Fluence Energy (NASDAQ:FLNC) Shares Up 3.2%

Fluence Energy, Inc. (NASDAQ:FLNC) shares shot up 3.2% during trading on Wednesday . The company traded as high as $16.80 and last traded at $16.57. 485,568 shares were traded during mid-day trading, a decline of 79% from the average session volume of 2,276,263 shares. The stock had previously closed at $16.05.

Analyst Ratings Changes

Several research analysts have weighed in on FLNC shares. Susquehanna upgraded Fluence Energy from a “neutral” rating to a “positive” rating and set a $24.00 target price on the stock in a report on Monday, February 26th. BMO Capital Markets upgraded Fluence Energy from a “market perform” rating to an “outperform” rating and set a $27.00 price objective for the company in a research report on Tuesday, January 16th. The Goldman Sachs Group dropped their target price on shares of Fluence Energy from $32.00 to $26.00 and set a “buy” rating on the stock in a report on Friday, March 22nd. Bank of America increased their price objective on shares of Fluence Energy from $26.00 to $28.00 and gave the stock a “buy” rating in a research report on Thursday, January 4th. Finally, Piper Sandler cut their price objective on shares of Fluence Energy from $25.00 to $20.00 and set a “neutral” rating on the stock in a research report on Thursday, April 11th. One research analyst has rated the stock with a sell rating, two have issued a hold rating and fourteen have assigned a buy rating to the company. According to data from MarketBeat.com, Fluence Energy presently has an average rating of “Moderate Buy” and a consensus price target of $28.56.

Fluence Energy Stock Performance

The firm has a fifty day simple moving average of $16.70 and a 200-day simple moving average of $19.52. The firm has a market cap of $2.90 billion, a price-to-earnings ratio of -30.66 and a beta of 2.57.

Fluence Energy (NASDAQ:FLNC) last posted its quarterly earnings data on Wednesday, February 7th. The company reported ($0.14) earnings per share for the quarter, missing the consensus estimate of ($0.13) by ($0.01). Fluence Energy had a negative return on equity of 11.18% and a negative net margin of 2.72%. The firm had revenue of $363.96 million for the quarter, compared to the consensus estimate of $403.93 million. During the same quarter in the previous year, the business earned ($0.21) EPS. The firm’s quarterly revenue was up 17.2% on a year-over-year basis. Analysts expect that Fluence Energy, Inc. will post 0.14 earnings per share for the current fiscal year.

Institutional Trading of Fluence Energy

A number of institutional investors have recently modified their holdings of FLNC. National Bank of Canada FI bought a new position in shares of Fluence Energy in the third quarter worth $27,000. Quarry LP bought a new position in Fluence Energy in the 4th quarter valued at about $38,000. Pflug Koory LLC acquired a new position in shares of Fluence Energy in the 1st quarter valued at approximately $35,000. Allspring Global Investments Holdings LLC lifted its holdings in shares of Fluence Energy by 185.3% during the 3rd quarter. Allspring Global Investments Holdings LLC now owns 2,137 shares of the company’s stock worth $49,000 after acquiring an additional 1,388 shares during the period. Finally, Comerica Bank boosted its position in shares of Fluence Energy by 724.9% during the 4th quarter. Comerica Bank now owns 2,351 shares of the company’s stock worth $56,000 after acquiring an additional 2,066 shares in the last quarter. 53.16% of the stock is currently owned by institutional investors.

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.