In the last trading session, 1.64 million iSun Inc. (NASDAQ:ISUN) shares changed hands as the company’s beta touched 0. With the company’s per share price at $0.30 changed hands at $0.02 or 10.14% during last session, the market valuation stood at $8.50M. ISUN’s last price was a discount, traded about -760.0% off its 52-week high of $2.58. The share price had its 52-week low at $0.24, which suggests the last value was 20.0% up since then. When we look at iSun Inc.’s average trading volume, we note the 10-day average is 0.75 million shares, with the 3-month average coming to 886.19K.
Analysts gave the iSun Inc. (ISUN) stock a consensus recommendation rating of a Buy, calculated at a mean rating of 2.00. If we narrow down to specifics, the data shows that 0 out of 3 analysts rate the stock as a Sell, with a further 0 assigning it an Overweight rating. Of the remaining, 0 recommended ISUN as a Hold, 3 felt it is a Buy and 0 rated the stock as Underweight. iSun Inc.’s EPS for the current quarter is expected to be -$0.04.
iSun Inc. (NASDAQ:ISUN) trade information
Instantly ISUN was in green as seen at the end of in last trading. With action 9.78%, the performance over the past five days has been green. The jump to weekly highs of 0.3150 on Friday, 09/15/23 added 10.14% to the stock’s daily price. The company’s shares are showing year-to-date downside of -77.39%, with the 5-day performance at 9.78% in the green. However, in the 30-day time frame, iSun Inc. (NASDAQ:ISUN) is -8.18% down. Looking at the short shares, we see there were 1.38 million shares sold at short interest cover period of 1.79 days.
The consensus price target for the stock as assigned by Wall Street analysts is $1.92, meaning bulls need an upside of 84.38% from its current market value. According to analyst projections, ISUN’s forecast low is $1.00 with $2.75 as the target high. To hit the forecast high, the stock’s price needs a -816.67% plunge from its current level, while the stock would need to soar -233.33% for it to hit the projected low.
iSun Inc. (ISUN) estimates and forecasts
Data shows that the iSun Inc. share is performing relatively much better than most of its peers within the same industry. As can be gleaned from the statistics, the company’s share value shot -70.00% over the past 6 months, a 71.19% in annual growth rate that is considerably higher than the industry average of 35.20%. Moreover, analysts have looked to higher expectations by upgrading its fiscal year 2023 revenue estimates. The rating firms predict current quarter revenue for iSun Inc. will rise 88.90%, while the growth in revenue is estimated to hit 108.30% for the next quarter. Year-over-year growth is forecast to reach 31.30% up from the last financial year.
Consensus estimates given by 3 financial analysts project the company’s revenue in the current quarter to hit an average of $26.68 million. 3 analysts are of the opinion that iSun Inc.’s revenue for the quarter ending Dec 2023 will be $31.3 million. The company’s revenue for the corresponding quarters a year ago was $34.15 million and $25.86 million respectively. According to analysts, the company will likely register a growth in its current quarter sales, forecast at -21.90%. The estimates for the next quarter sales put growth at 21.10%.
Looking at the company’s year-on-year earnings, data shows that the past 5-year has an earnings growth rate of -66.20%. The 2023 estimates are for iSun Inc. earnings to decrease by -460.40%.
iSun Inc. is expected to release its next quarterly earnings report in October.
iSun Inc. (NASDAQ:ISUN)’s Major holders
If we look at who the major shareholders are, we find that insiders hold 19.00% of iSun Inc. shares while 13.37% of the shares are in the hands of institutional holders. The share float percentage for the stock currently stands at 16.50%. There are 13.37% institutions holding the iSun Inc. stock share, with Vanguard Group Inc the top institutional holder. As of Jun 29, 2023, the company held 1.03% of the shares, roughly 0.34 million ISUN shares worth $0.14 million.
Veracity Capital LLC holds the second largest percentage of outstanding shares, with 0.86% or 0.28 million shares worth $0.11 million as of Jun 29, 2023.
Among Mutual Funds, the top two as of Jun 29, 2023 were Vanguard Total Stock Market Index Fund and 1290 Fds-1290 Essex Small Cap Growth Fd. With 0.24 million shares estimated at $96890.0 under it, the former controlled 0.73% of total outstanding shares. On the other hand, 1290 Fds-1290 Essex Small Cap Growth Fd held about 0.56% of the shares, roughly 0.18 million shares worth around $0.12 million.