EnSync (ESNC) Trading Up 14.3% Following Insider Buying Activity
EnSync Inc (NYSEAMERICAN:ESNC)’s share price was up 14.3% on Friday following insider buying activity. The company traded as high as $0.33 and last traded at $0.32. Approximately 3,275,564 shares traded hands during trading, an increase of 977% from the average daily volume of 304,142 shares. The stock had previously closed at $0.28.
Specifically, Director Theodore Stern bought 192,308 shares of the stock in a transaction on Wednesday, September 5th. The shares were purchased at an average cost of $0.26 per share, with a total value of $50,000.08. Following the completion of the transaction, the director now directly owns 784,579 shares of the company’s stock, valued at approximately $203,990.54. The purchase was disclosed in a filing with the SEC, which is accessible through the SEC website.
A number of equities research analysts have issued reports on ESNC shares. HC Wainwright set a $2.00 price target on shares of EnSync and gave the company a “buy” rating in a report on Wednesday, May 16th. Zacks Investment Research upgraded shares of EnSync from a “hold” rating to a “buy” rating and set a $0.50 price target for the company in a report on Friday, May 18th.
EnSync, Inc, together with its subsidiaries, develops, licenses, and manufactures energy management systems solutions for the commercial and industrial building, utility, and off-grid markets in the United States and internationally. The company's products include Matrix energy management, an energy control system for the commercial and industrial, and multi-tenant building markets; DER Flex Internet of energy control platform, a software platform that seamlessly connects to DERs and controls the flow of electricity, as well as offers aggregation and monetization opportunities for providing utility grid services; DER SuperModule system, a self-contained DER system that integrates with renewable generation, customer load, and grid interconnection for deploying the least expensive, highest value, and most reliable electricity; and Agile Hybrid advanced energy storage system, an energy storage system to deliver power and energy for behind-the-meter applications in commercial, industrial, multi-tenant, and resort buildings.
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