Factorial Energy (NASDAQ:FAC – Get Free Report) shares gapped up before the market opened on Wednesday following a better than expected earnings announcement. The stock had previously closed at $4.26, but opened at $4.63. Factorial Energy shares last traded at $4.6950, with a volume of 146,110 shares changing hands.
The company reported $0.07 earnings per share for the quarter, topping the consensus estimate of ($0.10) by $0.17. The company had revenue of $0.03 million for the quarter.
Analyst Upgrades and Downgrades
FAC has been the topic of several research analyst reports. Cantor Fitzgerald reissued an “overweight” rating and set a $18.00 price target on shares of Factorial Energy in a research note on Wednesday, August 12th. Wall Street Zen downgraded Factorial Energy from a “sell” rating to a “strong sell” rating in a research note on Sunday, August 16th. Weiss Ratings raised Factorial Energy from a “sell (e)” rating to a “sell (d)” rating in a report on Friday, September 25th. Finally, Oppenheimer initiated coverage on Factorial Energy in a report on Tuesday, August 25th. They set an “outperform” rating and a $8.00 price objective for the company. Two equities research analysts have rated the stock with a Buy rating, one has assigned a Hold rating and one has assigned a Sell rating to the company. According to MarketBeat, the company has a consensus rating of “Hold” and an average price target of $13.00.
Factorial Energy Price Performance
The firm has a market cap of $493.36 million, a PE ratio of -6.98 and a beta of 1.17. The business’s fifty day moving average price is $5.12.
About Factorial Energy
Factorial Energy is a U.S.-based battery technology company founded in 2013 and headquartered in Woburn, Massachusetts. It develops solid-state lithium-metal batteries for electric vehicles and other applications, with a focus on improving energy storage, safety and charging performance. The company’s proprietary FEST (Factorial Electrolyte System Technology) platform uses a solid electrolyte and is designed to work with existing lithium-ion manufacturing processes. Factorial has collaborated with automakers including Mercedes-Benz, Stellantis and Hyundai Motor Company on the development and evaluation of its battery technology.
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