Envision Solar International Inc (EVSI) Receives a Buy from Maxim Group

Maxim Group analyst Tate Sullivan maintained a Buy rating on Envision Solar International Inc (EVSIResearch Report) yesterday and set a price target of $9. The company’s shares closed yesterday at $5.75, close to its 52-week low of $4.52.

Sullivan observed:

“We maintain our forecast for y/y revenue growth of ~75% in 2Q19 and 89% in 3Q19 after EVSI announced yesterday that it finished its most recent order for New York City.”

According to TipRanks.com, Sullivan is a 4-star analyst with an average return of 8.1% and a 70.0% success rate. Sullivan covers the Industrial Goods sector, focusing on stocks such as Capstone Turbine Corp, BioHiTech Global Inc, and Ceco Environmental.

Currently, the analyst consensus on Envision Solar International Inc is a Moderate Buy with an average price target of $9.

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Based on Envision Solar International Inc’s latest earnings release for the quarter ending March 31, the company reported a quarterly GAAP net loss of $949.6K. In comparison, last year the company had a GAAP net loss of $774.3K.

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