Factorial Energy (NASDAQ:FAC) Stock Price Down 4.3% – Here’s What Happened

Factorial Energy (NASDAQ:FAC) dropped 4.3% during mid-day trading on Friday. The stock traded as low as $6.11 and last traded at $6.0310. 41,127 shares traded hands during mid-day trading, a decline of 87% from the average session volume of 308,869 shares. The stock had previously closed at $6.30.

Analyst Ratings Changes

A number of analysts have recently commented on FAC shares. Oppenheimer initiated coverage on Factorial Energy in a research report on Tuesday, August 25th. They set an “outperform” rating and a $8.00 target price on the stock. Weiss Ratings raised Factorial Energy from a “sell (e)” rating to a “sell (d)” rating in a research report on Friday, September 25th. Cantor Fitzgerald restated an “overweight” rating and set a $18.00 price target on shares of Factorial Energy in a research note on Wednesday, August 12th. Zacks Research upgraded Factorial Energy to a “hold” rating in a research note on Wednesday, June 24th. Finally, Wall Street Zen downgraded Factorial Energy from a “sell” rating to a “strong sell” rating in a report on Sunday, August 16th. Two investment analysts have rated the stock with a Buy rating, one has assigned a Hold rating and one has issued a Sell rating to the stock. Based on data from MarketBeat, Factorial Energy currently has an average rating of “Hold” and a consensus target price of $13.00.

Factorial Energy Price Performance

The firm has a market cap of $649.18 million, a P/E ratio of -9.20 and a beta of 0.80. The stock’s 50 day simple moving average is $5.45.

Factorial Energy (NASDAQ:FAC) last announced its 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 earnings per share for the current fiscal year.

About Factorial Energy

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.