Brenmiller Energy (NASDAQ:BNRG) Shares Up 12.4% – Here’s Why

Brenmiller Energy Ltd. (NASDAQ:BNRG)’s stock price rose 12.4% during mid-day trading on Tuesday . The stock traded as high as $0.4573 and last traded at $0.4440. 460,137 shares were traded during mid-day trading, a decline of 88% from the average daily volume of 3,769,246 shares. The stock had previously closed at $0.3951.

Analyst Upgrades and Downgrades

A number of research firms have commented on BNRG. Wall Street Zen raised Brenmiller Energy to a “sell” rating in a report on Saturday, June 13th. Weiss Ratings reaffirmed a “sell (e+)” rating on shares of Brenmiller Energy in a research note on Friday, July 17th. One research analyst has rated the stock with a Sell rating, According to data from MarketBeat.com, Brenmiller Energy has an average rating of “Sell”.

Brenmiller Energy Price Performance

The company has a debt-to-equity ratio of 0.97, a quick ratio of 1.03 and a current ratio of 1.33. The stock has a market capitalization of $8.90 million, a PE ratio of -0.01 and a beta of -0.60. The company’s fifty day simple moving average is $0.86 and its two-hundred day simple moving average is $3.69.

Institutional Inflows and Outflows

A hedge fund recently bought a new position in Brenmiller Energy stock. Citadel Advisors LLC bought a new stake in shares of Brenmiller Energy Ltd. (NASDAQ:BNRG) during the third quarter, according to the company in its most recent filing with the SEC. The institutional investor bought 21,411 shares of the company’s stock, valued at approximately $34,000. Citadel Advisors LLC owned about 0.55% of Brenmiller Energy as of its most recent filing with the SEC. Hedge funds and other institutional investors own 13.23% of the company’s stock.

About Brenmiller Energy

Brenmiller Energy is a Tel Aviv–based technology company specializing in industrial-scale thermal energy storage solutions. The firm’s core business centers on its proprietary Adiabatic Compressed Air Energy Storage (A-CAES) process, which captures excess or off-peak electricity to drive compressors and store heat in insulated thermal tanks. By re-introducing the stored heat into the compressed air stream at a later time, the system generates clean, dispatchable energy without relying on fossil fuels.

The company’s flagship product, StorageCube, integrates its A-CAES technology with advanced control software to deliver reliable power and high-temperature heat for a variety of applications.