Short Interest in EnSync Inc (NYSEAMERICAN:ESNC) Rises By 2.1%

EnSync Inc (NYSEAMERICAN:ESNC) saw a large increase in short interest during the month of December. As of December 29th, there was short interest totalling 1,873,546 shares, an increase of 2.1% from the December 15th total of 1,835,094 shares. Based on an average daily volume of 610,460 shares, the days-to-cover ratio is currently 3.1 days. Approximately 5.3% of the company’s stock are sold short.

EnSync (NYSEAMERICAN:ESNC) traded down $0.01 during trading hours on Wednesday, hitting $0.47. 823,400 shares of the stock were exchanged, compared to its average volume of 1,011,750. The company has a market cap of $26.91, a P/E ratio of -6.71 and a beta of 0.69. EnSync has a one year low of $0.31 and a one year high of $0.80.

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

A hedge fund recently raised its stake in EnSync stock. ICM Asset Management Inc. WA raised its stake in EnSync Inc (NYSEAMERICAN:ESNC) by 47.8% in the 3rd quarter, according to its most recent 13F filing with the Securities and Exchange Commission. 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 about 1.32% of EnSync worth $379,000 as of its most recent filing with the Securities and Exchange Commission.

A number of research analysts recently issued reports on ESNC shares. 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 research note on Friday, December 8th. Roth Capital reiterated a “buy” rating on shares of EnSync in a research note on Tuesday, September 19th. Finally, HC Wainwright set a $2.00 target price on shares of EnSync and gave the company a “buy” rating in a research note on Friday, December 15th. One 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. EnSync presently has an average rating of “Hold” and an average target price of $1.21.

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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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