Fluence Energy (NASDAQ:FLNC) Trading 6.6% Higher

Fluence Energy, Inc. (NASDAQ:FLNC) rose 6.6% during trading on Tuesday . The stock traded as high as $16.75 and last traded at $16.72. Approximately 166,478 shares changed hands during mid-day trading, a decline of 93% from the average daily volume of 2,232,246 shares. The stock had previously closed at $15.69.

Analyst Ratings Changes

FLNC has been the topic of several research analyst reports. 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. Susquehanna upgraded shares of Fluence Energy from a “neutral” rating to a “positive” rating and set a $24.00 price target for the company in a research report on Monday, February 26th. JPMorgan Chase & Co. upgraded shares of Fluence Energy from a “neutral” rating to an “overweight” rating and set a $23.00 target price for the company in a report on Friday, February 23rd. Bank of America increased their target price on shares of Fluence Energy from $26.00 to $28.00 and gave the stock a “buy” rating in a report on Thursday, January 4th. Finally, Piper Sandler decreased their price target on shares of Fluence Energy from $25.00 to $20.00 and set a “neutral” rating for the company in a research note on Thursday, April 11th. One research analyst has rated the stock with a sell rating, two have issued a hold rating and fourteen have issued a buy rating to the company’s stock. According to MarketBeat.com, the company has a consensus rating of “Moderate Buy” and an average price target of $28.56.

Fluence Energy Stock Performance

The business’s fifty day moving average price is $16.15 and its two-hundred day moving average price is $19.32. The stock has a market capitalization of $2.98 billion, a P/E ratio of -31.92 and a beta of 2.57.

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

Institutional Inflows and Outflows

Several large investors have recently modified their holdings of the company. National Bank of Canada FI acquired a new position in Fluence Energy during the 3rd quarter valued at approximately $27,000. Pflug Koory LLC acquired a new stake in shares of Fluence Energy in the first quarter worth $35,000. Quarry LP acquired a new stake in shares of Fluence Energy in the fourth quarter worth $38,000. Allspring Global Investments Holdings LLC boosted its holdings 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 worth $49,000 after buying an additional 1,388 shares in the last quarter. Finally, Quest Partners LLC purchased a new stake in Fluence Energy during the fourth quarter worth $60,000. 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.