Heliogen (NYSE:HLGN) Shares Up 2.1%

Heliogen, Inc. (NYSE:HLGNGet Rating) shares shot up 2.1% during trading on Thursday . The stock traded as high as $0.67 and last traded at $0.64. 821,410 shares were traded during mid-day trading, a decline of 8% from the average session volume of 892,471 shares. The stock had previously closed at $0.63.

Analysts Set New Price Targets

Separately, Citigroup dropped their price objective on Heliogen from $4.25 to $2.00 and set a “neutral” rating on the stock in a report on Wednesday, November 2nd.

Heliogen Price Performance

The firm has a fifty day simple moving average of $0.85 and a 200 day simple moving average of $1.71.

Heliogen (NYSE:HLGNGet Rating) last released its earnings results on Monday, November 7th. The company reported ($0.14) earnings per share for the quarter. The firm had revenue of $3.10 million during the quarter. Heliogen had a negative net margin of 1,091.32% and a negative return on equity of 87.56%.

Insider Activity

In other news, CEO William Gross bought 50,000 shares of the firm’s stock in a transaction dated Friday, November 18th. The shares were acquired at an average price of $1.00 per share, for a total transaction of $50,000.00. Following the completion of the transaction, the chief executive officer now directly owns 1,672,612 shares in the company, valued at approximately $1,672,612. The acquisition was disclosed in a filing with the SEC, which is available through the SEC website. In related news, insider Andrew Alan Lambert acquired 48,000 shares of Heliogen stock in a transaction that occurred on Tuesday, December 20th. The shares were purchased at an average price of $0.61 per share, for a total transaction of $29,280.00. Following the completion of the transaction, the insider now owns 737,311 shares in the company, valued at approximately $449,759.71. The purchase was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, CEO William Gross acquired 50,000 shares of Heliogen stock in a transaction that occurred on Friday, November 18th. The shares were bought at an average price of $1.00 per share, for a total transaction of $50,000.00. Following the transaction, the chief executive officer now owns 1,672,612 shares of the company’s stock, valued at approximately $1,672,612. The disclosure for this purchase can be found here. Company insiders own 8.70% of the company’s stock.

Hedge Funds Weigh In On Heliogen

A number of institutional investors have recently added to or reduced their stakes in the stock. Vanguard Group Inc. lifted its position in Heliogen by 403.2% during the third quarter. Vanguard Group Inc. now owns 7,393,944 shares of the company’s stock worth $13,752,000 after buying an additional 5,924,699 shares in the last quarter. Capital World Investors purchased a new position in Heliogen during the first quarter worth approximately $30,508,000. BlackRock Inc. lifted its position in Heliogen by 129.0% during the third quarter. BlackRock Inc. now owns 5,465,737 shares of the company’s stock worth $10,166,000 after buying an additional 3,079,000 shares in the last quarter. State Street Corp increased its stake in Heliogen by 129.0% during the third quarter. State Street Corp now owns 1,879,479 shares of the company’s stock worth $3,496,000 after acquiring an additional 1,058,844 shares during the last quarter. Finally, CIBC Private Wealth Group LLC acquired a new stake in Heliogen during the third quarter worth $1,197,000. Hedge funds and other institutional investors own 39.84% of the company’s stock.

Heliogen Company Profile

(Get Rating)

Heliogen, Inc, a renewable energy technology company, develops an A.I.-enabled, concentrated solar power plant. It offers HelioHeat for the production of heat for use in industrial processes; HelioPower, a solution for power generation; and HelioFuel, a solution for hydrogen fuel production. The company was formerly known as Edison Microgrids, Inc and changed its name to Heliogen, Inc in November 2019.

Further Reading

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