Zacks: EnSync Inc (ESNC) Receives Average Recommendation of “Strong Buy” from Brokerages

Shares of EnSync Inc (NASDAQ:ESNC) have earned an average broker rating score of 1.00 (Strong Buy) from the three analysts that cover the stock, Zacks Investment Research reports. Three equities research analysts have rated the stock with a strong buy recommendation.

Brokers have set a 12 month consensus target price of $1.18 for the company and are expecting that the company will post ($0.07) EPS for the current quarter, according to Zacks. Zacks has also assigned EnSync an industry rank of 9 out of 265 based on the ratings given to related companies.

Separately, Roth Capital initiated coverage on shares of EnSync in a research note on Tuesday, September 19th. They issued a “buy” rating and a $0.85 target price for the company.

Shares of EnSync (ESNC) traded down $0.06 during midday trading on Monday, hitting $0.43. 225,578 shares of the company’s stock were exchanged, compared to its average volume of 123,175. EnSync has a one year low of $0.31 and a one year high of $1.09.

A hedge fund recently bought a new stake in EnSync stock. ICM Asset Management Inc. WA purchased a new position in shares of EnSync Inc (NASDAQ:ESNC) in the 2nd quarter, according to the company in its most recent filing with the SEC. The fund purchased 497,800 shares of the company’s stock, valued at approximately $184,000. ICM Asset Management Inc. WA owned 1.04% of EnSync at the end of the most recent reporting period.

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About EnSync

EnSync, Inc is engaged in developing, licensing and manufacturing energy management systems solutions serving the commercial and industrial (C&I) building, utility, and off-grid markets. The Company develops and commercializes product and service solutions for the distributed energy generation market, including energy management systems, energy storage systems, applications, and Internet of energy platforms that link distributed energy resources with the grid network.

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