EnSync Inc (NYSEAMERICAN:ESNC) was the recipient of a significant decline in short interest in February. As of February 28th, there was short interest totalling 2,367,345 shares, a decline of 3.1% from the February 15th total of 2,442,002 shares. Approximately 6.4% of the shares of the stock are short sold. Based on an average trading volume of 180,430 shares, the days-to-cover ratio is presently 13.1 days.
Shares of EnSync stock traded down $0.03 during trading on Monday, hitting $0.38. 279,700 shares of the stock traded hands, compared to its average volume of 452,592. EnSync has a twelve month low of $0.31 and a twelve month high of $0.80.
EnSync (NYSEAMERICAN:ESNC) last posted its earnings results on Tuesday, February 13th. The technology company reported ($0.05) earnings per share for the quarter, topping the Thomson Reuters’ consensus estimate of ($0.07) by $0.02. EnSync had a negative return on equity of 85.43% and a negative net margin of 53.88%. The firm had revenue of $4.85 million during the quarter, compared to analyst estimates of $2.97 million.
Several equities research analysts have commented on ESNC shares. HC Wainwright set a $2.00 price target on shares of EnSync and gave the stock a “buy” rating in a research report on Friday, December 15th. 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 note on Friday, December 8th.
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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