Siebert Williams Shank & Co Keeps Their Hold Rating on Heliogen (HLGN)

In a report released today, Gabriele Sorbara from Siebert Williams Shank & Co maintained a Hold rating on Heliogen (HLGNResearch Report), with a price target of $5.00. The company’s shares closed yesterday at $1.56.

According to TipRanks, Sorbara is a 5-star analyst with an average return of 16.1% and a 50.87% success rate. Sorbara covers the Utilities sector, focusing on stocks such as Denbury, SM Energy, and Devon Energy.

Currently, the analyst consensus on Heliogen is a Hold with an average price target of $3.50, which is a 124.36% upside from current levels. In a report released on November 2, Citigroup also maintained a Hold rating on the stock with a $2.00 price target.

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Based on Heliogen’s latest earnings release for the quarter ending June 30, the company reported a quarterly revenue of $964 thousand and a GAAP net loss of $20.22 million. In comparison, last year the company earned a revenue of $845 thousand and had a GAAP net loss of $56.33 million

Based on the recent corporate insider activity of 41 insiders, corporate insider sentiment is negative on the stock. This means that over the past quarter there has been an increase of insiders selling their shares of HLGN in relation to earlier this year.

TipRanks has tracked 36,000 company insiders and found that a few of them are better than others when it comes to timing their transactions. See which 3 stocks are most likely to make moves following their insider activities.

Athena Technology Acquisition Corp is a newly organized blank check company. It is formed for the purpose of effecting a merger, capital stock exchange, asset acquisition, stock purchase, reorganization or similar business combination with one or more businesses.

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