Factorial Energy (NASDAQ:FAC) Shares Shorted: Short Interest Up 120.6% in September

Factorial Energy (NASDAQ:FAC) was the target of a large increase in short interest in the month of September. As of September 30th, there was short interest totaling 1,332,469 shares, an increase of 120.6% from the September 15th total of 603,983 shares. Currently, 1.4% of the company’s stock are sold short. Based on an average daily trading volume, of 631,716 shares, the days-to-cover ratio is currently 2.1 days.

Factorial Energy Stock Performance

Shares of Factorial Energy stock opened at $4.97 on Tuesday. The company has a market capitalization of $531.78 million, a price-to-earnings ratio of -7.78 and a beta of 0.82. Factorial Energy has a fifty-two week low of $4.24 and a fifty-two week high of $25.33. The company has a 50-day moving average price of $5.48.

Factorial Energy (NASDAQ:FAC) last released its earnings results on Tuesday, August 11th. The company reported ($0.85) EPS for the quarter. On average, equities analysts anticipate that Factorial Energy will post -0.28 EPS for the current year.

Analysts Set New Price Targets

A number of research firms have weighed in on FAC. Cantor Fitzgerald restated an “overweight” rating and issued a $18.00 price target on shares of Factorial Energy in a report on Wednesday, August 12th. Zacks Research upgraded shares of Factorial Energy to a “hold” rating in a research note on Wednesday, June 24th. Oppenheimer assumed coverage on shares of Factorial Energy in a research note on Tuesday, August 25th. They set an “outperform” rating and a $8.00 price target on the stock. Weiss Ratings upgraded shares of Factorial Energy from a “sell (e)” rating to a “sell (d)” rating in a report on Friday, September 25th. Finally, Wall Street Zen cut shares of Factorial Energy from a “sell” rating to a “strong sell” rating in a research report on Sunday, August 16th. Two equities research analysts have rated the stock with a Buy rating, one has issued a Hold rating and one has given a Sell rating to the company’s stock. According to MarketBeat, Factorial Energy has a consensus rating of “Hold” and an average price target of $13.00.

About Factorial Energy

Factorial Energy is a battery technology company developing solid-state batteries for electric vehicles and other energy-storage applications. Its technology is designed to replace conventional liquid electrolytes with solid materials, with the goal of improving energy density, safety and charging performance.

The company’s product development efforts include its FEST (Factorial Electrolyte System Technology) platform, which is intended for use in lithium-metal solid-state battery cells.