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HLGN

Heliogen NYSE:HLGN Stock Report

Last Price

US$2.45

Market Cap

US$466.4m

7D

-9.3%

1Y

-75.2%

Updated

15 Aug, 2022

Data

Company Financials +
HLGN fundamental analysis
Snowflake Score
Valuation2/6
Future Growth2/6
Past Performance0/6
Financial Health5/6
Dividends0/6

HLGN Stock Overview

Heliogen, Inc., a renewable energy technology company, develops an A.I.-enabled, concentrated solar power plant.

Heliogen, Inc. Competitors

Price History & Performance

Summary of all time highs, changes and price drops for Heliogen
Historical stock prices
Current Share PriceUS$2.45
52 Week HighUS$16.35
52 Week LowUS$1.75
Beta0
1 Month Change23.74%
3 Month Change-24.38%
1 Year Change-75.18%
3 Year Changen/a
5 Year Changen/a
Change since IPO-74.51%

Recent News & Updates

Aug 10

Heliogen GAAP EPS of -$0.11, revenue of $2.39M

Heliogen press release (NYSE:HLGN): Q2 GAAP EPS of -$0.11. Revenue of $2.39M. 2022 Guidance Reaffirmed Heliogen today also reaffirmed its previously announced 2022 guidance of two to three modules contracted and $20 - $25 million of revenue.

Jul 22

Heliogen: I Am Still Not Sold On Solar Thermal After Ivanpah

Heliogen is a company that is developing solar thermal energy generation applications. While certainly interesting as a renewable technology, the narrative remains unproven, especially after other issues in the past. Until the company has numerous case studies and a stable financial profile, I will remain uninterested in the investment. Solar Thermal Energy Generation Returns Heliogen (HLGN) is attempting to profit from an area of renewables that has had a few issues over the years: solar thermal. Essentially, mirrors direct light onto a central tower that is full of a high melting point substance, usually molten salt, which then drives steam electricity generation. Benefits over solar panels include the ability for the molten substance to be hot well past sunset to extend the available generation time frame. When combined with energy storage systems, the ability to run constantly is likely, and beneficial for users. This will be the main drawing point for Heliogen clients. However, some issues regarding the generation capabilities of solar thermal plants have risen from NRG Energy (NRG) and Google's (GOOG) Ivanpah site. According to MIT Tech Review, the main issue is cost and production inefficiency, which almost led to the location being decommissioned. Utilities PG&E (PCG) and SoCal Edison (EIX) were quite upset when the plant was not up to contracted energy levels by late 2015, a year after initial operation started: One of the most ambitious solar energy projects on the planet is in trouble. The $2.2 billion Ivanpah concentrated solar power facility in California has fallen well short of its expected power output and now has a year to get itself back on track, or it risks being forced to shut down. Built with great fanfare by BrightSource Energy, NRG Energy, and Google, Ivanpah has been dogged by criticism from environmentalists since construction began. The plant uses thousands of mirrors to concentrate the sun's energy and heat water to produce steam and generate electricity. But since it came online in 2014, the power it produces has been much more expensive than electricity from solar plants that get their energy from photovoltaic cells, to say nothing of power from natural gas. Since then, new solar thermal projects have been few and far between, especially due to falling prices of photovoltaics. While it is noble for Heliogen to step up to the plate and bat for this potentially useful application, especially in smaller-than-utility applications, I am unsure whether the financial outcome will be satisfactory. However, let's take a look at the Heliogen platform so far. Heliogen Investor Presentation Importantly, Heliogen is looking to reduce the cost of concentrated solar technology by using smaller, more efficient applications. In particular, the company looks to drive growth in three ways. First, by allowing modular deployment in various industrial regions, the company has the ability to transmit superheated liquid to neighboring industrial companies for their own usage. At the same time, Heliogen can produce their own electricity and supply it to the grid. Lastly, the company will attempt to leverage the growing hydrogen fuel push by using an electrolyzer to create green hydrogen. Then, the company can deliver renewable fuels around the world. Heliogen It is good that the company is trying to be nimble and not bogged down by heavy infrastructure developments. However, as the company is in an early stage the relative cost of Heliogen's products is not available. Thankfully, development is moving along so far, and multiple contracts have initially been announced. I will let the management summarize recent news, including the announcement of Rio Tinto (RIO) as a customer: 'During the first quarter, we finalized and signed the full project agreement with Woodside for our first commercial-scale, single-module 5 MWe facility,' continued Gross. 'We continue to make great progress with several other potential customers including global metals and mining company Rio Tinto. I'm also pleased with the discussions taking place with Woodside as we kick off our collaboration effort to jointly market Heliogen's technology in Australia. 'On the manufacturing and development side, we have made rapid progress on the build-out of our facility in Long Beach, California. Multiple fully-automated pilot production lines are now operational along with the vast majority of our reliability and testing lab. We remain on track for the main production lines to be operational in the second half of this year. The impressive progress our production team has made on this facility is a testament to their ingenuity and efficiency, which we expect to apply across all manufacturing, installation and operational efforts,' concluded Gross. As you can see, the company is already focusing on the creation of low-cost systems, perhaps at the cost of early funding. However, advanced production technology should play out down the road. This will help reduce the risk associated with the current low cost of competitive forms of energy generation, primarily solar at the moment. To this point, I would like to compare Ivanpah's decline to Heliogen's potential headwinds. As KQED reported in regards to Ivanpah, utilities had to pay almost four times as much for thermal solar than regular photovoltaics, in 2014/15!

