$1.71 Million in Sales Expected for EnSync Inc (ESNC) This Quarter

Wall Street brokerages expect EnSync Inc (NASDAQ:ESNC) to post $1.71 million in sales for the current fiscal quarter, Zacks reports. Two analysts have made estimates for EnSync’s earnings, with the highest sales estimate coming in at $1.72 million and the lowest estimate coming in at $1.70 million. EnSync reported sales of $7.66 million in the same quarter last year, which indicates a negative year-over-year growth rate of 77.7%. The company is scheduled to report its next earnings report on Thursday, November 9th.

According to Zacks, analysts expect that EnSync will report full-year sales of $1.71 million for the current financial year, with estimates ranging from $23.50 million to $25.82 million. For the next fiscal year, analysts expect that the business will post sales of $38.74 million per share. Zacks’ sales averages are an average based on a survey of research firms that follow EnSync.

A number of research firms have recently weighed in on ESNC. Zacks Investment Research raised EnSync from a “sell” rating to a “hold” rating in a research report on Thursday, June 1st. Roth Capital began coverage on EnSync in a research report on Tuesday. They set a “buy” rating and a $0.85 price objective on the stock.

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An institutional investor recently bought a new position in EnSync stock. ICM Asset Management Inc. WA bought a new stake in EnSync Inc (NASDAQ:ESNC) during the 2nd quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The institutional investor bought 497,800 shares of the company’s stock, valued at approximately $184,000. ICM Asset Management Inc. WA owned about 1.04% of EnSync at the end of the most recent reporting period.

Shares of EnSync (NASDAQ ESNC) traded up 2.84% on Tuesday, hitting $0.54. The stock had a trading volume of 209,957 shares. The firm’s market cap is $25.93 million. The stock has a 50 day moving average of $0.41 and a 200 day moving average of $0.51. EnSync has a 12-month low of $0.31 and a 12-month high of $1.42.

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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