EnSync Inc (NYSEAMERICAN:ESNC) was the recipient of a significant growth in short interest during the month of February. As of February 15th, there was short interest totalling 2,442,002 shares, a growth of 7.7% from the January 31st total of 2,266,376 shares. Approximately 6.9% of the company’s shares are short sold. Based on an average daily volume of 503,306 shares, the short-interest ratio is currently 4.9 days.
An institutional investor recently raised its position in EnSync stock. ICM Asset Management Inc. WA boosted its stake in EnSync Inc (NYSEAMERICAN:ESNC) by 47.8% during the 3rd quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The institutional investor owned 735,500 shares of the technology company’s stock after acquiring an additional 237,700 shares during the period. ICM Asset Management Inc. WA owned 1.32% of EnSync worth $379,000 at the end of the most recent reporting period.
ESNC has been the topic of several recent analyst reports. HC Wainwright set a $2.00 target price on shares of EnSync and gave the stock a “buy” rating in a 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 target price on the stock in a report on Friday, December 8th. One investment analyst has rated the stock with a sell rating, one has given a hold rating and three have issued a buy rating to the company. The company currently has an average rating of “Hold” and an average price target of $1.21.
EnSync (NYSEAMERICAN:ESNC) last released its quarterly earnings results on Tuesday, February 13th. The technology company reported ($0.05) earnings per share for the quarter, beating the consensus estimate of ($0.07) by $0.02. The business had revenue of $4.85 million for the quarter, compared to analysts’ expectations of $2.97 million. EnSync had a negative net margin of 53.88% and a negative return on equity of 85.43%.
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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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