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

Key Points

• Factorial Energy’s short interest surged 120.6% in September to 1.33 million shares, representing about 1.4% of shares outstanding and 2.1 days of average trading volume.
• Analyst sentiment is mixed, with two Buy ratings, one Hold and one Sell; the consensus is Hold with a $13.00 target price.
• FAC opened at $4.97, near its $4.24 one-year low and well below its $25.33 high. The company reported a quarterly loss of $0.85 per share, while analysts expect a full-year loss of $0.28 per share.

Factorial Energy (NASDAQ:FAC - Get Free Report) was the recipient of a large growth in short interest in the month of September. As of September 30th, there was short interest totaling 1,332,469 shares, a growth of 120.6% from the September 15th total of 603,983 shares. Approximately 1.4% of the company's shares are short sold. Based on an average trading volume of 631,716 shares, the short-interest ratio is currently 2.1 days.

Analyst Ratings Changes

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

Factorial Energy Price Performance

NASDAQ FAC opened at $4.97 on Tuesday. Factorial Energy has a one year low of $4.24 and a one year high of $25.33. The firm has a 50 day simple moving average of $5.48. The stock has a market capitalization of $531.78 million, a price-to-earnings ratio of -7.78 and a beta of 0.82.

Factorial Energy (NASDAQ:FAC - Get Free Report) last issued its earnings results on Tuesday, August 11th. The company reported ($0.85) EPS for the quarter. As a group, sell-side analysts anticipate that Factorial Energy will post -0.28 earnings per share for the current fiscal year.

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.

This instant news alert was generated by narrative science technology and financial data from MarketBeat in order to provide readers with the fastest reporting and unbiased coverage. Please send any questions or comments about this story to contact@marketbeat.com.