EnSync (NYSEAMERICAN:ESNC) was downgraded by Zacks Investment Research from a “buy” rating to a “hold” rating in a report released on Friday.
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. “
A number of other brokerages have also weighed in on ESNC. Roth Capital started coverage on EnSync in a research note on Tuesday, September 19th. They set a “buy” rating and a $0.85 price objective for 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, December 15th. One investment analyst has rated the stock with a sell rating, one has issued a hold rating and three have issued a buy rating to the company’s stock. The company has an average rating of “Hold” and a consensus price target of $1.21.
Shares of EnSync (ESNC) traded up $0.02 during midday trading on Friday, reaching $0.45. The company’s stock had a trading volume of 799,039 shares, compared to its average volume of 490,400. EnSync has a 12-month low of $0.31 and a 12-month high of $0.80. The firm has a market cap of $22.17, a price-to-earnings ratio of -6.43 and a beta of 0.67.
A hedge fund recently raised its stake in EnSync stock. ICM Asset Management Inc. WA grew its position in shares of EnSync Inc (NYSEAMERICAN:ESNC) by 47.8% during the third quarter, according to the company in its most recent 13F filing with the Securities & Exchange Commission. The fund owned 735,500 shares of the technology company’s stock after buying an additional 237,700 shares during the period. ICM Asset Management Inc. WA owned about 1.32% of EnSync worth $379,000 as of its most recent SEC filing.
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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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