Taking a look at what insiders are doing to gauge the Heliogen Inc. (HLGN)’s direction

Investors can expect a company’s stock to rise or fall based on the buying and selling of stock by its insiders. Heliogen Inc. shares valued at $276,400 were sold by NeoTribe Partners I, LLC on Aug 25. At $2.48 per share, NeoTribe Partners I, LLC sold 111,263 shares. The insider’s holdings dropped to 728,950 shares worth approximately $1.27 million following the completion of this transaction.

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Also, NeoTribe Partners I, LLC sold 138,665 shares, netting a total of over 353,956 in proceeds. Following the sale of shares at $2.55 each, the insider now holds 733,255 shares.

Before that, NeoTribe Partners I, LLC had sold 159,747 shares from its account. In a trade valued at $386,332, the 10% Owner traded Heliogen Inc. shares for $2.42 each. Upon closing the transaction, the insider’s holdings decreased to 159,747 shares, worth approximately $1.29 million.

As published in their initiating research note from Citigroup on January 25, 2022, Heliogen Inc. [HLGN] has been a Neutral and the price target has been revised to $3.75. This represents a 53.6% premium over Wednesday’s closing price. Analysts at Siebert Williams Shank started covering the stock with ‘”a Hold”‘ outlook in a report released in mid January.

Analyzing HLGN’s Price Performance

On Wednesday, Heliogen Inc. [NYSE: HLGN] plunged -9.84% to $1.74. The stock’s lowest price that day was $1.68, but it reached a high of $1.95 in the same session. During the last five days, there has been a drop of approximately -26.58%. Over the course of the year, Heliogen Inc. shares have dropped approximately -88.79%. Nevertheless, trading volume fell to 4.12 million shares from 3.76 million shares the previous day.

Support And Resistance Levels for Heliogen Inc. (HLGN)

According to the 24-hour chart, there is a support level at 1.6300, which, if violated, would cause prices to drop to 1.5200. In the upper region, resistance lies at 1.9000. The next price resistance is at 2.0600. RSI (Relative Strength Index) is 37.03 on the 14-day chart, showing neutral technical sentiment. Moving Average Convergence Divergence (MACD) is at -0.3021, which suggests the price will decrease in the coming days. Percent R is at 93.33%, indicating bearish price movement. Stochastics %K at buying indicates that the stock is to be held.

Is Heliogen Inc. subject to short interest?

Stocks of Heliogen Inc. saw a sharp rise in short interest on Jul 14, 2022 jumping by 2.09 million shares to 3.42 million. Data from Yahoo Finance shows that the short interest on Jun 14, 2022 was 1.33 million shares. A jump of 61.11% in short interest reflects a positive sentiment towards the stock. Despite the fact that short shares comprise just 1.63 of the overall float, the days-to-cover ratio (short ratio) jumped to 1.63.

Which companies own the most shares of Heliogen Inc. (HLGN)?

According to Nant Capital LLC filings, the company currently owns 25,657,986 shares, which is about 13.48% of the total HLGN shares outstanding. Morgan Stanley Investment Managem reduced a -6.67% interest valued at $14.43 million while Capital Research & Management Co 0 stake. In its current portfolio, Shanda Interactive Entertainment holds 1,359,330 shares valued at $3.26 million.

In terms of Heliogen Inc. share price expectations, FactSet research, analysts set an average price target of $12.00 in the next 12 months, up nearly 521.76% from the previous closing price of $1.93. Analysts anticipate Heliogen Inc. stock to reach $19.00 by 2022, with the lowest price target being $5.00. In spite of this, 2 analysts ranked Heliogen Inc. stock as an Overweight at the end of 2022.


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