EnSync Inc (ESNC) Sees Significant Drop in Short Interest

EnSync Inc (NYSEAMERICAN:ESNC) was the recipient of a significant drop in short interest during the month of October. As of October 31st, there was short interest totalling 2,707,649 shares, a drop of 1.6% from the October 15th total of 2,750,968 shares. Based on an average daily volume of 256,724 shares, the days-to-cover ratio is currently 10.5 days. Approximately 6.0% of the shares of the company are short sold.

Shares of NYSEAMERICAN ESNC opened at $0.24 on Friday. EnSync has a one year low of $0.18 and a one year high of $0.56.

EnSync (NYSEAMERICAN:ESNC) last announced its quarterly earnings data on Tuesday, September 25th. The technology company reported ($0.07) EPS for the quarter, missing the Zacks’ consensus estimate of ($0.05) by ($0.02). The business had revenue of $1.65 million during the quarter, compared to analysts’ expectations of $5.05 million.

In related news, Director Theodore Stern bought 192,308 shares of the company’s stock in a transaction on Wednesday, September 5th. The shares were purchased at an average cost of $0.26 per share, with a total value of $50,000.08. Following the completion of the transaction, the director now directly owns 784,579 shares of the company’s stock, valued at $203,990.54. The acquisition was disclosed in a document filed with the Securities & Exchange Commission, which is available at this link.

An institutional investor recently raised its position in EnSync stock. ICM Asset Management Inc. WA boosted its holdings in EnSync Inc (NYSEAMERICAN:ESNC) by 57.8% during the 3rd quarter, according to the company in its most recent 13F filing with the Securities & Exchange Commission. The firm owned 1,330,720 shares of the technology company’s stock after buying an additional 487,347 shares during the period. ICM Asset Management Inc. WA owned approximately 1.96% of EnSync worth $339,000 as of its most recent SEC filing.

Several research analysts recently weighed in on ESNC shares. Zacks Investment Research cut EnSync from a “buy” rating to a “hold” rating in a research note on Tuesday, July 17th. HC Wainwright set a $2.00 target price on EnSync and gave the company a “buy” rating in a research note on Wednesday, September 26th.

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EnSync Company Profile

EnSync, Inc, together with its subsidiaries, develops, licenses, and manufactures energy management systems solutions for the residential and commercial energy systems, and independent utility energy systems markets in the United States and internationally. The company's products include Matrix energy management, an energy control system for the commercial and residential energy systems markets; Home Energy System for property developers and residential customers; and DER SuperModule system, a self-contained DER system that integrates with renewable generation, customer load, and grid interconnection for deploying the least expensive, highest value, and most reliable electricity.

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