Short Interest in Fluence Energy, Inc. (NASDAQ:FLNC) Expands By 6.1%

Fluence Energy, Inc. (NASDAQ:FLNC - Get Free Report) was the target of a large increase in short interest in August. As of August 15th, there was short interest totalling 11,260,000 shares, an increase of 6.1% from the July 31st total of 10,610,000 shares. Based on an average daily trading volume, of 2,600,000 shares, the days-to-cover ratio is currently 4.3 days.

Insider Buying and Selling at Fluence Energy

In related news, Director Herman E. Bulls bought 10,000 shares of the company's stock in a transaction that occurred on Tuesday, August 13th. The stock was purchased at an average price of $16.81 per share, for a total transaction of $168,100.00. Following the completion of the transaction, the director now owns 65,861 shares in the company, valued at $1,107,123.41. The acquisition was disclosed in a document filed with the Securities & Exchange Commission, which is available at this hyperlink. Insiders own 0.41% of the company's stock.

Institutional Investors Weigh In On Fluence Energy

A number of institutional investors and hedge funds have recently added to or reduced their stakes in FLNC. ProShare Advisors LLC lifted its holdings in shares of Fluence Energy by 8.5% in the 1st quarter. ProShare Advisors LLC now owns 10,539 shares of the company's stock worth $183,000 after buying an additional 830 shares during the period. Hsbc Holdings PLC grew its holdings in Fluence Energy by 3.8% during the 2nd quarter. Hsbc Holdings PLC now owns 24,250 shares of the company's stock worth $420,000 after acquiring an additional 897 shares in the last quarter. Renaissance Capital LLC raised its holdings in shares of Fluence Energy by 3.0% in the 1st quarter. Renaissance Capital LLC now owns 38,243 shares of the company's stock valued at $663,000 after purchasing an additional 1,111 shares in the last quarter. National Bank of Canada FI lifted its position in shares of Fluence Energy by 116.3% in the 4th quarter. National Bank of Canada FI now owns 2,595 shares of the company's stock worth $62,000 after purchasing an additional 1,395 shares during the period. Finally, Quarry LP bought a new position in shares of Fluence Energy during the fourth quarter valued at approximately $38,000. Institutional investors own 53.16% of the company's stock.

Fluence Energy Trading Up 0.4 %

Shares of FLNC traded up $0.07 during trading hours on Monday, reaching $18.37. 1,179,800 shares of the company traded hands, compared to its average volume of 2,367,898. The stock's fifty day moving average price is $16.97 and its 200 day moving average price is $17.69. The firm has a market cap of $3.30 billion, a price-to-earnings ratio of -47.10, a PEG ratio of 3.15 and a beta of 2.50. Fluence Energy has a 12-month low of $12.74 and a 12-month high of $28.14.

Analyst Ratings Changes

Several research firms have weighed in on FLNC. Robert W. Baird cut their price target on Fluence Energy from $34.00 to $27.00 and set an "outperform" rating for the company in a report on Friday, August 9th. Bank of America reduced their price target on shares of Fluence Energy from $29.00 to $28.00 and set a "buy" rating on the stock in a research report on Wednesday, July 17th. Guggenheim upgraded shares of Fluence Energy from a "neutral" rating to a "buy" rating and set a $26.00 price objective for the company in a research report on Friday, August 9th. Roth Mkm restated a "buy" rating and issued a $27.00 target price (down from $31.00) on shares of Fluence Energy in a report on Friday, May 10th. Finally, Barclays dropped their price target on Fluence Energy from $30.00 to $28.00 and set an "overweight" rating for the company in a research report on Friday, July 26th. One investment analyst has rated the stock with a sell rating, three have given a hold rating and fourteen have given a buy rating to the company's stock. According to MarketBeat, the stock currently has an average rating of "Moderate Buy" and an average target price of $26.67.

About Fluence Energy

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.

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