EnSync Inc (NYSEAMERICAN:ESNC) was the target of a large growth in short interest in the month of December. As of December 29th, there was short interest totalling 1,873,546 shares, a growth of 2.1% from the December 15th total of 1,835,094 shares. Based on an average daily volume of 610,460 shares, the short-interest ratio is currently 3.1 days. Approximately 5.3% of the company’s stock are short sold.
An institutional investor recently raised its position in EnSync stock. ICM Asset Management Inc. WA increased its stake in EnSync Inc (NYSEAMERICAN:ESNC) by 47.8% in the third quarter, according to its most recent 13F filing with the Securities & Exchange Commission. The institutional investor owned 735,500 shares of the technology company’s stock after purchasing an additional 237,700 shares during the period. ICM Asset Management Inc. WA owned 1.32% of EnSync worth $379,000 as of its most recent filing with the Securities & Exchange Commission.
Shares of EnSync (ESNC) opened at $0.48 on Monday. The company has a market cap of $26.91, a P/E ratio of -6.86 and a beta of 0.69. EnSync has a 12 month low of $0.31 and a 12 month high of $0.80.
A number of research firms have commented on ESNC. Zacks Investment Research downgraded shares of EnSync from a “buy” rating to a “hold” rating in a research report on Friday, January 5th. Roth Capital reissued a “buy” rating on shares of EnSync in a research report on Tuesday, September 19th. Finally, HC Wainwright set a $2.00 target price on shares of EnSync and gave the company a “buy” rating in a research report on Friday, December 15th. One research analyst has rated the stock with a sell rating, one has issued a hold rating and three have assigned a buy rating to the company’s stock. The stock has a consensus rating of “Hold” and a consensus price target of $1.21.
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EnSync Company Profile
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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