Wall Street brokers expect iSun, Inc. (NASDAQ:ISUN – Get Rating) to report sales of $29.78 million for the current fiscal quarter, according to Zacks. Two analysts provided iSun earnings estimates. The highest sales estimate is $37.55 million and the lowest is $22.00 million. iSun posted sales of $7.26 million in the same quarter last year, which would indicate a positive year-over-year growth rate of 310.2%. The company is expected to announce its next quarterly results on Monday, January 1.
On average, analysts expect iSun to report annual sales of $151.13 million for the current year, with estimates ranging from $137.00 million to $165.25 million. For the next fiscal year, analysts expect the company to post sales of $202.50 million, with estimates ranging from $171.00 to $234.00 million. Zacks sales calculations are an average average based on a survey of analysts who cover iSun.
A number of equity research analysts have weighed in on ISUN shares recently. Zacks Investment Research downgraded iSun shares from a “buy” rating to a “hold” rating in a report on Tuesday, January 25. Roth Capital began covering iSun shares in a research note on Thursday, March 10. They set a “buy” rating and a price target of $7.00 on the stock.
Large investors have recently changed their positions in the stock. Morgan Stanley increased its position in iSun by 69.0% in the third quarter. Morgan Stanley now owns 10,388 shares of the company worth $86,000 after buying an additional 4,241 shares in the last quarter. Citadel Advisors LLC bought a new position in iSun during Q2 worth $142,000. Raymond James Financial Services Advisors Inc. increased its position in iSun by 12.1% during the third quarter. Raymond James Financial Services Advisors Inc. now owns 30,134 shares of the company worth $250,000 after buying 3,260 additional shares in the last quarter. Renaissance Technologies LLC bought a new position in iSun during Q3 worth $347,000. Finally, Geode Capital Management LLC increased its position in iSun by 21.1% during the 3rd quarter. Geode Capital Management LLC now owns 56,451 shares of the company worth $468,000 after purchasing an additional 9,844 shares in the last quarter. Hedge funds and other institutional investors own 9.86% of the company’s shares.
Shares of ISUN opened at $3.32 on Friday. iSun has a 12-month low of $3.30 and a 12-month high of $13.98. The company’s fifty-day simple moving average is $4.51 and its 200-day simple moving average is $6.05. The company has a market capitalization of $46.32 million, a price-earnings ratio of -10.71 and a beta of 0.21. The company has a current ratio of 5.03, a quick ratio of 4.83 and a debt ratio of 0.31.
iSun Company Profile (Get a rating)
iSun, Inc operates as a solar engineering, construction and supply contractor for commercial and industrial customers in the Northeastern United States. It also provides electrical contractor services; and data and communications services. The company was previously known as The Peck Company Holdings, Inc and changed its name to iSun, Inc in January 2021.
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