Factorial Energy (NASDAQ:FAC) Shares Up 8.6% – Here’s What Happened

Shares of Factorial Energy (NASDAQ:FAC) were up 8.6% during trading on Thursday . The company traded as high as $5.51 and last traded at $5.4310. Approximately 31,220 shares traded hands during trading, a decline of 89% from the average daily volume of 288,189 shares. The stock had previously closed at $5.00.

Wall Street Analysts Forecast Growth

Several equities research analysts recently issued reports on the stock. 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. Oppenheimer began coverage on Factorial Energy in a report on Tuesday, August 25th. They issued an “outperform” rating and a $8.00 price target for the company. Cantor Fitzgerald restated an “overweight” rating and set a $18.00 price objective on shares of Factorial Energy in a report on Wednesday, August 12th. Zacks Research upgraded Factorial Energy to a “hold” rating in a research note on Wednesday, June 24th. Finally, Weiss Ratings upgraded shares of Factorial Energy from a “sell (e-)” rating to a “sell (e)” rating in a research note on Tuesday, September 1st. Two equities research analysts have rated the stock with a Buy rating, one has assigned a Hold rating and one has issued a Sell rating to the company. According to data from MarketBeat.com, the company has an average rating of “Hold” and an average price target of $13.00.

Factorial Energy Stock Performance

The stock’s 50 day simple moving average is $5.35. The company has a market capitalization of $668.88 million, a price-to-earnings ratio of -9.47 and a beta of 1.20.

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

Factorial Energy Company Profile

Factorial Energy is a battery technology company focused on developing solid-state batteries for electric vehicles and other energy-storage applications. The company’s technology is designed to replace conventional liquid electrolytes with solid materials, with the goal of improving energy density, safety and charging performance compared with traditional lithium-ion batteries.

Factorial’s product development centers on its FEST (Factorial Electrolyte System Technology) platform, which is intended to support lithium-metal and other solid-state battery designs.