Factorial Energy (NASDAQ:FAC) Shares Gap Down – Here’s Why

Factorial Energy (NASDAQ:FAC) gapped down before the market opened on Wednesday . The stock had previously closed at $6.08, but opened at $5.66. Factorial Energy shares last traded at $5.8550, with a volume of 150,038 shares.

Wall Street Analyst Weigh In

FAC has been the subject of a number of recent analyst reports. Cantor Fitzgerald started coverage on shares of Factorial Energy in a research report on Tuesday, June 23rd. They issued an “overweight” rating and a $18.00 price target for the company. Zacks Research upgraded shares of Factorial Energy to a “hold” rating in a research report on Wednesday, June 24th. One investment analyst has rated the stock with a Buy rating and one has given a Hold rating to the company. Based on data from MarketBeat.com, the company presently has an average rating of “Moderate Buy” and a consensus target price of $18.00.

Factorial Energy Price Performance

The company has a market capitalization of $597.17 million and a price-to-earnings ratio of 23.25.

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.