ESS Tech downgraded to Perform from Outperform at Oppenheimer

Oppenheimer analyst Colin Rusch downgraded ESS Tech (GWH) to Perform from Outperform without a price target Given the company’s indication that it is evaluating financing options, the firm is stepping to the sidelines, looking for clarity on its capital structure and consistency on delivery schedules. The analyst, however, continues to see a significant need for long-duration storage technologies and believes ESS Tech will prove a long-term leader in the segment.