EnSync Inc (ESNC) Sees Significant Increase in Short Interest

EnSync Inc (NYSEAMERICAN:ESNC) was the recipient of a significant growth in short interest during the month of January. As of January 12th, there was short interest totalling 1,906,215 shares, a growth of 1.7% from the December 29th total of 1,873,546 shares. Currently, 5.4% of the shares of the company are short sold. Based on an average trading volume of 1,032,722 shares, the short-interest ratio is presently 1.8 days.

An institutional investor recently raised its position in EnSync stock. ICM Asset Management Inc. WA grew its stake in shares of EnSync Inc (NYSEAMERICAN:ESNC) by 47.8% during the third quarter, according to the company in its most recent disclosure with the SEC. 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 SEC filing.

A number of equities research analysts have recently weighed in on ESNC shares. HC Wainwright set a $2.00 price target on shares of EnSync and gave the company a “buy” rating in a research report on Friday, December 15th. Zacks Investment Research upgraded shares of EnSync from a “hold” rating to a “buy” rating and set a $0.50 price target for the company in a research report on Wednesday, January 3rd. One investment analyst has rated the stock with a sell rating, one has assigned a hold rating and three have issued a buy rating to the company’s stock. The stock has a consensus rating of “Hold” and an average target price of $1.21.

Shares of EnSync (NYSEAMERICAN:ESNC) opened at $0.41 on Friday. EnSync has a 1 year low of $0.31 and a 1 year high of $0.80. The firm has a market cap of $24.38, a P/E ratio of -5.86 and a beta of 0.69.

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

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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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