EnSync (NYSEAMERICAN:ESNC) was downgraded by Zacks Investment Research from a “buy” rating to a “hold” rating in a report issued on Tuesday, December 19th.
According to Zacks, “EnSync, Inc. is a technology solutions company. It develops, licenses and manufactures energy management systems solutions. Its energy storage solutions are based upon zinc bromide rechargeable electrical energy storage technology and power electronics systems. The Company also offers systems which form various levels of micro-grids, hybrid vehicle control systems and power quality regulation solutions. In addition, the Company develops and commercializes energy management systems for off-grid applications. It serves utility, commercial and industrial building and off-grid markets. EnSync, Inc., formerly known as ZBB Energy Corporation, is headquartered in Menomonee Falls, Wisconsin. “
ESNC has been the topic of a number of other research reports. HC Wainwright set a $2.00 price objective on shares of EnSync and gave the stock a “buy” rating in a report on Friday, December 15th. Roth Capital reiterated a “buy” rating on shares of EnSync in a report on Tuesday, September 19th. Finally, ValuEngine cut shares of EnSync from a “sell” rating to a “strong sell” rating in a report on Friday, September 1st. One equities research analyst has rated the stock with a sell rating, one has issued a hold rating and three have given a buy rating to the company’s stock. The stock currently has a consensus rating of “Hold” and a consensus target price of $1.21.
Shares of EnSync (NYSEAMERICAN:ESNC) traded down $0.07 during midday trading on Tuesday, hitting $0.48. 1,040,000 shares of the company traded hands, compared to its average volume of 711,040. EnSync has a one year low of $0.31 and a one year high of $0.80. The stock has a market capitalization of $26.91, a PE ratio of -6.89 and a beta of 0.69.
A hedge fund recently raised its stake in EnSync stock. ICM Asset Management Inc. WA increased its position in shares of EnSync Inc (NYSEAMERICAN:ESNC) by 47.8% during the 3rd quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The firm owned 735,500 shares of the technology company’s stock after purchasing 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.
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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