Fluence Energy (NASDAQ:FLNC) Stock Price Up 3.2%

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

Wall Street Analysts Forecast Growth

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

Fluence Energy Stock Down 2.5 %

The company has a 50-day moving average price of $16.55 and a two-hundred day moving average price of $19.45. The stock has a market capitalization of $2.78 billion, a P/E ratio of -29.40 and a beta of 2.57.

Fluence Energy (NASDAQ:FLNC) last issued its earnings results on Wednesday, February 7th. The company reported ($0.14) earnings per share (EPS) for the quarter, missing the consensus estimate 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 return on equity of 11.18% and a negative net margin of 2.72%. The firm’s quarterly revenue was up 17.2% compared to the same quarter last year. During the same period in the prior year, the company earned ($0.21) EPS. On average, sell-side analysts expect that Fluence Energy, Inc. will post 0.14 earnings per share for the current year.

Institutional Trading of Fluence Energy

A number of institutional investors and hedge funds have recently added to or reduced their stakes in the business. Ameritas Investment Partners Inc. lifted its stake in Fluence Energy by 20.6% in the second quarter. Ameritas Investment Partners Inc. now owns 3,251 shares of the company’s stock worth $87,000 after acquiring an additional 556 shares during the period. Advisors Asset Management Inc. boosted its position in shares of Fluence Energy by 6.7% during the first quarter. Advisors Asset Management Inc. now owns 9,939 shares of the company’s stock valued at $201,000 after buying an additional 622 shares during the last quarter. Assenagon Asset Management S.A. boosted its position 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 valued at $326,000 after buying an additional 849 shares during the last quarter. HighTower Advisors LLC boosted its position in Fluence Energy by 7.9% in the first quarter. HighTower Advisors LLC now owns 13,233 shares of the company’s stock worth $269,000 after purchasing an additional 970 shares during the last quarter. Finally, LPL Financial LLC boosted its position in Fluence Energy by 6.5% in the third quarter. LPL Financial LLC now owns 16,810 shares of the company’s stock worth $386,000 after purchasing an additional 1,026 shares during the last quarter. Hedge funds and other institutional investors own 53.16% of the company’s stock.

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.