Short Interest in Fluence Energy, Inc. (NASDAQ:FLNC) Grows By 8.7%

Fluence Energy, Inc. (NASDAQ:FLNC) was the target of a significant growth in short interest in March. As of March 31st, there was short interest totalling 13,690,000 shares, a growth of 8.7% from the March 15th total of 12,600,000 shares. Based on an average daily volume of 2,400,000 shares, the days-to-cover ratio is currently 5.7 days.

Institutional Investors Weigh In On Fluence Energy

A number of large investors have recently modified their holdings of the business. National Bank of Canada FI acquired a new stake in shares of Fluence Energy during the third quarter worth $27,000. Quarry LP acquired a new stake in Fluence Energy during the 4th quarter worth about $38,000. Pflug Koory LLC purchased a new position in shares of Fluence Energy in the first quarter worth about $35,000. Allspring Global Investments Holdings LLC increased its holdings in Fluence Energy by 185.3% in the 3rd quarter. Allspring Global Investments Holdings LLC now owns 2,137 shares of the company’s stock worth $49,000 after buying an additional 1,388 shares during the period. Finally, Comerica Bank boosted its holdings in shares of Fluence Energy by 724.9% in the 4th quarter. Comerica Bank now owns 2,351 shares of the company’s stock valued at $56,000 after acquiring an additional 2,066 shares during the last quarter. Hedge funds and other institutional investors own 53.16% of the company’s stock.

Analyst Ratings Changes

A number of equities research analysts have commented on FLNC shares. Piper Sandler decreased their price target on Fluence Energy from $25.00 to $20.00 and set a “neutral” rating on the stock in a report on Thursday, April 11th. BMO Capital Markets raised shares of Fluence Energy from a “market perform” rating to an “outperform” rating and set a $27.00 target price on the stock in a report on Tuesday, January 16th. JPMorgan Chase & Co. raised shares of Fluence Energy from a “neutral” rating to an “overweight” rating and set a $23.00 price objective for the company in a report on Friday, February 23rd. The Goldman Sachs Group decreased their target price on Fluence Energy from $32.00 to $26.00 and set a “buy” rating on the stock in a research report on Friday, March 22nd. Finally, Susquehanna raised shares of Fluence Energy from a “neutral” rating to a “positive” rating and set a $24.00 target price on the stock in a research note on Monday, February 26th. One investment analyst has rated the stock with a sell rating, two have assigned a hold rating and fourteen have given a buy rating to the company. Based on data from MarketBeat, Fluence Energy currently has a consensus rating of “Moderate Buy” and an average target price of $28.56.

Fluence Energy Stock Performance

FLNC traded up $0.05 on Wednesday, hitting $16.10. The company had a trading volume of 987,267 shares, compared to its average volume of 2,283,800. The stock has a market capitalization of $2.88 billion, a price-to-earnings ratio of -30.66 and a beta of 2.57. The stock has a fifty day moving average price of $16.70 and a 200-day moving average price of $19.52. Fluence Energy has a 12-month low of $13.03 and a 12-month high of $31.32.

Fluence Energy (NASDAQ:FLNC) last announced its earnings results on Wednesday, February 7th. The company reported ($0.14) earnings per share for the quarter, missing the consensus estimate of ($0.13) by ($0.01). Fluence Energy had a negative net margin of 2.72% and a negative return on equity of 11.18%. The firm had revenue of $363.96 million during the quarter, compared to analyst estimates of $403.93 million. During the same quarter last year, the business earned ($0.21) earnings per share. Fluence Energy’s revenue was up 17.2% on a year-over-year basis. Analysts forecast that Fluence Energy will post 0.14 EPS for the current fiscal year.

About Fluence Energy

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.