Fluence Energy (NASDAQ:FLNC) Stock Price Up 7.4% on Analyst Upgrade

Fluence Energy, Inc. (NASDAQ:FLNC - Get Free Report)'s stock price rose 7.4% during mid-day trading on Monday after JPMorgan Chase & Co. raised their price target on the stock from $5.00 to $8.00. JPMorgan Chase & Co. currently has a neutral rating on the stock. Fluence Energy traded as high as $9.64 and last traded at $9.63. Approximately 3,766,368 shares traded hands during mid-day trading, a decline of 5% from the average daily volume of 3,959,751 shares. The stock had previously closed at $8.96.

Other research analysts also recently issued reports about the company. Jefferies Financial Group restated an "underperform" rating and set a $6.00 target price on shares of Fluence Energy in a research note on Friday, July 11th. Hsbc Global Res cut shares of Fluence Energy from a "strong-buy" rating to a "hold" rating in a research note on Monday, April 28th. Piper Sandler decreased their target price on shares of Fluence Energy from $10.00 to $4.00 and set a "neutral" rating for the company in a research note on Monday, April 21st. Robert W. Baird dropped their target price on Fluence Energy from $9.00 to $5.00 and set a "neutral" rating on the stock in a research report on Tuesday, April 15th. Finally, Morgan Stanley lifted their price target on Fluence Energy from $4.00 to $5.00 and gave the stock an "equal weight" rating in a research note on Monday, May 19th. Two analysts have rated the stock with a sell rating, nineteen have given a hold rating and four have given a buy rating to the company's stock. According to data from MarketBeat.com, the stock has a consensus rating of "Hold" and an average target price of $7.98.

Insider Transactions at Fluence Energy

In other Fluence Energy news, Director Cynthia A. Arnold bought 33,000 shares of the firm's stock in a transaction dated Monday, May 12th. The stock was acquired at an average price of $5.90 per share, for a total transaction of $194,700.00. Following the completion of the purchase, the director owned 86,202 shares of the company's stock, valued at approximately $508,591.80. This represents a 62.03% increase in their ownership of the stock. The acquisition was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this link. 0.65% of the stock is owned by corporate insiders.

Institutional Investors Weigh In On Fluence Energy

Hedge funds have recently made changes to their positions in the business. Raymond James Financial Inc. acquired a new stake in shares of Fluence Energy in the 4th quarter valued at approximately $1,221,000. Swiss National Bank lifted its stake in Fluence Energy by 1.4% in the 4th quarter. Swiss National Bank now owns 126,800 shares of the company's stock valued at $2,014,000 after buying an additional 1,800 shares in the last quarter. Commonwealth Equity Services LLC grew its holdings in Fluence Energy by 52.3% during the 4th quarter. Commonwealth Equity Services LLC now owns 50,763 shares of the company's stock valued at $806,000 after buying an additional 17,437 shares during the last quarter. Intech Investment Management LLC increased its position in Fluence Energy by 70.6% during the fourth quarter. Intech Investment Management LLC now owns 23,210 shares of the company's stock worth $369,000 after buying an additional 9,602 shares in the last quarter. Finally, KLP Kapitalforvaltning AS acquired a new position in shares of Fluence Energy in the fourth quarter worth $213,000. Institutional investors and hedge funds own 53.16% of the company's stock.

Fluence Energy Price Performance

The company has a 50-day moving average price of $6.34 and a 200-day moving average price of $7.17. The firm has a market capitalization of $1.70 billion, a PE ratio of -42.55 and a beta of 2.65. The company has a debt-to-equity ratio of 0.78, a current ratio of 1.51 and a quick ratio of 0.99.

Fluence Energy (NASDAQ:FLNC - Get Free Report) last announced its earnings results on Wednesday, May 7th. The company reported ($0.24) earnings per share (EPS) for the quarter, missing analysts' consensus estimates of ($0.21) by ($0.03). Fluence Energy had a negative return on equity of 4.40% and a negative net margin of 1.10%. The firm had revenue of $431.62 million for the quarter, compared to analyst estimates of $328.17 million. During the same quarter last year, the business posted ($0.07) EPS. The firm's revenue was down 30.7% compared to the same quarter last year. Sell-side analysts forecast that Fluence Energy, Inc. will post 0.08 EPS for the current year.

Fluence Energy Company Profile

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.