iSun (NASDAQ:ISUN) Upgraded to “Buy” by Zacks Investment Research

iSun (NASDAQ:ISUN) was upgraded by Zacks Investment Research from a “hold” rating to a “buy” rating in a report released on Thursday, reports. The brokerage presently has a $7.75 price objective on the stock. Zacks Investment Research‘s price objective suggests a potential upside of 7.64% from the stock’s previous close.

According to Zacks, “iSun is a commercial solar contractors in the Northeastern United States. “

Separately, Alliance Global Partners boosted their price objective on shares of iSun from $28.00 to $33.00 and gave the company a “buy” rating in a report on Monday.

Shares of ISUN stock traded up $0.20 during trading hours on Thursday, reaching $7.20. 94,846 shares of the company’s stock were exchanged, compared to its average volume of 564,355. The stock’s 50 day moving average is $8.32 and its 200-day moving average is $8.98. The company has a market cap of $79.56 million, a price-to-earnings ratio of -23.23 and a beta of 0.16. The company has a current ratio of 5.03, a quick ratio of 4.83 and a debt-to-equity ratio of 0.31. iSun has a fifty-two week low of $5.80 and a fifty-two week high of $32.24.

iSun (NASDAQ:ISUN) last issued its quarterly earnings results on Monday, November 15th. The company reported ($0.07) earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of ($0.15) by $0.08. iSun had a negative return on equity of 12.65% and a negative net margin of 12.02%. During the same quarter in the prior year, the firm earned ($0.13) EPS. Equities analysts anticipate that iSun will post -0.5 EPS for the current year.

A number of large investors have recently bought and sold shares of ISUN. Vanguard Group Inc. boosted its holdings in iSun by 134.8% in the second quarter. Vanguard Group Inc. now owns 239,173 shares of the company’s stock valued at $2,721,000 after purchasing an additional 137,303 shares during the last quarter. Essex Investment Management Co. LLC purchased a new stake in iSun in the second quarter valued at $1,288,000. Renaissance Technologies LLC purchased a new stake in iSun in the third quarter valued at $347,000. Geode Capital Management LLC purchased a new stake in iSun in the first quarter valued at $352,000. Finally, State Street Corp purchased a new stake in iSun in the second quarter valued at $212,000. 15.05% of the stock is currently owned by institutional investors.

About iSun

iSun, Inc operates as a blank check company. It engages in the provision of solar engineering, procurement and construction services to the companies in the country. The company was founded on October 8, 2014 and is headquartered Williston, VT.

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