iSun (NASDAQ:ISUN) was upgraded by Zacks Investment Research from a “hold” rating to a “buy” rating in a report released on Thursday, Zacks.com 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.
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.
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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