Fluence Energy (NASDAQ:FLNC) Shares Up 8.5% – Here’s What Happened

Shares of Fluence Energy, Inc. (NASDAQ:FLNC) rose 8.5% during mid-day trading on Friday . The company traded as high as $21.44 and last traded at $21.4560. Approximately 527,338 shares traded hands during trading, a decline of 89% from the average daily volume of 4,720,299 shares. The stock had previously closed at $19.78.

Wall Street Analysts Forecast Growth

FLNC has been the topic of a number of research analyst reports. Citigroup raised their target price on shares of Fluence Energy from $7.50 to $20.00 and gave the company a “neutral” rating in a research report on Wednesday, December 3rd. Weiss Ratings reiterated a “sell (d)” rating on shares of Fluence Energy in a research note on Monday. Johnson Rice restated a “hold” rating and set a $18.00 price objective on shares of Fluence Energy in a research report on Monday, December 8th. Morgan Stanley upped their target price on Fluence Energy from $12.00 to $14.00 and gave the stock an “equal weight” rating in a report on Wednesday, November 26th. Finally, BNP Paribas Exane reissued an “underperform” rating and set a $9.00 price target on shares of Fluence Energy in a research note on Tuesday, October 21st. Four equities research analysts have rated the stock with a Buy rating, sixteen have assigned a Hold rating and six have issued a Sell rating to the stock. According to data from MarketBeat, the company currently has an average rating of “Reduce” and an average price target of $13.54.

Fluence Energy Price Performance

The company has a fifty day simple moving average of $19.85 and a 200 day simple moving average of $13.05. The stock has a market capitalization of $4.06 billion, a price-to-earnings ratio of -52.92 and a beta of 2.88. The company has a debt-to-equity ratio of 0.71, a quick ratio of 1.17 and a current ratio of 1.51.

Fluence Energy (NASDAQ:FLNC) last issued its quarterly earnings results 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 analyst estimates 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 quarterly revenue was down 15.2% on a year-over-year basis. During the same period in the previous year, the company posted $0.34 EPS. Equities research analysts forecast that Fluence Energy, Inc. will post 0.08 EPS for the current fiscal year.

Institutional Investors Weigh In On Fluence Energy

A number of institutional investors have recently modified their holdings of the company. Advisory Services Network LLC acquired a new stake in shares of Fluence Energy during the third quarter worth $48,000. Parallel Advisors LLC bought a new stake in Fluence Energy during the second quarter valued at $30,000. Quantbot Technologies LP bought a new stake in Fluence Energy during the third quarter valued at $51,000. Quarry LP grew its holdings in Fluence Energy by 4,371.4% during the 3rd quarter. Quarry LP now owns 5,947 shares of the company’s stock worth $64,000 after acquiring an additional 5,814 shares during the period. Finally, Ameritas Investment Partners Inc. raised its position in shares of Fluence Energy by 25.7% in the 2nd quarter. Ameritas Investment Partners Inc. now owns 7,753 shares of the company’s stock worth $52,000 after acquiring an additional 1,586 shares in the last quarter. 53.16% of the stock is owned by institutional investors.

About Fluence Energy

Fluence Energy is a leading global provider of energy storage products and services, specializing in the deployment of advanced battery systems to support grid stability and renewable integration. The company develops, engineers and delivers turnkey energy storage solutions designed to optimize the reliability, efficiency and economic performance of power networks. By combining hardware, software and lifecycle services, Fluence addresses the growing need for flexible energy assets in an evolving electricity landscape.

The company’s core offerings include modular energy storage platforms that pair lithium-ion battery technology with control and optimization software.