Fluence Energy (NASDAQ:FLNC) Stock Price Up 4.9%

Fluence Energy, Inc. (NASDAQ:FLNC)’s share price shot up 4.9% during trading on Monday . The stock traded as high as $17.75 and last traded at $17.67. 175,838 shares were traded during mid-day trading, a decline of 92% from the average session volume of 2,184,644 shares. The stock had previously closed at $16.85.

Wall Street Analyst Weigh In

Several equities research analysts have recently issued reports on the company. Susquehanna raised Fluence Energy from a “neutral” rating to a “positive” rating and set a $24.00 target price on the stock in a report on Monday, February 26th. Piper Sandler lowered their price target on Fluence Energy from $25.00 to $20.00 and set a “neutral” rating for the company in a report on Thursday, April 11th. Bank of America boosted their price target on Fluence Energy from $26.00 to $28.00 and gave the company a “buy” rating in a report on Thursday, January 4th. Raymond James upgraded Fluence Energy from a “market perform” rating to an “outperform” rating and set a $22.00 target price for the company in a report on Wednesday, April 3rd. Finally, JPMorgan Chase & Co. raised Fluence Energy from a “neutral” rating to an “overweight” rating and set a $23.00 price target on the stock in a research report on Friday, February 23rd. One analyst has rated the stock with a sell rating, two have issued a hold rating and fourteen have issued a buy rating to the stock. According to MarketBeat, the stock presently has an average rating of “Moderate Buy” and an average target price of $28.56.

Fluence Energy Trading Up 6.2 %

The firm has a market capitalization of $3.20 billion, a price-to-earnings ratio of -33.28 and a beta of 2.57. The company has a fifty day moving average price of $15.86 and a two-hundred day moving average price of $19.17.

Fluence Energy (NASDAQ:FLNC) last announced its earnings results on Wednesday, February 7th. The company reported ($0.14) earnings per share (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 firm’s revenue for the quarter was up 17.2% compared to the same quarter last year. During the same period in the previous year, the firm earned ($0.21) EPS. As a group, equities research analysts expect that Fluence Energy, Inc. will post 0.14 earnings per share for the current year.

Hedge Funds Weigh In On Fluence Energy

Institutional investors have recently modified their holdings of the business. Assenagon Asset Management S.A. grew its stake in shares of Fluence Energy by 6.6% during the fourth quarter. Assenagon Asset Management S.A. now owns 13,648 shares of the company’s stock worth $326,000 after purchasing an additional 849 shares in the last quarter. Renaissance Capital LLC grew its stake in shares of Fluence Energy by 3.0% during the first quarter. Renaissance Capital LLC now owns 38,243 shares of the company’s stock worth $663,000 after purchasing an additional 1,111 shares in the last quarter. National Bank of Canada FI acquired a new position in shares of Fluence Energy during the third quarter worth $27,000. Commonwealth Equity Services LLC grew its stake in shares of Fluence Energy by 11.5% during the third quarter. Commonwealth Equity Services LLC now owns 11,619 shares of the company’s stock worth $267,000 after purchasing an additional 1,202 shares in the last quarter. Finally, Allspring Global Investments Holdings LLC grew its stake in shares of Fluence Energy by 185.3% during the third quarter. Allspring Global Investments Holdings LLC now owns 2,137 shares of the company’s stock worth $49,000 after purchasing an additional 1,388 shares in the last quarter. Institutional investors and hedge funds own 53.16% of the company’s stock.

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.