Factorial Energy (NASDAQ:FAC) Stock Price Down 8.2% – Here’s Why

Shares of Factorial Energy (NASDAQ:FAC) fell 8.2% during trading on Monday . The company traded as low as $4.81 and last traded at $4.6910. Approximately 134,152 shares were traded during mid-day trading, a decline of 54% from the average daily volume of 289,145 shares. The stock had previously closed at $5.11.

Analysts Set New Price Targets

A number of brokerages have recently commented on FAC. Cantor Fitzgerald assumed coverage on Factorial Energy in a research note on Tuesday, June 23rd. They issued an “overweight” rating and a $18.00 price target for the company. Zacks Research raised shares of Factorial Energy to a “hold” rating in a research report on Wednesday, June 24th. One investment analyst has rated the stock with a Buy rating and one has issued a Hold rating to the company. Based on data from MarketBeat.com, the company has an average rating of “Moderate Buy” and a consensus price target of $18.00.

Factorial Energy Stock Down 1.7%

The firm has a market cap of $499.78 million and a P/E ratio of 19.46.

About Factorial Energy

We are a blank check company incorporated on October 29, 2024 as a Cayman Islands exempted company and formed for the purpose of effecting a merger, amalgamation, share exchange, asset acquisition, share purchase, reorganization or similar business combination with one or more businesses or entities, which we refer to throughout this prospectus as our initial business combination. We have not selected any business combination target and we have not, nor has anyone on our behalf, initiated any substantive discussions, directly or indirectly, with any business combination target.