EnSync (ESNC) Trading Down 7.1%

Shares of EnSync Inc (NYSEAMERICAN:ESNC) traded down 7.1% during trading on Wednesday . The company traded as low as $0.39 and last traded at $0.39. 714,191 shares traded hands during trading, an increase of 6% from the average session volume of 673,596 shares. The stock had previously closed at $0.42.

Several brokerages recently issued reports on ESNC. Zacks Investment Research cut EnSync from a “buy” rating to a “hold” rating in a research report on Friday, January 5th. HC Wainwright set a $2.00 price target on EnSync and gave the company a “buy” rating in a research report on Friday, December 15th. One research 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 presently has a consensus rating of “Hold” and an average price target of $1.21.

The stock has a market cap of $20.55, a PE ratio of -5.57 and a beta of 0.59.

A hedge fund recently raised its stake in EnSync stock. ICM Asset Management Inc. WA lifted its position in shares of EnSync Inc (NYSEAMERICAN:ESNC) by 47.8% during the 3rd quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The institutional investor owned 735,500 shares of the technology company’s stock after acquiring an additional 237,700 shares during the quarter. ICM Asset Management Inc. WA owned 1.32% of EnSync worth $379,000 at the end of the most recent quarter.

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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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