EnSync (ESNC) Trading 18.9% Higher

EnSync Inc (NYSEAMERICAN:ESNC)’s share price traded up 18.9% on Thursday . The stock traded as high as $0.48 and last traded at $0.44. 1,439,510 shares were traded during trading, an increase of 700% from the average session volume of 180,043 shares. The stock had previously closed at $0.37.

Several equities research analysts have recently issued reports on the company. HC Wainwright set a $2.00 price objective on EnSync and gave the company a “buy” rating in a research note on Friday. Zacks Investment Research raised EnSync from a “hold” rating to a “buy” rating and set a $0.50 price objective for the company in a research note on Friday, December 8th. Roth Capital reaffirmed a “buy” rating on shares of EnSync in a research note on Tuesday, September 19th. Finally, ValuEngine lowered EnSync from a “sell” rating to a “strong sell” rating in a research note on Friday, September 1st. One research analyst has rated the stock with a sell rating and four have issued a buy rating to the stock. The stock currently 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 increased its holdings in shares of EnSync Inc (NYSEAMERICAN:ESNC) by 47.8% in the third quarter, according to its most recent filing with the SEC. The fund 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 about 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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