Fluence Energy (NASDAQ:FLNC) Trading 6.9% Higher – Here’s What Happened

Fluence Energy, Inc. (NASDAQ:FLNC)’s stock price rose 6.9% during mid-day trading on Tuesday . The company traded as high as $28.83 and last traded at $28.9810. Approximately 903,221 shares traded hands during mid-day trading, a decline of 81% from the average daily volume of 4,830,271 shares. The stock had previously closed at $27.12.

Wall Street Analysts Forecast Growth

A number of brokerages have issued reports on FLNC. Mizuho reissued an “underperform” rating and issued a $15.00 target price (up previously from $9.00) on shares of Fluence Energy in a report on Monday, December 8th. Morgan Stanley set a $16.00 price objective on shares of Fluence Energy in a report on Monday. Royal Bank Of Canada reiterated a “sector perform” rating and set a $12.00 price target on shares of Fluence Energy in a research report on Tuesday, January 20th. Weiss Ratings reaffirmed a “sell (d)” rating on shares of Fluence Energy in a research note on Monday, December 29th. Finally, Johnson Rice reaffirmed a “hold” rating and set a $18.00 target price on shares of Fluence Energy in a report on Monday, December 8th. Four research analysts have rated the stock with a Buy rating, fourteen have given a Hold rating and five have given a Sell rating to the company. According to MarketBeat.com, Fluence Energy presently has an average rating of “Reduce” and a consensus target price of $14.71.

Fluence Energy Trading Up 7.9%

The company has a quick ratio of 1.17, a current ratio of 1.51 and a debt-to-equity ratio of 0.71. The company has a 50-day moving average price of $21.49 and a 200-day moving average price of $15.24. The company has a market capitalization of $5.35 billion, a price-to-earnings ratio of -69.63 and a beta of 2.88.

Fluence Energy (NASDAQ:FLNC) last announced 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 analyst estimates of $1.39 billion. Fluence Energy had a negative return on equity of 9.21% and a negative net margin of 2.14%.The company’s revenue was down 15.2% on a year-over-year basis. During the same quarter in the previous year, the business posted $0.34 EPS. Research analysts predict that Fluence Energy, Inc. will post 0.08 EPS for the current fiscal year.

Hedge Funds Weigh In On Fluence Energy

A number of hedge funds and other institutional investors have recently made changes to their positions in FLNC. Canal Insurance CO grew its holdings in shares of Fluence Energy by 16.0% in the 2nd quarter. Canal Insurance CO now owns 580,000 shares of the company’s stock worth $3,892,000 after purchasing an additional 80,000 shares during the last quarter. DekaBank Deutsche Girozentrale raised its stake in shares of Fluence Energy by 32.2% during the second quarter. DekaBank Deutsche Girozentrale now owns 509,363 shares of the company’s stock worth $3,157,000 after buying an additional 124,203 shares during the last quarter. IQ EQ FUND MANAGEMENT IRELAND Ltd acquired a new position in shares of Fluence Energy in the 2nd quarter valued at $160,000. Inspire Investing LLC acquired a new position in shares of Fluence Energy during the 2nd quarter worth about $382,000. Finally, Alpha Wave Global LP bought a new stake in Fluence Energy in the second quarter valued at approximately $4,395,000. 53.16% of the stock is owned by institutional investors.

Fluence Energy Company Profile

Fluence Energy is a leading global provider of energy storage products and services, specializing in the deployment of advanced battery systems to support grid stability and renewable integration. The company develops, engineers and delivers turnkey energy storage solutions designed to optimize the reliability, efficiency and economic performance of power networks. By combining hardware, software and lifecycle services, Fluence addresses the growing need for flexible energy assets in an evolving electricity landscape.

The company’s core offerings include modular energy storage platforms that pair lithium-ion battery technology with control and optimization software.