Fluence Energy (NASDAQ:FLNC) Reaches New 1-Year High – Here’s What Happened

Fluence Energy, Inc. (NASDAQ:FLNC)’s share price reached a new 52-week high on Thursday . The company traded as high as $24.90 and last traded at $25.0260, with a volume of 2602946 shares trading hands. The stock had previously closed at $23.81.

Wall Street Analyst Weigh In

Several research analysts have issued reports on the company. Canaccord Genuity Group increased their price objective on Fluence Energy from $10.00 to $25.00 and gave the stock a “buy” rating in a research report on Wednesday, November 26th. UBS Group boosted their price objective on shares of Fluence Energy from $8.00 to $22.00 and gave the stock a “neutral” rating in a report on Thursday, December 4th. Susquehanna upped their target price on shares of Fluence Energy from $17.00 to $20.00 and gave the stock a “positive” rating in a research report on Wednesday, November 26th. Wall Street Zen upgraded Fluence Energy from a “sell” rating to a “hold” rating in a report on Sunday, November 2nd. Finally, Weiss Ratings reiterated a “sell (d)” rating on shares of Fluence Energy in a research report on Monday. Four equities research analysts have rated the stock with a Buy rating, seventeen have given a Hold rating and six have issued a Sell rating to the company. According to MarketBeat, the stock currently has an average rating of “Reduce” and an average price target of $13.28.

Fluence Energy Trading Down 14.0%

The company has a debt-to-equity ratio of 0.71, a quick ratio of 1.17 and a current ratio of 1.51. The business has a fifty day simple moving average of $18.89 and a 200 day simple moving average of $11.57. The stock has a market cap of $4.06 billion, a price-to-earnings ratio of -52.83 and a beta of 2.88.

Fluence Energy (NASDAQ:FLNC) last issued its quarterly earnings data on Monday, November 24th. The company reported $0.13 earnings per share (EPS) for the quarter, missing the consensus estimate of $0.23 by ($0.10). The company had revenue of $1.04 billion during the quarter, compared to analysts’ expectations of $1.39 billion. Fluence Energy had a negative net margin of 2.14% and a negative return on equity of 9.21%. The firm’s revenue was down 15.2% compared to the same quarter last year. During the same quarter in the prior year, the company earned $0.34 earnings per share. As a group, equities analysts anticipate that Fluence Energy, Inc. will post 0.08 EPS for the current year.

Institutional Investors Weigh In On Fluence Energy

A number of hedge funds and other institutional investors have recently modified their holdings of FLNC. Tudor Investment Corp ET AL acquired a new position in shares of Fluence Energy in the 3rd quarter valued at $4,062,000. Advisory Services Network LLC purchased a new position in shares of Fluence Energy in the 3rd quarter worth $48,000. Jacobs Levy Equity Management Inc. acquired a new position in Fluence Energy in the third quarter valued at $14,207,000. Dark Forest Capital Management LP purchased a new stake in Fluence Energy during the third quarter valued at about $723,000. Finally, PharVision Advisers LLC acquired a new stake in Fluence Energy during the third quarter worth about $377,000. 53.16% of the stock is currently owned by hedge funds and other 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.