Chardan Capital Maintains Neutral Rating for ESS Tech: Here's What You Need To Know
Portfolio Pulse from Benzinga Insights
Chardan Capital has maintained its Neutral rating on ESS Tech (NYSE:GWH) but lowered its price target from $1.90 to $0.80. ESS Tech's shares are currently trading at $0.77, down 0.32% over the last 24 hours. A move to $0.80 would represent a 3.9% increase from the current price. ESS Tech specializes in long-duration energy storage solutions, focusing on iron flow battery technology.
March 15, 2024 | 5:00 pm
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Chardan Capital maintains a Neutral rating on ESS Tech but lowers its price target from $1.90 to $0.80. The stock is currently trading at $0.77, indicating a potential upside if it reaches the new target.
The reduction in price target by Chardan Capital reflects a revised valuation of ESS Tech, potentially due to market conditions or company performance. However, the maintenance of a Neutral rating suggests that the firm sees no significant negative changes in the company's fundamentals. The slight potential increase to the new target price indicates a modest positive outlook in the short term.
CONFIDENCE 85
IMPORTANCE 90
RELEVANCE 100