Factorial Energy (NASDAQ:FAC) Shares Up 7.9% – Still a Buy?

Factorial Energy (NASDAQ:FAC)’s stock price was up 7.9% during trading on Tuesday . The company traded as high as $4.99 and last traded at $4.9620. Approximately 92,452 shares traded hands during mid-day trading, a decline of 68% from the average session volume of 289,954 shares. The stock had previously closed at $4.60.

Wall Street Analysts Forecast Growth

Several brokerages have recently commented on FAC. Weiss Ratings initiated coverage on Factorial Energy in a research note on Wednesday, August 12th. They set a “sell (e-)” rating on the stock. Zacks Research raised shares of Factorial Energy to a “hold” rating in a research note on Wednesday, June 24th. Wall Street Zen cut shares of Factorial Energy from a “sell” rating to a “strong sell” rating in a report on Sunday, August 16th. Cantor Fitzgerald reissued an “overweight” rating and set a $18.00 target price on shares of Factorial Energy in a research report on Wednesday, August 12th. Finally, Oppenheimer started coverage on shares of Factorial Energy in a research report on Tuesday. They set an “outperform” rating and a $8.00 target price on the stock. Two investment analysts have rated the stock with a Buy rating, one has issued a Hold rating and one has assigned a Sell rating to the stock. According to MarketBeat, the company currently has a consensus rating of “Hold” and an average target price of $13.00.

Factorial Energy Stock Performance

The company has a market cap of $526.55 million, a P/E ratio of -7.45 and a beta of 1.25. The stock has a fifty day simple moving average of $6.93.

Factorial Energy (NASDAQ:FAC) last announced its quarterly earnings results on Tuesday, August 11th. The company reported ($0.85) earnings per share (EPS) for the quarter. On average, research analysts predict that Factorial Energy will post -0.28 EPS for the current fiscal year.

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.