Melius Research Reiterates “Hold” Rating for Heliogen (NYSE:HLGN)

Heliogen (NYSE:HLGNGet Free Report)‘s stock had its “hold” rating reiterated by Melius Research in a research note issued to investors on Tuesday, Benzinga reports.

Heliogen Price Performance

Shares of NYSE:HLGN opened at $1.38 on Tuesday. The company has a 50 day moving average of $1.55 and a 200-day moving average of $2.06. Heliogen has a one year low of $0.52 and a one year high of $13.65. The stock has a market cap of $8.16 million, a price-to-earnings ratio of -0.06 and a beta of 2.36.

Hedge Funds Weigh In On Heliogen

Several hedge funds have recently added to or reduced their stakes in HLGN. Vanguard Group Inc. increased its stake in shares of Heliogen by 403.2% in the 3rd quarter. Vanguard Group Inc. now owns 7,393,944 shares of the company’s stock valued at $13,752,000 after acquiring an additional 5,924,699 shares during the last quarter. Capital World Investors bought a new stake in Heliogen in the first quarter valued at approximately $30,508,000. BlackRock Inc. boosted its position in shares of Heliogen by 129.0% during the third quarter. BlackRock Inc. now owns 5,465,737 shares of the company’s stock worth $10,166,000 after purchasing an additional 3,079,000 shares in the last quarter. Renaissance Technologies LLC acquired a new position in shares of Heliogen in the 4th quarter valued at $1,038,000. Finally, State Street Corp increased its position in shares of Heliogen by 129.0% in the 3rd quarter. State Street Corp now owns 1,879,479 shares of the company’s stock valued at $3,496,000 after buying an additional 1,058,844 shares in the last quarter. Institutional investors and hedge funds own 27.58% of the company’s stock.

Heliogen Company Profile

(Get Free Report)

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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