Shareholder Returns

HLGNUS ElectricalUS Market
7D-9.3%4.8%3.6%
1Y-75.2%-13.4%-9.6%

Return vs Industry: HLGN underperformed the US Electrical industry which returned -13.8% over the past year.

Return vs Market: HLGN underperformed the US Market which returned -10.2% over the past year.

Price Volatility

Is HLGN's price volatile compared to industry and market?
HLGN volatility
HLGN Average Weekly Movement21.3%
Electrical Industry Average Movement11.5%
Market Average Movement7.7%
10% most volatile stocks in US Market16.9%
10% least volatile stocks in US Market3.2%

Stable Share Price: HLGN is more volatile than 90% of US stocks over the past 3 months, typically moving +/- 21% a week.

Volatility Over Time: HLGN's weekly volatility (21%) has been stable over the past year, but is still higher than 75% of US stocks.

About the Company

FoundedEmployeesCEOWebsite
2013150Bill Grosshttps://www.heliogen.com

Heliogen, Inc., a renewable energy technology company, develops an A.I.-enabled, concentrated solar power plant. It offers HelioHeat for the production of heat for use in industrial processes; HelioPower, a solution for power generation; and HelioFuel, a solution for hydrogen fuel production. The company was formerly known as Edison Microgrids, Inc. and changed its name to Heliogen, Inc. in November 2019.

Heliogen, Inc. Fundamentals Summary

How do Heliogen's earnings and revenue compare to its market cap?
HLGN fundamental statistics
Market CapUS$466.37m
Earnings (TTM)-US$156.20m
Revenue (TTM)US$13.37m

34.9x

P/S Ratio

-3.0x

P/E Ratio

Earnings & Revenue

Key profitability statistics from the latest earnings report
HLGN income statement (TTM)
RevenueUS$13.37m
Cost of RevenueUS$13.49m
Gross Profit-US$114.00k
Other ExpensesUS$156.09m
Earnings-US$156.20m

Last Reported Earnings

Jun 30, 2022

Next Earnings Date

n/a

Earnings per share (EPS)-0.82
Gross Margin-0.85%
Net Profit Margin-1,167.97%
Debt/Equity Ratio0.01%

How did HLGN perform over the long term?

See historical performance and comparison