Heliogen (NYSE:HLGN) Receives Hold Rating from Melius Research

Melius Research restated their hold rating on shares of Heliogen (NYSE:HLGN) in a research report sent to investors on Tuesday morning, Benzinga reports.

Heliogen Stock Performance

Shares of HLGN opened at $1.45 on Tuesday. Heliogen has a fifty-two week low of $0.52 and a fifty-two week high of $13.65. The company has a market capitalization of $8.57 million, a price-to-earnings ratio of -0.07 and a beta of 2.36. The firm has a 50-day simple moving average of $1.54 and a 200-day simple moving average of $2.06.

Heliogen (NYSE:HLGN) last posted its quarterly earnings results on Monday, March 25th. The company reported ($13.15) earnings per share (EPS) for the quarter. The firm had revenue of ($1.16) million for the quarter. Heliogen had a negative return on equity of 146.12% and a negative net margin of 830.91%.

Institutional Inflows and Outflows

Several large investors have recently added to or reduced their stakes in the company. Vanguard Group Inc. increased its holdings in Heliogen by 403.2% in the third quarter. Vanguard Group Inc. now owns 7,393,944 shares of the company’s stock valued at $13,752,000 after buying an additional 5,924,699 shares in the last quarter. Capital World Investors purchased a new position in Heliogen in the first quarter valued at about $30,508,000. BlackRock Inc. increased its holdings in Heliogen by 129.0% in the third quarter. BlackRock Inc. now owns 5,465,737 shares of the company’s stock valued at $10,166,000 after buying an additional 3,079,000 shares in the last quarter. Renaissance Technologies LLC purchased a new position in Heliogen in the fourth quarter valued at about $1,038,000. Finally, State Street Corp increased its holdings in Heliogen by 129.0% in the third quarter. State Street Corp now owns 1,879,479 shares of the company’s stock valued at $3,496,000 after buying an additional 1,058,844 shares in the last quarter. 27.58% of the stock is owned by hedge funds and other institutional investors.

Heliogen Company Profile

Heliogen, Inc, a renewable energy technology company, operates in decarbonizing industry with concentrated sunlight. It is developing a solar solution utilizing computer vision software to align an array of mirrors, reflecting sunlight to a target on the top of a tower. Its artificial intelligence enabled modular system delivers renewable energy in the form of heat, power, or hydrogen fuel.