Heliogen (NYSE:HLGN) Posts Quarterly Earnings Results

Heliogen (NYSE:HLGN) released its quarterly earnings results on Monday. The company reported ($13.15) earnings per share for the quarter, reports. Heliogen had a negative net margin of 830.91% and a negative return on equity of 146.12%. The firm had revenue of ($1.16) million for the quarter.

Heliogen Trading Down 1.4 %

Heliogen stock opened at $1.38 on Thursday. The business’s fifty day simple moving average is $1.55 and its two-hundred day simple moving average is $2.06. Heliogen has a 12 month low of $0.52 and a 12 month high of $13.65. The company has a market capitalization of $8.16 million, a price-to-earnings ratio of -0.06 and a beta of 2.36.

Analysts Set New Price Targets

Separately, Melius Research restated a “hold” rating on shares of Heliogen in a research report on Tuesday.

Institutional Investors Weigh In On Heliogen

Several hedge funds have recently added to or reduced their stakes in HLGN. JPMorgan Chase & Co. bought a new stake in Heliogen in the first quarter worth $34,000. Bank of New York Mellon Corp purchased a new position in shares of Heliogen in the first quarter worth $615,000. Citigroup Inc. purchased a new position in shares of Heliogen in the first quarter worth $91,000. BlackRock Inc. purchased a new position in shares of Heliogen in the first quarter worth $5,908,000. Finally, Allianz Asset Management GmbH purchased a new position in shares of Heliogen in the first quarter worth $3,267,000. 27.58% of the stock is owned by institutional investors.

Heliogen 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.