ESS Inc. price target lowered to $4.50 from $7.00 at TD Cowen

TD Cowen lowered the firm’s price target on ESS Inc. to $4.50 from $7.00 and keeps an Outperform rating on the shares. The analyst said revenue recognition issues continued this quarter with no EW units recognized. The 14 shipped units shipped this quarter are in transit and will manifest on the P&L this year.