Factorial Energy (NASDAQ:FAC) Trading Up 6% – Time to Buy?

Factorial Energy (NASDAQ:FAC) rose 6% on Wednesday . The company traded as high as $5.60 and last traded at $5.5650. Approximately 56,229 shares changed hands during mid-day trading, a decline of 81% from the average daily volume of 289,779 shares. The stock had previously closed at $5.25.

Analyst Ratings Changes

A number of analysts recently commented on the company. Cantor Fitzgerald assumed coverage on Factorial Energy in a research note on Tuesday, June 23rd. They set an “overweight” rating and a $18.00 price objective on the stock. Zacks Research raised shares of Factorial Energy to a “hold” rating in a research note on Wednesday, June 24th. One analyst has rated the stock with a Buy rating and one has assigned a Hold rating to the company’s stock. According to MarketBeat, the company presently has a consensus rating of “Moderate Buy” and a consensus price target of $18.00.

Factorial Energy Trading Up 5.0%

The company has a market capitalization of $589.70 million and a P/E ratio of 22.86.

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.