Heliogen (NYSE:HLGN) Receives “Hold” Rating from Melius Research

Heliogen (NYSE:HLGN)‘s stock had its “hold” rating restated by Melius Research in a report issued on Tuesday, Benzinga reports.

Heliogen Stock Down 1.4 %

HLGN stock opened at $1.38 on Tuesday. Heliogen has a 52-week low of $0.52 and a 52-week high of $13.65. The firm has a market cap of $8.16 million, a P/E ratio of -0.06 and a beta of 2.36. The company’s 50-day simple moving average is $1.55 and its 200-day simple moving average is $2.06.

Institutional Inflows and Outflows

Several large investors have recently made changes to their positions in the business. Vanguard Group Inc. grew its stake in 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 period. Capital World Investors acquired a new stake in shares of Heliogen in the first quarter valued at about $30,508,000. BlackRock Inc. grew its position in shares of Heliogen by 129.0% in the third quarter. BlackRock Inc. now owns 5,465,737 shares of the company’s stock valued at $10,166,000 after purchasing an additional 3,079,000 shares during the period. Renaissance Technologies LLC purchased a new stake in shares of Heliogen during the fourth quarter worth about $1,038,000. Finally, State Street Corp raised its position in shares of Heliogen by 129.0% during the 3rd quarter. State Street Corp now owns 1,879,479 shares of the company’s stock worth $3,496,000 after purchasing an additional 1,058,844 shares during the last quarter. 27.58% of the stock is owned by institutional investors and hedge funds.

About Heliogen

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.