Heliogen (NYSE:HLGN) Trading Down 3.4%

Heliogen, Inc. (NYSE:HLGNGet Free Report) shares fell 3.4% during mid-day trading on Wednesday . The stock traded as low as $1.38 and last traded at $1.40. 4,611 shares were traded during trading, a decline of 51% from the average session volume of 9,413 shares. The stock had previously closed at $1.45.

Heliogen Price Performance

The firm has a market cap of $8.27 million, a price-to-earnings ratio of -0.09 and a beta of 2.36. The firm has a 50 day moving average price of $1.59 and a 200-day moving average price of $2.24.

Hedge Funds Weigh In On Heliogen

Several hedge funds have recently added to or reduced their stakes in the stock. Price T Rowe Associates Inc. MD acquired a new stake in shares of Heliogen during the third quarter worth about $27,000. JPMorgan Chase & Co. bought a new position in shares of Heliogen during the first quarter worth about $34,000. Point72 Middle East FZE bought a new position in shares of Heliogen during the fourth quarter worth about $37,000. UBS Group AG grew its holdings in shares of Heliogen by 1,178.0% during the first quarter. UBS Group AG now owns 7,080 shares of the company’s stock worth $37,000 after buying an additional 6,526 shares in the last quarter. Finally, Captrust Financial Advisors bought a new position in shares of Heliogen during the first quarter worth about $38,000. Institutional investors and hedge funds own 48.64% of the company’s stock.

About Heliogen

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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.

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