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

Shares of Factorial Energy (NASDAQ:FAC) rose 6% during trading 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.

Analysts Set New Price Targets

Several brokerages have recently weighed in on FAC. Cantor Fitzgerald started coverage on Factorial Energy in a report 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 research analyst has rated the stock with a Buy rating and one has given a Hold rating to the stock. According to data from MarketBeat, the company currently has an average rating of “Moderate Buy” and a consensus price target of $18.00.

Factorial Energy Stock Down 3.2%

The company has a market cap of $588.61 million and a P/E ratio of 22.92.

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.