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

Fluence Energy, Inc. (NASDAQ:FLNC - Get Free Report) shares traded up 7.4% during mid-day trading on Monday after Susquehanna raised their price target on the stock from $6.00 to $11.00. Susquehanna currently has a positive rating on the stock. Fluence Energy traded as high as $9.64 and last traded at $9.63. 3,766,368 shares were traded during mid-day trading, a decline of 5% from the average session volume of 3,959,751 shares. The stock had previously closed at $8.96.

Several other equities research analysts have also commented on FLNC. JPMorgan Chase & Co. lowered shares of Fluence Energy from an "overweight" rating to a "neutral" rating and cut their price target for the stock from $14.00 to $7.00 in a report on Friday, April 11th. HSBC downgraded Fluence Energy from a "buy" rating to a "hold" rating and set a $4.00 target price on the stock. in a research report on Monday, April 28th. BMO Capital Markets set a $5.00 price target on shares of Fluence Energy and gave the stock a "market perform" rating in a research report on Wednesday, June 25th. UBS Group boosted their target price on shares of Fluence Energy from $4.50 to $6.00 and gave the company a "neutral" rating in a report on Tuesday, May 13th. Finally, Barclays increased their target price on shares of Fluence Energy from $5.00 to $9.00 and gave the stock an "equal weight" rating in a research note on Thursday. Two investment analysts have rated the stock with a sell rating, eighteen have given a hold rating and four have given a buy rating to the company. According to data from MarketBeat, Fluence Energy has an average rating of "Hold" and a consensus price target of $7.93.

Insiders Place Their Bets

In related news, Director Cynthia A. Arnold acquired 33,000 shares of the stock in a transaction that occurred on Monday, May 12th. The shares were purchased at an average cost of $5.90 per share, with a total value of $194,700.00. Following the completion of the transaction, the director owned 86,202 shares of the company's stock, valued at approximately $508,591.80. This trade represents a 62.03% increase in their position. The purchase was disclosed in a filing with the SEC, which can be accessed through this link. Insiders own 0.65% of the company's stock.

Institutional Trading of Fluence Energy

Several hedge funds have recently added to or reduced their stakes in the business. Duff & Phelps Investment Management Co. raised its position in shares of Fluence Energy by 5.6% in the fourth quarter. Duff & Phelps Investment Management Co. now owns 27,192 shares of the company's stock valued at $432,000 after purchasing an additional 1,432 shares during the period. Ameriprise Financial Inc. grew its position in Fluence Energy by 0.4% in the fourth quarter. Ameriprise Financial Inc. now owns 440,002 shares of the company's stock valued at $6,988,000 after acquiring an additional 1,734 shares during the last quarter. Swiss National Bank grew its holdings in shares of Fluence Energy by 1.4% during the fourth quarter. Swiss National Bank now owns 126,800 shares of the company's stock worth $2,014,000 after purchasing an additional 1,800 shares during the last quarter. Altshuler Shaham Ltd acquired a new position in shares of Fluence Energy in the fourth quarter worth approximately $34,000. Finally, Alps Advisors Inc. boosted its position in shares of Fluence Energy by 2.5% during the 1st quarter. Alps Advisors Inc. now owns 99,891 shares of the company's stock valued at $484,000 after purchasing an additional 2,444 shares in the last quarter. Institutional investors and hedge funds own 53.16% of the company's stock.

Fluence Energy Price Performance

The firm has a market capitalization of $1.74 billion, a P/E ratio of -43.66 and a beta of 2.65. The company has a current ratio of 1.51, a quick ratio of 0.99 and a debt-to-equity ratio of 0.78. The business has a 50-day moving average of $6.09 and a 200 day moving average of $7.19.

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

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.

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