Factorial Energy (NASDAQ:FAC) Shares Shorted: Short Interest Up 120.6% in September
by Kim Johansen · The Markets DailyFactorial Energy (NASDAQ:FAC – Get Free Report) saw a large growth in short interest in the month of September. As of September 30th, there was short interest totaling 1,332,469 shares, a growth of 120.6% from the September 15th total of 603,983 shares. Based on an average daily trading volume, of 631,716 shares, the short-interest ratio is presently 2.1 days. Approximately 1.4% of the company’s stock are sold short.
Wall Street Analyst Weigh In
Several equities analysts have recently issued reports on the company. Oppenheimer began coverage on Factorial Energy in a research note on Tuesday, August 25th. They issued an “outperform” rating and a $8.00 price objective for the company. Weiss Ratings raised Factorial Energy from a “sell (e)” rating to a “sell (d)” rating in a report on Friday, September 25th. Zacks Research raised Factorial Energy to a “hold” rating in a report on Wednesday, June 24th. Cantor Fitzgerald reaffirmed an “overweight” rating and issued a $18.00 price objective on shares of Factorial Energy in a report on Wednesday, August 12th. Finally, Wall Street Zen cut Factorial Energy from a “sell” rating to a “strong sell” rating in a report on Sunday, August 16th. 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, Factorial Energy has a consensus rating of “Hold” and an average price target of $13.00.
Read Our Latest Stock Analysis on Factorial Energy
Factorial Energy Price Performance
NASDAQ FAC traded up $0.03 during mid-day trading on Thursday, reaching $4.79. 87,843 shares of the stock were exchanged, compared to its average volume of 304,703. Factorial Energy has a 1-year low of $4.24 and a 1-year high of $25.33. The firm’s fifty day simple moving average is $5.43. The firm has a market capitalization of $512.11 million, a PE ratio of -7.25 and a beta of 0.82.
Factorial Energy (NASDAQ:FAC – Get Free Report) last issued its quarterly earnings results on Tuesday, August 11th. The company reported ($0.85) earnings per share for the quarter. On average, analysts forecast that Factorial Energy will post -0.28 EPS for the current fiscal year.
About Factorial Energy
Factorial Energy is a battery technology company developing solid-state batteries for electric vehicles and other energy-storage applications. Its technology is designed to replace conventional liquid electrolytes with solid materials, with the goal of improving energy density, safety and charging performance.
The company’s product development efforts include its FEST (Factorial Electrolyte System Technology) platform, which is intended for use in lithium-metal solid-state battery cells.