Alliance Global Partners Raises iSun (NASDAQ:ISUN) Price Target to $28.00

iSun (NASDAQ:ISUN) had its price objective raised by investment analysts at Alliance Global Partners from $22.00 to $28.00 in a research note issued to investors on Wednesday, The Fly reports. The brokerage currently has a “buy” rating on the stock. Alliance Global Partners’ price objective points to a potential upside of 218.91% from the stock’s current price.

Other equities research analysts have also recently issued reports about the company. TheStreet cut iSun from a “c” rating to a “d+” rating in a research report on Monday, June 21st. Zacks Investment Research raised iSun from a “sell” rating to a “hold” rating in a research report on Friday, June 25th.

Shares of NASDAQ:ISUN traded up $0.27 on Wednesday, hitting $8.78. 143 shares of the company traded hands, compared to its average volume of 660,925. iSun has a 52 week low of $3.25 and a 52 week high of $32.24. The company has a quick ratio of 3.98, a current ratio of 4.21 and a debt-to-equity ratio of 0.04. The stock has a 50 day simple moving average of $8.89 and a 200-day simple moving average of $10.52. The company has a market cap of $79.79 million, a PE ratio of -23.73 and a beta of 0.20.

iSun (NASDAQ:ISUN) last released its quarterly earnings data on Monday, August 16th. The company reported ($0.26) EPS for the quarter. iSun had a negative net margin of 12.95% and a negative return on equity of 17.14%. The business had revenue of $4.35 million for the quarter.

In other iSun news, insider Michael Paul D’amato sold 50,000 shares of the firm’s stock in a transaction dated Thursday, June 17th. The stock was sold at an average price of $11.73, for a total value of $586,500.00. The sale was disclosed in a legal filing with the SEC, which is available through this hyperlink. Company insiders own 22.91% of the company’s stock.

Hedge funds have recently bought and sold shares of the company. BlackRock Inc. purchased a new position in shares of iSun during the 1st quarter valued at about $1,242,000. Geode Capital Management LLC purchased a new position in shares of iSun during the 1st quarter valued at about $352,000. Bank of The West purchased a new position in shares of iSun during the 1st quarter valued at about $2,848,000. Citadel Advisors LLC purchased a new position in shares of iSun during the 2nd quarter valued at about $142,000. Finally, Morgan Stanley purchased a new position in shares of iSun during the 1st quarter valued at about $101,000. 15.54% of the stock is currently owned by hedge funds and other 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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