Fluence Energy (NASDAQ:FLNC) Trading Up 13.2% – Here’s Why

Fluence Energy, Inc. (NASDAQ:FLNC) shares rose 13.2% during mid-day trading on Thursday . The company traded as high as $22.03 and last traded at $22.4680. Approximately 2,101,130 shares changed hands during mid-day trading, a decline of 64% from the average daily volume of 5,878,866 shares. The stock had previously closed at $19.85.

Analyst Ratings Changes

A number of research analysts have recently commented on the company. Citigroup upped their price target on Fluence Energy from $7.50 to $20.00 and gave the stock a “neutral” rating in a report on Wednesday. Susquehanna upped their target price on shares of Fluence Energy from $17.00 to $20.00 and gave the company a “positive” rating in a research note on Wednesday, November 26th. Roth Capital raised their price target on shares of Fluence Energy from $7.00 to $17.00 and gave the stock a “neutral” rating in a research report on Thursday, November 13th. JPMorgan Chase & Co. boosted their price objective on shares of Fluence Energy from $9.00 to $10.00 and gave the stock a “neutral” rating in a report on Thursday, October 16th. Finally, UBS Group increased their target price on shares of Fluence Energy from $8.00 to $22.00 and gave the company a “neutral” rating in a research note on Thursday. Four analysts have rated the stock with a Buy rating, seventeen have given a Hold rating and five have assigned a Sell rating to the stock. Based on data from MarketBeat.com, the company presently has a consensus rating of “Reduce” and a consensus price target of $12.48.

Fluence Energy Price Performance

The stock has a market cap of $4.38 billion, a price-to-earnings ratio of -57.05 and a beta of 2.88. The company has a quick ratio of 1.17, a current ratio of 1.51 and a debt-to-equity ratio of 0.71. The company’s 50-day moving average is $17.76 and its 200-day moving average is $10.92.

Fluence Energy (NASDAQ:FLNC) last released its quarterly earnings data on Monday, November 24th. The company reported $0.13 earnings per share for the quarter, missing the consensus estimate of $0.23 by ($0.10). The company had revenue of $1.04 billion during the quarter, compared to the consensus estimate of $1.39 billion. Fluence Energy had a negative net margin of 2.14% and a negative return on equity of 9.21%. The company’s revenue for the quarter was down 15.2% on a year-over-year basis. During the same quarter in the prior year, the company posted $0.34 earnings per share. Equities research analysts expect that Fluence Energy, Inc. will post 0.08 earnings per share for the current fiscal year.

Institutional Investors Weigh In On Fluence Energy

Hedge funds have recently made changes to their positions in the company. Dragoneer Investment Group LLC acquired a new position in shares of Fluence Energy in the 3rd quarter worth approximately $65,883,000. Goldman Sachs Group Inc. boosted its stake in Fluence Energy by 189.7% in the first quarter. Goldman Sachs Group Inc. now owns 3,171,146 shares of the company’s stock worth $15,380,000 after purchasing an additional 2,076,668 shares in the last quarter. Millennium Management LLC boosted its stake in Fluence Energy by 11.3% in the third quarter. Millennium Management LLC now owns 2,232,750 shares of the company’s stock worth $24,114,000 after purchasing an additional 227,080 shares in the last quarter. Voloridge Investment Management LLC grew its holdings in shares of Fluence Energy by 82.6% during the third quarter. Voloridge Investment Management LLC now owns 1,965,083 shares of the company’s stock worth $21,223,000 after purchasing an additional 888,893 shares during the last quarter. Finally, SG Americas Securities LLC increased its stake in shares of Fluence Energy by 1,794.8% in the second quarter. SG Americas Securities LLC now owns 1,868,711 shares of the company’s stock valued at $12,539,000 after buying an additional 1,770,090 shares in the last quarter. Institutional investors and hedge funds 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.