EnSync (ESNC) Lowered to “Hold” at Zacks Investment Research

Zacks Investment Research lowered shares of EnSync (NYSEAMERICAN:ESNC) from a buy rating to a hold rating in a research note issued to investors on Friday, January 5th.

According to Zacks, “EnSync, Inc. is a technology solutions company. It develops, licenses and manufactures energy management systems solutions. Its energy storage solutions are based upon zinc bromide rechargeable electrical energy storage technology and power electronics systems. The Company also offers systems which form various levels of micro-grids, hybrid vehicle control systems and power quality regulation solutions. In addition, the Company develops and commercializes energy management systems for off-grid applications. It serves utility, commercial and industrial building and off-grid markets. EnSync, Inc., formerly known as ZBB Energy Corporation, is headquartered in Menomonee Falls, Wisconsin. “

A number of other equities research analysts have also weighed in on ESNC. Roth Capital assumed coverage on shares of EnSync in a report on Tuesday, September 19th. They issued a buy rating and a $0.85 price objective for the company. HC Wainwright set a $2.00 price objective on shares of EnSync and gave the stock a buy rating in a report on Friday, December 15th. One analyst has rated the stock with a sell rating, one has given a hold rating and three have assigned a buy rating to the stock. The company presently has an average rating of Hold and an average price target of $1.21.

Shares of EnSync (ESNC) remained flat at $$0.38 during trading on Friday. 213,654 shares of the company were exchanged, compared to its average volume of 746,445. EnSync has a 12 month low of $0.31 and a 12 month high of $0.80. The firm has a market capitalization of $23.37, a P/E ratio of -5.43 and a beta of 0.69.

EnSync (NYSEAMERICAN:ESNC) last announced its earnings results on Thursday, November 9th. The technology company reported ($0.07) earnings per share (EPS) for the quarter, meeting the consensus estimate of ($0.07). EnSync had a negative net margin of 168.71% and a negative return on equity of 104.96%.

An institutional investor recently raised its position in EnSync stock. ICM Asset Management Inc. WA boosted its position in shares of EnSync Inc (NYSEAMERICAN:ESNC) by 47.8% in the third quarter, according to its most recent filing with the Securities & Exchange Commission. The fund owned 735,500 shares of the technology company’s stock after buying an additional 237,700 shares during the quarter. ICM Asset Management Inc. WA owned approximately 1.32% of EnSync worth $379,000 as of its most recent filing with the Securities & Exchange Commission.

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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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