Factorial Energy (NASDAQ:FAC) Shares Down 8.2% – Here’s Why

Factorial Energy (NASDAQ:FAC)’s stock price fell 8.2% during trading on Monday . The stock traded as low as $8.60 and last traded at $8.5540. Approximately 42,711 shares traded hands during trading, a decline of 83% from the average daily volume of 254,366 shares. The stock had previously closed at $9.32.

Wall Street Analyst Weigh In

FAC has been the topic of a number of recent analyst reports. Zacks Research raised shares of Factorial Energy to a “hold” rating in a research report on Wednesday, June 24th. Cantor Fitzgerald began coverage on Factorial Energy in a research report on Tuesday, June 23rd. They set an “overweight” rating and a $18.00 target price for the company. One research analyst has rated the stock with a Buy rating and one has issued a Hold rating to the stock. According to MarketBeat, the company has a consensus rating of “Moderate Buy” and an average price target of $18.00.

Factorial Energy Price Performance

The company has a market capitalization of $729.23 million and a price-to-earnings ratio of 28.10.

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.