Volume Spike Investor

EnerSys (NYSE: ENS) is starting to indicate much lower share prices but volume is elusive.  The company announced that affiliates of Metalmark Capital LLC and certain other institutional investors have agreed to sell 3,200,000 shares of its common stock to Goldman, Sachs & Co.  All of the funds will be received by the selling stockholders and will be of no benefit to Enersys. This is being called an ‘at the market offering’ under its shelf registration but no prices are named yet. As of the $21.91 close, this represents close to $70 million, and for a comparison it has a market cap of only $1.05 billion.  Average volume here is 540,000 shares and the 52-week trading range is $5.71 to $30.02.  We have yet to see pre-market trades go through, but the price indications are down at $20.25 to $20.85 in early indications after a $21.91 close on Tuesday.  Where this one trades is anyone’s guess at this point. -JON OGG