the shares. The company delivered a Q1 miss as it is moderating activity in the first half of 2025 to manage the cash burn, the analyst tells investors in a research note. While ESS Tech was recently awarded a 50 MWh Energy Base project in Arizona, near-term execution will depend on its ability to raise incremental capital, the firm added.