Fluence Energy (NASDAQ:FLNC) Stock Price Up 3.7%

Fluence Energy, Inc. (NASDAQ:FLNC)’s stock price rose 3.7% during trading on Tuesday . The company traded as high as $18.89 and last traded at $18.83. Approximately 485,216 shares were traded during trading, a decline of 78% from the average daily volume of 2,230,223 shares. The stock had previously closed at $18.15.

Analyst Ratings Changes

A number of equities analysts recently weighed in on FLNC shares. Susquehanna raised shares of Fluence Energy from a “neutral” rating to a “positive” rating and set a $24.00 target price for the company in a research note on Monday, February 26th. Raymond James raised shares of Fluence Energy from a “market perform” rating to an “outperform” rating and set a $22.00 target price for the company in a research note on Wednesday, April 3rd. Evercore ISI decreased their price target on shares of Fluence Energy from $59.00 to $47.00 and set an “outperform” rating for the company in a research note on Monday, May 13th. Roth Mkm reaffirmed a “buy” rating and issued a $27.00 price target (down from $31.00) on shares of Fluence Energy in a research note on Friday, May 10th. Finally, JPMorgan Chase & Co. raised shares of Fluence Energy from a “neutral” rating to an “overweight” rating and set a $23.00 price target for the company in a research note on Friday, February 23rd. One investment analyst has rated the stock with a sell rating, two have assigned a hold rating and fifteen have assigned a buy rating to the stock. Based on data from MarketBeat.com, the company has a consensus rating of “Moderate Buy” and a consensus target price of $29.06.

Fluence Energy Price Performance

The stock has a market capitalization of $3.61 billion, a price-to-earnings ratio of -51.82 and a beta of 2.48. The business’s fifty day moving average price is $17.06 and its 200-day moving average price is $19.18.

Fluence Energy (NASDAQ:FLNC) last released its quarterly earnings results on Wednesday, May 8th. The company reported ($0.07) earnings per share for the quarter, hitting the consensus estimate of ($0.07). Fluence Energy had a negative net margin of 2.10% and a negative return on equity of 8.48%. The business had revenue of $623.14 million for the quarter, compared to analysts’ expectations of $538.42 million. During the same period in the previous year, the company earned ($0.21) earnings per share. The firm’s revenue for the quarter was down 10.7% compared to the same quarter last year. Equities research analysts predict that Fluence Energy, Inc. will post 0.14 earnings per share for the current fiscal year.

Institutional Inflows and Outflows

Several hedge funds and other institutional investors have recently added to or reduced their stakes in FLNC. Pflug Koory LLC purchased a new position in Fluence Energy during the first quarter worth about $35,000. Quarry LP purchased a new position in Fluence Energy in the fourth quarter valued at about $38,000. Baillie Gifford & Co. purchased a new position in Fluence Energy in the first quarter valued at about $38,000. Allspring Global Investments Holdings LLC boosted its stake in Fluence Energy by 185.3% in the third quarter. Allspring Global Investments Holdings LLC now owns 2,137 shares of the company’s stock valued at $49,000 after acquiring an additional 1,388 shares during the last quarter. Finally, Quest Partners LLC purchased a new position in Fluence Energy in the fourth quarter valued at about $60,000. 53.16% of the stock is currently owned by hedge funds and other institutional investors.

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.