ESS Tech price target lowered to $2 from $2.50 at Roth Capital

Roth Capital analyst Justin Clare lowered the firm’s price target on ESS Tech (GWH) to $2 from $2.50 and keeps a Buy rating on the shares. The company reported a weak Q1 as it continues transitioning toward commercialization of its Energy Base platform, and while the near-term financial performance remains challenged, management highlighted continued strategic progress including advancement of Project New Horizon with SRP and Google (GOOGL), the analyst tells investors in a research note.