Fluence Energy (NASDAQ:FLNC) Trading 4% Higher

Fluence Energy, Inc. (NASDAQ:FLNC) shares shot up 4% during trading on Thursday . The company traded as high as $23.51 and last traded at $23.51. 152,259 shares were traded during trading, a decline of 94% from the average session volume of 2,384,195 shares. The stock had previously closed at $22.61.

Wall Street Analyst Weigh In

FLNC has been the subject of several analyst reports. Morgan Stanley cut their target price on shares of Fluence Energy from $32.00 to $30.00 and set an “equal weight” rating for the company in a research note on Friday, May 10th. Guggenheim lowered shares of Fluence Energy from a “buy” rating to a “neutral” rating in a research report on Thursday, June 6th. JPMorgan Chase & Co. raised shares of Fluence Energy from a “neutral” rating to an “overweight” rating and set a $23.00 target price for the company in a research note on Friday, February 23rd. Evercore ISI lowered their target price 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. Finally, Roth Mkm reaffirmed a “buy” rating and issued a $27.00 target price (down from $31.00) on shares of Fluence Energy in a research note on Friday, May 10th. One research 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. Based on data from MarketBeat.com, Fluence Energy presently has a consensus rating of “Moderate Buy” and a consensus target price of $29.00.

Fluence Energy Trading Down 1.0 %

The company’s 50 day moving average price is $19.35 and its 200-day moving average price is $19.69. The company has a market capitalization of $4.01 billion, a PE ratio of -57.97 and a beta of 2.63.

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

Institutional Trading of Fluence Energy

Institutional investors have recently added to or reduced their stakes in the business. New York State Common Retirement Fund lifted its holdings in Fluence Energy by 15.6% in the 3rd quarter. New York State Common Retirement Fund now owns 92,106 shares of the company’s stock worth $2,118,000 after buying an additional 12,431 shares in the last quarter. Swiss National Bank lifted its holdings in Fluence Energy by 1.6% in the 3rd quarter. Swiss National Bank now owns 90,000 shares of the company’s stock worth $2,069,000 after buying an additional 1,400 shares in the last quarter. Charles Schwab Investment Management Inc. lifted its holdings in Fluence Energy by 7.6% in the 3rd quarter. Charles Schwab Investment Management Inc. now owns 304,649 shares of the company’s stock worth $7,004,000 after buying an additional 21,416 shares in the last quarter. HighTower Advisors LLC lifted its holdings in Fluence Energy by 22.0% in the 3rd quarter. HighTower Advisors LLC now owns 15,819 shares of the company’s stock worth $360,000 after buying an additional 2,849 shares in the last quarter. Finally, Deutsche Bank AG lifted its holdings in Fluence Energy by 58.0% in the 3rd quarter. Deutsche Bank AG now owns 26,543 shares of the company’s stock worth $610,000 after buying an additional 9,740 shares in the last quarter. 53.16% of the stock is 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.