The stock of Heliogen Inc. (NYSE:HLGN) last traded at $0.28, up 5.93% from the previous session.
Data from the available sources indicates that Heliogen Inc. (NYSE:HLGN) is covered by 3 analysts. The consensus rating among analysts is ‘Overweight’. As we calculate the median target price by taking the range between a high of $3.00 and a low of $0.25, we find $0.65. Given the previous closing price of $0.26, this indicates a potential upside of 150.0 percent. HLGN stock price is now 9.18% away from the 50-day moving average and -59.97% away from the 200-day moving average. The market capitalization of the company currently stands at $52.15M.
In total, 2 analysts have assigned it a hold rating, and 1 have given it a buy rating. Brokers who have rated the stock have averaged $1.30 as their price target over the next twelve months.
With the price target of $3.75, Citigroup recently initiated with Neutral rating for Heliogen Inc. (NYSE: HLGN).
In other news, Nant Capital, LLC, 10% Owner bought 634,251 shares of the company’s stock on Jun 22. The stock was bought for $146,068 at an average price of $0.23. Upon completion of the transaction, the 10% Owner now directly owns 32,862,027 shares in the company, valued at $9.2 million. An SEC document containing details of the transaction can be found on the SEC’s website. On Jun 22, 10% Owner GROSS WILLIAM sold 730,311 shares of the business’s stock. A total of $167,972 was realized by selling the stock at an average price of $0.23. This leaves the insider owning 4,563,766 shares of the company worth $1.28 million. Insiders disposed of 5,793,066 shares of company stock worth roughly $1.62 million over the past 1 year. A total of 3.90% of the company’s stock is owned by insiders.
There have been several recent changes in the stakes of large investors in HLGN stock. A new stake in Heliogen Inc. shares was purchased by Y-INTERCEPT (HONG KONG) LTD during the first quarter worth $27,000. POINT72 ASSET MANAGEMENT, L.P. invested $25,000 in shares of HLGN during the first quarter. In the first quarter, BANK OF MONTREAL /CAN/ acquired a new stake in Heliogen Inc. valued at approximately $23,000. SIMPLEX TRADING, LLC acquired a new stake in HLGN for approximately $12,000. JEFFERIES GROUP LLC purchased a new stake in HLGN valued at around $6,000 in the second quarter. In total, there are 141 active investors with 51.00% ownership of the company’s stock.
With an opening price of $0.2625 on Wednesday morning, Heliogen Inc. (NYSE: HLGN) set off the trading day. During the past 12 months, Heliogen Inc. has had a low of $0.19 and a high of $3.02. As of last week, the company has a debt-to-equity ratio of 0.00, a current ratio of 2.90, and a quick ratio of 2.80. The fifty day moving average price for HLGN is $0.2537 and a two-hundred day moving average price translates $0.6829 for the stock.
The latest earnings results from Heliogen Inc. (NYSE: HLGN) was released for Mar, 2023. According to the Utilities – Renewable Company, earnings per share came in at -$0.09, beating analysts’ expectations of -$0.15 by 0.06. This compares to -$0.32 EPS in the same period last year. The company reported revenue of $1.94 million for the quarter, compared to $3.54 million a year earlier. Comparatively to last year’s same quarter, the company’s quarterly revenue fell -45.27 percent. For the current quarter, analysts expect HLGN to generate $4.45M in revenue.
Heliogen Inc.(HLGN) Company Profile
Heliogen, Inc., a renewable energy technology company, operates in decarbonizing industry with concentrated sunlight. It is developing a solar solution utilizing computer vision software to align an array of mirrors, reflecting sunlight to a target on the top of a tower. Its artificial intelligence enabled modular system delivers renewable energy in the form of heat, power, or hydrogen fuel. The company’s solutions include HelioHeat, a carbon-free, ultra-high temperature heat to power heavy industrial processes, including the making of cement, steel, and petrochemicals; HelioPower that provides power made from sunlight using supercritical CO2 turbines to power industrial facilities, data centers, and mining operations; and HelioFuel that offers clean fuels, such as green hydrogen that is used to power industry and as fuel in transportation, heavy equipment, and household heating. The company was formerly known as Edison Microgrids, Inc. and changed its name to Heliogen, Inc. in November 2019. The company was founded in 2013 and is headquartered in Pasadena, California.
