Factorial Energy (NASDAQ:FAC) Short Interest Up 377.7% in August

Factorial Energy (NASDAQ:FAC) saw a significant increase in short interest during the month of August. As of August 31st, there was short interest totaling 877,824 shares, an increase of 377.7% from the August 15th total of 183,773 shares. Based on an average daily trading volume, of 313,321 shares, the days-to-cover ratio is presently 2.8 days. Approximately 0.9% of the shares of the company are sold short.

Wall Street Analysts Forecast Growth

Several brokerages have recently issued reports on FAC. Zacks Research upgraded shares of Factorial Energy to a “hold” rating in a research note on Wednesday, June 24th. Wall Street Zen downgraded shares of Factorial Energy from a “sell” rating to a “strong sell” rating in a report on Sunday, August 16th. Oppenheimer initiated coverage on shares of Factorial Energy in a research report on Tuesday, August 25th. They issued an “outperform” rating and a $8.00 price target on the stock. Cantor Fitzgerald restated an “overweight” rating and set a $18.00 price objective on shares of Factorial Energy in a report on Wednesday, August 12th. Finally, Weiss Ratings raised shares of Factorial Energy from a “sell (e-)” rating to a “sell (e)” rating in a research report on Tuesday, September 1st. Two research analysts have rated the stock with a Buy rating, one has assigned a Hold rating and one has given a Sell rating to the stock. Based on data from MarketBeat, the company currently has an average rating of “Hold” and an average target price of $13.00.

Factorial Energy Price Performance

NASDAQ:FAC traded up $0.05 during mid-day trading on Friday, hitting $5.31. The company’s stock had a trading volume of 194,690 shares, compared to its average volume of 295,824. Factorial Energy has a fifty-two week low of $4.24 and a fifty-two week high of $25.33. The firm has a market cap of $568.28 million, a P/E ratio of -8.05 and a beta of 1.20. The company has a fifty day simple moving average of $5.77.

Factorial Energy (NASDAQ:FAC) last released its quarterly earnings data on Tuesday, August 11th. The company reported ($0.85) earnings per share for the quarter. Sell-side analysts expect that Factorial Energy will post -0.28 EPS for the current year.

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.