Fluence Energy (NASDAQ:FLNC) Trading 3.2% Higher

Shares of Fluence Energy, Inc. (NASDAQ:FLNC) shot up 3.2% during trading on Wednesday . The stock traded as high as $16.80 and last traded at $16.57. 485,568 shares traded hands during trading, a decline of 79% from the average session volume of 2,276,263 shares. The stock had previously closed at $16.05.

Analyst Ratings Changes

FLNC has been the subject of a number of research reports. Raymond James raised shares of Fluence Energy from a “market perform” rating to an “outperform” rating and set a $22.00 price objective for the company in a research note on Wednesday, April 3rd. The Goldman Sachs Group reduced their price objective on Fluence Energy from $32.00 to $26.00 and set a “buy” rating on the stock in a research note on Friday, March 22nd. JPMorgan Chase & Co. raised Fluence Energy from a “neutral” rating to an “overweight” rating and set a $23.00 target price for the company in a research note on Friday, February 23rd. Piper Sandler reduced their price target on Fluence Energy from $25.00 to $20.00 and set a “neutral” rating on the stock in a research report on Thursday, April 11th. Finally, BMO Capital Markets raised Fluence Energy from a “market perform” rating to an “outperform” rating and set a $27.00 price target on the stock in a research note on Tuesday, January 16th. One equities research analyst has rated the stock with a sell rating, two have assigned a hold rating and fourteen have issued a buy rating to the stock. Based on data from MarketBeat, Fluence Energy has an average rating of “Moderate Buy” and a consensus price target of $28.56.

Fluence Energy Stock Up 1.2 %

The company’s fifty day simple moving average is $16.70 and its 200 day simple moving average is $19.52. The firm has a market capitalization of $2.90 billion, a PE ratio of -30.66 and a beta of 2.57.

Fluence Energy (NASDAQ:FLNC) last released its earnings results on Wednesday, February 7th. The company reported ($0.14) EPS for the quarter, missing analysts’ consensus estimates of ($0.13) by ($0.01). The firm had revenue of $363.96 million during the quarter, compared to analysts’ expectations of $403.93 million. Fluence Energy had a negative net margin of 2.72% and a negative return on equity of 11.18%. The company’s revenue for the quarter was up 17.2% compared to the same quarter last year. During the same quarter in the previous year, the business earned ($0.21) EPS. Equities research analysts forecast that Fluence Energy, Inc. will post 0.14 EPS for the current year.

Institutional Trading of Fluence Energy

A number of hedge funds and other institutional investors have recently modified their holdings of FLNC. National Bank of Canada FI bought a new stake in Fluence Energy during the third quarter worth about $27,000. Pflug Koory LLC bought a new stake in shares of Fluence Energy in the 1st quarter worth approximately $35,000. Quarry LP purchased a new stake in shares of Fluence Energy in the 4th quarter worth approximately $38,000. Point72 Hong Kong Ltd bought a new position in Fluence Energy during the 2nd quarter valued at approximately $39,000. Finally, Allspring Global Investments Holdings LLC raised its stake in Fluence Energy by 185.3% during the third quarter. Allspring Global Investments Holdings LLC now owns 2,137 shares of the company’s stock valued at $49,000 after buying an additional 1,388 shares during the last quarter. 53.16% of the stock is owned by hedge funds and other institutional investors.

Fluence Energy Company Profile

Fluence Energy, Inc, through its subsidiaries, offers energy storage products and solution, services, and artificial intelligence enabled software-as-a-service products for renewables and storage applications in the Americas, the Asia Pacific, Europe, the Middle East, and Africa. The company sells energy storage products with integrated hardware, software, and digital intelligence.