Heliogen’s (HLGN) “Hold” Rating Reaffirmed at Melius Research

Melius Research restated their hold rating on shares of Heliogen (NYSE:HLGN) in a research report sent to investors on Tuesday morning, Benzinga reports.

Heliogen Stock Performance

Shares of HLGN opened at $1.45 on Tuesday. Heliogen has a fifty-two week low of $0.52 and a fifty-two week high of $13.65. The company has a market capitalization of $8.57 million, a price-to-earnings ratio of -0.07 and a beta of 2.36. The firm has a 50-day simple moving average of $1.54 and a 200-day simple moving average of $2.05.

Institutional Investors Weigh In On Heliogen

Several hedge funds have recently made changes to their positions in the business. Price T Rowe Associates Inc. MD purchased a new position in Heliogen during the third quarter worth about $27,000. JPMorgan Chase & Co. purchased a new position in Heliogen in the first quarter valued at about $34,000. Point72 Middle East FZE purchased a new position in Heliogen in the fourth quarter valued at about $37,000. UBS Group AG increased its holdings in Heliogen by 1,178.0% in the first quarter. UBS Group AG now owns 7,080 shares of the company’s stock valued at $37,000 after buying an additional 6,526 shares in the last quarter. Finally, Captrust Financial Advisors purchased a new position in shares of Heliogen during the 1st quarter worth approximately $38,000. Institutional investors and hedge funds own 27.58% of the company’s stock.

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.