Factorial Energy (NASDAQ:FAC) Stock Price Down 7.4% – Here’s Why

Shares of Factorial Energy (NASDAQ:FAC) fell 7.4% during trading on Monday . The company traded as low as $5.30 and last traded at $5.2490. 182,067 shares changed hands during mid-day trading, a decline of 38% from the average daily volume of 291,381 shares. The stock had previously closed at $5.67.

Analysts Set New Price Targets

Several brokerages have commented on FAC. Zacks Research upgraded shares of Factorial Energy to a “hold” rating in a research note on Wednesday, June 24th. Cantor Fitzgerald assumed coverage on Factorial Energy in a report on Tuesday, June 23rd. They issued an “overweight” rating and a $18.00 price objective on the stock. One investment analyst has rated the stock with a Buy rating and one has given a Hold rating to the company’s stock. Based on data from MarketBeat.com, the stock currently has an average rating of “Moderate Buy” and an average target price of $18.00.

Factorial Energy Trading Up 6.2%

The company has a market capitalization of $596.65 million and a price-to-earnings ratio of 23.23.

Factorial Energy Company Profile

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.