Fluence Energy (NASDAQ:FLNC) Stock Price Up 10.5% – Here’s Why

Fluence Energy, Inc. (NASDAQ:FLNC) shares were up 10.5% on Friday . The stock traded as high as $7.56 and last traded at $7.56. Approximately 2,556,944 shares traded hands during trading, a decline of 51% from the average daily volume of 5,242,771 shares. The stock had previously closed at $6.84.

Wall Street Analyst Weigh In

Several equities research analysts have recently weighed in on FLNC shares. Susquehanna increased their price objective on shares of Fluence Energy from $6.00 to $11.00 and gave the stock a “positive” rating in a research report on Monday, July 21st. JPMorgan Chase & Co. raised their price target on shares of Fluence Energy from $5.00 to $8.00 and gave the stock a “neutral” rating in a report on Tuesday, July 22nd. BMO Capital Markets set a $5.00 price target on shares of Fluence Energy and gave the stock a “market perform” rating in a report on Wednesday, June 25th. The Goldman Sachs Group reduced their price target on shares of Fluence Energy from $9.00 to $8.00 and set a “buy” rating for the company in a report on Friday, May 9th. Finally, UBS Group raised their price target on shares of Fluence Energy from $4.50 to $6.00 and gave the stock a “neutral” rating in a report on Tuesday, May 13th. Four research analysts have rated the stock with a Buy rating, seventeen have issued a Hold rating and three have given a Sell rating to the company’s stock. Based on data from MarketBeat, the stock has an average rating of “Hold” and a consensus price target of $7.98.

Fluence Energy Price Performance

The stock has a market capitalization of $1.37 billion, a P/E ratio of -35.90 and a beta of 2.67. The business’s 50 day simple moving average is $7.80 and its two-hundred day simple moving average is $6.14. The company has a quick ratio of 1.06, a current ratio of 1.64 and a debt-to-equity ratio of 0.75.

Fluence Energy (NASDAQ:FLNC) last released its quarterly earnings data on Monday, August 11th. The company reported $0.01 earnings per share for the quarter, beating analysts’ consensus estimates of ($0.02) by $0.03. Fluence Energy had a negative net margin of 0.76% and a negative return on equity of 3.42%. The firm had revenue of $602.53 million for the quarter, compared to analyst estimates of $738.52 million. Fluence Energy’s revenue for the quarter was up 24.7% compared to the same quarter last year. Fluence Energy has set its FY 2025 guidance at EPS. As a group, sell-side analysts forecast that Fluence Energy, Inc. will post 0.08 earnings per share for the current fiscal year.

Institutional Inflows and Outflows

A number of large investors have recently made changes to their positions in FLNC. Envestnet Asset Management Inc. lifted its stake in shares of Fluence Energy by 47.4% in the fourth quarter. Envestnet Asset Management Inc. now owns 13,317 shares of the company’s stock valued at $211,000 after buying an additional 4,285 shares in the last quarter. Invesco Ltd. lifted its position in shares of Fluence Energy by 28.7% during the fourth quarter. Invesco Ltd. now owns 366,513 shares of the company’s stock valued at $5,820,000 after purchasing an additional 81,692 shares in the last quarter. Renaissance Technologies LLC bought a new position in shares of Fluence Energy during the fourth quarter valued at about $2,233,000. Raymond James Financial Inc. bought a new position in shares of Fluence Energy during the fourth quarter valued at about $1,221,000. Finally, Marshall Wace LLP lifted its position in shares of Fluence Energy by 22.9% during the fourth quarter. Marshall Wace LLP now owns 40,688 shares of the company’s stock valued at $646,000 after purchasing an additional 7,588 shares in the last quarter. 53.16% of the stock is 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.