EnSync Inc (NYSEAMERICAN:ESNC) was the target of a large growth in short interest in the month of November. As of November 30th, there was short interest totalling 1,693,491 shares, a growth of 4.4% from the November 15th total of 1,621,664 shares. Based on an average daily trading volume, of 97,795 shares, the days-to-cover ratio is presently 17.3 days. Currently, 4.8% of the company’s stock are short sold.
Several equities research analysts have recently weighed in on the company. Roth Capital reissued a “buy” rating on shares of EnSync in a research report on Tuesday, September 19th. ValuEngine lowered EnSync from a “sell” rating to a “strong sell” rating in a research report on Friday, September 1st. Finally, Zacks Investment Research raised EnSync from a “hold” rating to a “buy” rating and set a $0.50 price target on the stock in a research report on Friday. One analyst has rated the stock with a sell rating and four have assigned a buy rating to the company’s stock. The stock has a consensus rating of “Buy” and a consensus target price of $1.21.
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% during the 3rd quarter, according to its most recent filing with the Securities and Exchange Commission. The fund owned 735,500 shares of the technology company’s stock after purchasing 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 reporting period.
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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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