ESS Tech shares fall after Oppenheimer cuts to 'perform'
** Energy storage systems maker ESS Tech's GWH.N shares fall 19% to $7 after Oppenheimer downgrades rating to "perform" from "outperform"
** "We are stepping to the sidelines looking for clarity on capital structure and incremental consistency on delivery schedules" - Oppenheimer analyst Colin Rusch
** But the brokerage says it seessignificant need for long-duration storage technologies and believes GWH will bea long-term leader in the segment
** Two of 7 brokerages rate the stock "buy" and 5 "hold"; their median PT is $12.50 - LSEG data
** Up to last close, stock down 48% YTD
Reporting by Anshuman Tripathy
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