iSun Inc. (NASDAQ: ISUN) stock jumped 4.96% on Wednesday to $0.58 against a previous-day closing price of $0.55. With 0.72 million shares changed hands, the volume of the stock remained heavier than its average volume of 0.23 million shares. During the session, the Solar company that operates in wider Technology sector, reached to the highest price of $0.6133 whereas the lowest price it dropped to was $0.5288. The 52-week range on ISUN shows that it touched its highest point at $4.98 and its lowest point at $0.47 during that stretch. It currently has a 1-year price target of $2.75. Beta for the stock currently stands at 0.73.
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Price Performance and Earnings:
Stock performance is one of the indicators that investors use to determine whether they will profit from a stock. The price performance of ISUN was up-trending over the past week, with a rise of 2.65%, but this was down by -12.12% over a month. Three-month performance dropped to -57.04% while six-month performance fell -67.23%. The stock lost -81.65% in the past year, while it has lost -56.72% so far this year. A look at the trailing 12-month EPS for ISUN yields -3.67 with Next year EPS estimates of -0.18. For the next quarter, that number is -0.12. This implies an EPS growth rate of -460.40% for this year and 47.10% for next year.
Float and Shares Shorts:
At present, 15.05 million ISUN shares are outstanding with a float of 12.55 million shares on hand for trading. On Apr 27, 2023, short shares totaled 1.5 million, which was 8.43% higher than short shares on Mar 30, 2023. In addition to Mr. Jeffrey Peck as the firm’s CEO, Pres & Chairman, Mr. John Patrick Sullivan serves as its Chief Financial Officer.
Through their ownership of 12.13% of ISUN’s outstanding shares, institutional investors have minority control over the company. Other institutions hold 36.61% of ISUN, in contrast to 3.17% held by mutual funds. Shares owned by individuals account for 10.78%. As the largest shareholder in ISUN with 5.18% of the stake, Essex Investment Management Co. L holds 870,694 shares worth 870,694. A second-largest stockholder of ISUN, The Vanguard Group, Inc., holds 339,799 shares, controlling over 2.02% of the firm’s shares. Veracity Capital LLC is the third largest shareholder in ISUN, holding 285,000 shares or 1.70% stake. With a 1.44% stake in ISUN, the Vanguard Total Stock Market ETF is the largest stakeholder. A total of 242,226 shares are owned by the mutual fund manager. The Vanguard Extended Market Index Fu, which owns about 0.58% of ISUN stock, is the second-largest Mutual Fund holder. It holds 97,573 shares valued at 61471.0. 1290 Essex Small Cap Growth Fund holds 0.36% of the stake in ISUN, owning 59,931 shares worth 37757.0.
An Overview of Recent Financials:
Understanding a company as a customer does not mean you will understand it as an investor. The wise investor uses quantitative research to analyze metrics such as revenue, net income, and earnings. In its fiscal quarter reported on Mar 30, 2023, ISUN reported revenue of $16.48M and operating income of -$5.62M. The EBITDA in the recently reported quarter was -$3.84M and diluted EPS was -$0.40.
Reading analyst opinions is an effective way to decide where to invest, and there are several opinions available for ISUN since 0 analysts follow the stock currently. In the same way, a target price assigned to a stock can also reveal much about its potential. With ISUN analysts setting a high price target of $2.50 and a low target of $2.00, the average target price over the next 12 months is $2.25. Based on these targets, ISUN could surge 331.03% to reach the target high and rise by 244.83% to reach the target low. Reaching the average price target will result in a growth of 287.93% from current levels.
EPS: Estimates vs Actual
It is also common to use earnings estimates to evaluate a firm’s growth potential and to determine trading strategy.
Summary of Insider Activity:
Insiders traded ISUN stock several times over the past three months with 0 Buys and 0 Sells. In these transactions, 0 shares were bought while 0 shares were sold. The number of buy transactions has increased to 22 while that of sell transactions has remained unmoved to 0 over the past year. The total number of shares bought during that period was 473,180 while 0 shares were sold.