Fluence Energy (NASDAQ:FLNC) Stock Price Up 8.1% – Here’s Why

Fluence Energy, Inc. (NASDAQ:FLNC) shares rose 8.1% during trading on Tuesday . The stock traded as high as $4.86 and last traded at $4.80. Approximately 840,058 shares changed hands during mid-day trading, a decline of 85% from the average daily volume of 5,425,350 shares. The stock had previously closed at $4.44.

Analyst Ratings Changes

A number of research analysts recently issued reports on the company. Roth Mkm cut Fluence Energy from a “buy” rating to a “neutral” rating and cut their price target for the company from $20.00 to $6.50 in a report on Wednesday, February 12th. Royal Bank of Canada lowered Fluence Energy from an “outperform” rating to a “sector perform” rating and cut their target price for the company from $25.00 to $7.00 in a research note on Wednesday, February 12th. Roth Capital cut Fluence Energy from a “strong-buy” rating to a “hold” rating in a report on Wednesday, February 12th. Citigroup decreased their target price on Fluence Energy from $24.00 to $10.00 and set a “neutral” rating for the company in a research report on Tuesday, February 11th. Finally, BMO Capital Markets lowered shares of Fluence Energy from an “outperform” rating to a “market perform” rating and reduced their price objective for the stock from $22.00 to $10.00 in a research note on Tuesday, February 11th. Two equities research analysts have rated the stock with a sell rating, eighteen have issued a hold rating and five have issued a buy rating to the company. According to data from MarketBeat, the company currently has a consensus rating of “Hold” and an average price target of $8.12.

Fluence Energy Stock Performance

The company has a current ratio of 1.57, a quick ratio of 1.14 and a debt-to-equity ratio of 0.74. The stock’s 50 day moving average price is $4.49 and its 200 day moving average price is $9.86. The company has a market capitalization of $869.62 million, a price-to-earnings ratio of -95.80 and a beta of 2.49.

Fluence Energy (NASDAQ:FLNC) last released its quarterly earnings data on Wednesday, May 7th. The company reported ($0.24) EPS for the quarter, missing the consensus estimate of ($0.21) by ($0.03). The company had revenue of $431.62 million during the quarter, compared to analyst estimates of $328.17 million. Fluence Energy had a negative net margin of 0.08% and a negative return on equity of 0.36%. The company’s quarterly revenue was down 30.7% compared to the same quarter last year. During the same period in the previous year, the company posted ($0.07) EPS. Analysts expect that Fluence Energy, Inc. will post 0.08 earnings per share for the current year.

Insider Transactions at Fluence Energy

In related news, Director Herman E. Bulls acquired 10,000 shares of Fluence Energy stock in a transaction on Wednesday, March 5th. The stock was purchased at an average cost of $5.41 per share, with a total value of $54,100.00. Following the completion of the transaction, the director now directly owns 115,861 shares in the company, valued at $626,808.01. This trade represents a 9.45% increase in their position. The purchase was disclosed in a filing with the Securities & Exchange Commission, which is accessible through the SEC website. Also, Director Cynthia A. Arnold acquired 33,000 shares of the company’s stock in a transaction dated Monday, May 12th. The stock was bought at an average cost of $5.90 per share, for a total transaction of $194,700.00. Following the completion of the transaction, the director now directly owns 86,202 shares of the company’s stock, valued at approximately $508,591.80. This trade represents a 62.03% increase in their ownership of the stock. The disclosure for this purchase can be found here. 0.65% of the stock is owned by company insiders.

Institutional Investors Weigh In On Fluence Energy

A number of institutional investors have recently made changes to their positions in FLNC. Barclays PLC boosted its position in shares of Fluence Energy by 296.8% in the third quarter. Barclays PLC now owns 181,766 shares of the company’s stock valued at $4,127,000 after acquiring an additional 135,957 shares during the period. Cidel Asset Management Inc. acquired a new position in Fluence Energy during the 4th quarter worth approximately $350,000. Mezzasalma Advisors LLC bought a new stake in Fluence Energy during the 4th quarter worth $221,000. New York State Common Retirement Fund increased its stake in shares of Fluence Energy by 14.5% in the fourth quarter. New York State Common Retirement Fund now owns 18,995 shares of the company’s stock valued at $302,000 after buying an additional 2,400 shares during the period. Finally, Union Bancaire Privee UBP SA acquired a new position in shares of Fluence Energy during the fourth quarter worth $340,000. Institutional investors own 53.16% of the company’s stock.

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.