Zacks Investment Research Upgrades EnSync Inc (ESNC) to Hold
EnSync Inc (NYSEMKT:ESNC) was upgraded by Zacks Investment Research from a “sell” rating to a “hold” rating in a report released on Wednesday.
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. “
Shares of EnSync (NYSEMKT:ESNC) opened at 0.78 on Wednesday. The stock’s 50 day moving average is $0.96 and its 200-day moving average is $0.57. The stock’s market cap is $37.25 million. EnSync has a 12-month low of $0.13 and a 12-month high of $1.42.
EnSync (NYSEMKT:ESNC) last issued its quarterly earnings results on Thursday, November 10th. The company reported ($0.10) earnings per share for the quarter, missing the Thomson Reuters’ consensus estimate of ($0.08) by $0.02. The company earned $7.70 million during the quarter, compared to analysts’ expectations of $7.30 million. Equities analysts anticipate that EnSync will post ($0.26) EPS for the current fiscal year.
In related news, major shareholder Jilun He purchased 667,316 shares of the firm’s stock in a transaction that occurred on Saturday, October 8th. The stock was purchased at an average cost of $1.07 per share, with a total value of $714,028.12. Following the completion of the acquisition, the insider now directly owns 5,191,543 shares in the company, valued at $5,554,951.01. The acquisition was disclosed in a document filed with the SEC, which is accessible through this link.
EnSync Company Profile
EnSync, Inc, formerly ZBB Energy Corporation, develops, licenses, and manufactures energy management systems solutions serving the utility, commercial and industrial (C&I) building, utility, and off-grid markets. The Company develops and commercializes application solutions for advanced energy management systems critical to the transition from a coal-centric economy to one reliant on renewable energy sources.
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