The volume is too small to suggest panic selling. I suspect it is the IPO overhang at ~$30. People realize it is dangerous to buy at ~30 until the sellers are gone. the market is so small for enh that a 1000 trade can drop the price by $.5. Buyers will appear in force at low $27. I suspect we have a few more weeks to trade at the range 27-30. Very annoying, especially given the cost of lost opportunity. But when the seller is gone, we will climb to a multiple of 6.5-7, easily.
I agree that, overall, the big problem here is lack of buying interest - so few people know this stock even exists. But as the end of the day comes, the sellers are busy distributing their shares at whatever price they can get instead of waiting till tomorrow -- like they have a sales quota to meet.
I've been surprised that we haven't seen Form 4s for sales. None of the insiders or 10% holders are selling. Trading is so light that distribution by minor holders depresses the price.
The greatest annoyance is that any market downturn will send ENH down from this depressed level, before it can raise itself to a fairer value.