Fluence Energy, Inc. (NASDAQ:FLNC - Get Free Report) was the target of a large growth in short interest during the month of December. As of December 31st, there was short interest totalling 15,640,000 shares, a growth of 8.9% from the December 15th total of 14,360,000 shares. Based on an average trading volume of 2,600,000 shares, the days-to-cover ratio is currently 6.0 days.
Fluence Energy Trading Down 7.3 %
Shares of Fluence Energy stock traded down $1.14 during trading on Friday, reaching $14.44. The company's stock had a trading volume of 7,463,628 shares, compared to its average volume of 2,201,036. Fluence Energy has a one year low of $12.74 and a one year high of $26.12. The stock has a 50-day moving average price of $17.76 and a two-hundred day moving average price of $18.61. The stock has a market capitalization of $2.62 billion, a P/E ratio of 111.08, a price-to-earnings-growth ratio of 0.53 and a beta of 2.42.
Fluence Energy (NASDAQ:FLNC - Get Free Report) last released its earnings results on Monday, November 25th. The company reported $0.34 EPS for the quarter, beating the consensus estimate of $0.23 by $0.11. Fluence Energy had a return on equity of 4.10% and a net margin of 0.89%. The company had revenue of $1.23 billion during the quarter, compared to analysts' expectations of $1.28 billion. During the same period last year, the firm earned $0.02 EPS. The business's revenue for the quarter was up 82.5% on a year-over-year basis. As a group, sell-side analysts anticipate that Fluence Energy will post 0.55 EPS for the current fiscal year.
Analyst Ratings Changes
Several research analysts have weighed in on FLNC shares. Baird R W lowered shares of Fluence Energy from a "strong-buy" rating to a "hold" rating in a research note on Wednesday, December 18th. Bank of America cut their price target on Fluence Energy from $25.00 to $24.00 and set a "buy" rating for the company in a research note on Thursday, November 7th. Truist Financial boosted their price target on Fluence Energy from $25.00 to $28.00 and gave the company a "buy" rating in a research note on Wednesday, October 16th. Robert W. Baird reiterated a "neutral" rating and issued a $20.00 target price (down from $24.00) on shares of Fluence Energy in a research note on Wednesday, December 18th. Finally, Citigroup downgraded shares of Fluence Energy from a "buy" rating to a "neutral" rating and cut their price target for the company from $32.00 to $24.00 in a report on Tuesday, October 1st. Seven research analysts have rated the stock with a hold rating and fourteen have issued a buy rating to the company's stock. Based on data from MarketBeat, Fluence Energy has an average rating of "Moderate Buy" and an average target price of $26.65.
Get Our Latest Stock Report on FLNC
Insider Buying and Selling
In other Fluence Energy news, Director Herman E. Bulls purchased 10,000 shares of the company's stock in a transaction that occurred on Monday, December 23rd. The shares were purchased at an average cost of $15.57 per share, with a total value of $155,700.00. Following the completion of the transaction, the director now owns 75,861 shares of the company's stock, valued at approximately $1,181,155.77. This represents a 15.18 % increase in their ownership of the stock. The acquisition was disclosed in a legal filing with the SEC, which can be accessed through this link. Insiders own 0.41% of the company's stock.
Institutional Trading of Fluence Energy
A number of institutional investors and hedge funds have recently modified their holdings of the stock. SG Americas Securities LLC boosted its position in shares of Fluence Energy by 79.2% during the fourth quarter. SG Americas Securities LLC now owns 48,883 shares of the company's stock worth $776,000 after purchasing an additional 21,597 shares in the last quarter. Mandatum Life Insurance Co Ltd acquired a new stake in shares of Fluence Energy during the fourth quarter worth about $2,617,000. Householder Group Estate & Retirement Specialist LLC bought a new position in shares of Fluence Energy during the 4th quarter valued at about $79,000. Sanders Morris Harris LLC acquired a new position in shares of Fluence Energy in the 4th quarter valued at approximately $812,000. Finally, JPMorgan Chase & Co. lifted its stake in Fluence Energy by 73.7% in the third quarter. JPMorgan Chase & Co. now owns 536,184 shares of the company's stock valued at $12,177,000 after buying an additional 227,549 shares in the last quarter. 53.16% of the stock is owned by institutional investors.
About Fluence Energy
(
Get Free Report)
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.
Further Reading
Before you consider Fluence Energy, you'll want to hear this.
MarketBeat keeps track of Wall Street's top-rated and best performing research analysts and the stocks they recommend to their clients on a daily basis. MarketBeat has identified the five stocks that top analysts are quietly whispering to their clients to buy now before the broader market catches on... and Fluence Energy wasn't on the list.
While Fluence Energy currently has a "Moderate Buy" rating among analysts, top-rated analysts believe these five stocks are better buys.
View The Five Stocks Here
MarketBeat just released its list of 10 cheap stocks that have been overlooked by the market and may be seriously undervalued. Click the link below to see which companies made the list.
Get This Free Report
Like this article? Share it with a colleague.
Link copied to clipboard.
