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 $29,165 were purchased by Lambert Andrew Alan on Dec 20. At $0.61 per share, Lambert Andrew Alan acquired 48,000 shares. The insider’s holdings grew to 737,311 shares worth approximately $0.15 million following the completion of this transaction.
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Also, GROSS WILLIAM purchased 50,000 shares, netting a total of over 50,000 in proceeds. Following the buying of shares at $1.00 each, the insider now holds 1,672,612 shares.
Before that, NeoTribe Partners I, LLC had sold 111,263 shares from its account. In a trade valued at $276,400, the 10% Owner traded Heliogen Inc. shares for $2.48 each. Upon closing the transaction, the insider’s holdings decreased to 111,263 shares, worth approximately $0.15 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 94.4% 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 Stock Performance
On Wednesday, Heliogen Inc. [NYSE: HLGN] plunged -7.91% to $0.21. The stock’s lowest price that day was $0.2025, but it reached a high of $0.2164 in the same session. During the last five days, there has been a drop of approximately -20.27%. Over the course of the year, Heliogen Inc. shares have dropped approximately -70.31%. Shares of the company reached a 52-week high of $0.7499 on 01/18/23 and a 52-week low of $0.2000 on 03/10/23. A 50-day SMA is recorded $0.4821, while a 200-day SMA reached $1.6146. Nevertheless, trading volume fell to 2.62 million shares from 3.09 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 0.2011, which, if violated, would cause prices to drop to 0.1948. In the upper region, resistance lies at 0.2150. The next price resistance is at 0.2226. RSI (Relative Strength Index) is 29.20 on the 14-day chart, showing oversold technical sentiment. Moving Average Convergence Divergence (MACD) is at -0.0586, which suggests the price will decrease in the coming days. Percent R is at 95.03%, 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 steep in short interest on Jan 30, 2023 dropping by -2.79 million shares to 3.45 million. Data from Yahoo Finance shows that the short interest on Dec 29, 2022 was 6.24 million shares. A decline of -80.87% in short interest reflects a negative sentiment towards the stock. Despite the fact that short shares comprise just 3.85 of the overall float, the days-to-cover ratio (short ratio) decline to 3.85.
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 13.40% of the total HLGN shares outstanding. With the completion of the sale transaction, The Vanguard Group, Inc.’s stake is now worth $2,113,113. A total of 3,709,764 shares of Heliogen Inc. were bought by Millennium Management LLC during the quarter, and 200,517 were bought by SSgA Funds Management, Inc. In its current portfolio, Geode Capital Management LLC holds 1,628,599 shares valued at $0.5 million.
In terms of Heliogen Inc. share price expectations, FactSet research, analysts set an average price target of $1.31 in the next 12 months, up nearly 182.61% from the previous closing price of $0.23. Analysts anticipate Heliogen Inc. stock to reach $3.00 by 2023, with the lowest price target being $0.29. In spite of this, 3 analysts ranked Heliogen Inc. stock as an Overweight at the end of 2023.