Factorial Energy (NASDAQ:FAC) Shares Up 15% – Here’s What Happened

Factorial Energy (NASDAQ:FAC)’s share price was up 15% during trading on Tuesday . The company traded as high as $5.86 and last traded at $5.9940. 118,558 shares changed hands during mid-day trading, a decline of 59% from the average session volume of 289,536 shares. The stock had previously closed at $5.21.

Analyst Upgrades and Downgrades

FAC has been the topic of a number of recent analyst reports. Zacks Research upgraded shares of Factorial Energy to a “hold” rating in a report on Wednesday, June 24th. Oppenheimer initiated coverage on shares of Factorial Energy in a research note on Tuesday, August 25th. They set an “outperform” rating and a $8.00 price objective for the company. Wall Street Zen downgraded shares of Factorial Energy from a “sell” rating to a “strong sell” rating in a research note on Sunday, August 16th. Cantor Fitzgerald reaffirmed an “overweight” rating and issued a $18.00 price target on shares of Factorial Energy in a report on Wednesday, August 12th. Finally, Weiss Ratings raised Factorial Energy from a “sell (e-)” rating to a “sell (e)” rating in a research report on Tuesday, September 1st. Two analysts have rated the stock with a Buy rating, one has given a Hold rating and one has assigned a Sell rating to the stock. According to data from MarketBeat.com, the company presently has an average rating of “Hold” and a consensus target price of $13.00.

Factorial Energy Stock Performance

The business has a 50 day simple moving average of $6.19. The stock has a market cap of $637.30 million, a P/E ratio of -9.03 and a beta of 1.20.

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

Factorial Energy Company Profile

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.