Fluence Energy (NASDAQ:FLNC) Shares Gap Up After Analyst Upgrade

Key Points

• Fluence Energy shares jumped after Citigroup upgraded the stock from neutral to buy and raised its price target to $24, sparking a gap-up open.
• Several other analysts have recently adjusted views on FLNC, leaving the stock with a consensus rating of Hold and an average price target of $19.53.
• The company recently posted a smaller-than-expected loss of $0.16 per share, though revenue of $464.89 million missed estimates; revenue still rose 7.7% year over year.

Fluence Energy, Inc. (NASDAQ:FLNC - Get Free Report)'s share price gapped up before the market opened on Wednesday after Citigroup upgraded the stock from a neutral rating to a buy rating. The stock had previously closed at $15.28, but opened at $15.87. Citigroup now has a $24.00 price target on the stock. Fluence Energy shares last traded at $15.2490, with a volume of 2,460,341 shares trading hands.

A number of other research analysts also recently commented on the stock. Royal Bank Of Canada raised their target price on shares of Fluence Energy from $12.00 to $16.00 and gave the company a "sector perform" rating in a research report on Monday, May 11th. UBS Group increased their price objective on shares of Fluence Energy from $8.00 to $9.00 and gave the company a "sell" rating in a research note on Monday, May 11th. Roth Capital raised shares of Fluence Energy from a "neutral" rating to a "buy" rating and set a $26.00 price objective on the stock in a report on Friday, May 8th. Zacks Research raised shares of Fluence Energy from a "hold" rating to a "strong-buy" rating in a research note on Tuesday, July 14th. Finally, Wall Street Zen lowered Fluence Energy from a "hold" rating to a "sell" rating in a report on Saturday, May 9th. One investment analyst has rated the stock with a Strong Buy rating, seven have issued a Buy rating, eleven have issued a Hold rating and four have assigned a Sell rating to the company's stock. Based on data from MarketBeat, the company presently has an average rating of "Hold" and a consensus price target of $19.53.

Insider Buying and Selling at Fluence Energy

In related news, SVP John Zahurancik sold 15,974 shares of the business's stock in a transaction that occurred on Tuesday, June 23rd. The shares were sold at an average price of $22.03, for a total transaction of $351,907.22. Following the completion of the transaction, the senior vice president owned 71,171 shares in the company, valued at $1,567,897.13. The trade was a 18.33% decrease in their position. The transaction was disclosed in a legal filing with the SEC, which is available through this link. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Also, major shareholder Qatar Investment Authority sold 2,867,172 shares of the stock in a transaction that occurred on Friday, May 15th. The shares were sold at an average price of $21.00, for a total transaction of $60,210,612.00. Following the sale, the insider directly owned 11,801,103 shares of the company's stock, valued at $247,823,163. The trade was a 19.55% decrease in their position. Additional details regarding this sale are available in the official SEC disclosure. Over the last ninety days, insiders sold 2,904,146 shares of company stock valued at $61,090,399. 0.69% of the stock is currently owned by insiders.

Institutional Trading of Fluence Energy

A number of institutional investors have recently made changes to their positions in FLNC. Legal & General Group Plc grew its stake in shares of Fluence Energy by 882.1% during the fourth quarter. Legal & General Group Plc now owns 738,898 shares of the company's stock worth $14,615,000 after acquiring an additional 663,660 shares during the last quarter. Y Intercept Hong Kong Ltd raised its position in shares of Fluence Energy by 194.3% in the 1st quarter. Y Intercept Hong Kong Ltd now owns 177,037 shares of the company's stock valued at $2,436,000 after purchasing an additional 116,882 shares during the last quarter. Tudor Investment Corp ET AL purchased a new position in shares of Fluence Energy in the 3rd quarter valued at approximately $4,062,000. Mirae Asset Global Investments Co. Ltd. boosted its stake in Fluence Energy by 493.8% in the 4th quarter. Mirae Asset Global Investments Co. Ltd. now owns 445,350 shares of the company's stock worth $8,809,000 after purchasing an additional 370,350 shares in the last quarter. Finally, UBS Group AG boosted its stake in Fluence Energy by 65.2% in the 4th quarter. UBS Group AG now owns 2,625,878 shares of the company's stock worth $51,940,000 after purchasing an additional 1,036,423 shares in the last quarter. Institutional investors and hedge funds own 53.16% of the company's stock.

Fluence Energy Stock Performance

The company has a current ratio of 1.43, a quick ratio of 0.91 and a debt-to-equity ratio of 0.85. The company has a market cap of $2.80 billion, a PE ratio of -42.27 and a beta of 2.75. The firm's 50-day simple moving average is $20.34 and its two-hundred day simple moving average is $19.13.

Fluence Energy (NASDAQ:FLNC - Get Free Report) last posted its quarterly earnings results on Wednesday, May 6th. The company reported ($0.16) earnings per share (EPS) for the quarter, topping analysts' consensus estimates of ($0.18) by $0.02. The business had revenue of $464.89 million during the quarter, compared to analysts' expectations of $614.93 million. Fluence Energy had a negative net margin of 1.62% and a negative return on equity of 8.29%. The business's quarterly revenue was up 7.7% on a year-over-year basis. During the same quarter last year, the company posted ($0.24) earnings per share. As a group, research analysts anticipate that Fluence Energy, Inc. will post -0.18 earnings per share for the current fiscal year.

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.

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