Factorial Energy (NASDAQ:FAC) Short Interest Up 76.4% in June

Factorial Energy (NASDAQ:FAC) saw a large growth in short interest in the month of June. As of June 30th, there was short interest totaling 432,274 shares, a growth of 76.4% from the June 15th total of 245,052 shares. Based on an average daily trading volume, of 243,686 shares, the short-interest ratio is presently 1.8 days. Currently, 1.4% of the company’s shares are short sold.

Wall Street Analysts Forecast Growth

A number of brokerages recently issued reports on FAC. Cantor Fitzgerald began coverage on 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 Factorial Energy to a “hold” rating in a report on Wednesday, June 24th. One investment analyst has rated the stock with a Buy rating and one has assigned a Hold rating to the stock. Based on data from MarketBeat, Factorial Energy currently has an average rating of “Moderate Buy” and an average target price of $18.00.

Factorial Energy Stock Performance

Shares of NASDAQ:FAC traded up $0.09 during trading hours on Friday, hitting $5.67. The company’s stock had a trading volume of 357,064 shares, compared to its average volume of 438,235. Factorial Energy has a 52 week low of $4.24 and a 52 week high of $25.33. The firm has a market cap of $606.80 million and a P/E ratio of 23.63.

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.