Fluence Energy (NASDAQ:FLNC) Trading 9.1% Higher - Time to Buy?

Shares of Fluence Energy, Inc. (NASDAQ:FLNC - Get Free Report) shot up 9.1% on Monday . The company traded as high as $6.91 and last traded at $6.70. 1,135,308 shares traded hands during trading, a decline of 79% from the average session volume of 5,329,353 shares. The stock had previously closed at $6.14.

Wall Street Analysts Forecast Growth

FLNC has been the subject of a number of recent research reports. JPMorgan Chase & Co. downgraded shares of Fluence Energy from an "overweight" rating to a "neutral" rating and reduced their target price for the stock from $14.00 to $7.00 in a report on Friday, April 11th. Guggenheim decreased their target price on shares of Fluence Energy from $6.00 to $2.00 and set a "sell" rating for the company in a research report on Tuesday, April 15th. Morgan Stanley raised their target price on shares of Fluence Energy from $4.00 to $5.00 and gave the company an "equal weight" rating in a research note on Monday, May 19th. HSBC downgraded Fluence Energy from a "buy" rating to a "hold" rating and set a $4.00 price target on the stock. in a research report on Monday, April 28th. Finally, UBS Group raised their price objective on Fluence Energy from $4.50 to $6.00 and gave the stock a "neutral" rating in a research report on Tuesday, May 13th. Two analysts have rated the stock with a sell rating, eighteen have given a hold rating and five have assigned a buy rating to the company. According to MarketBeat, the company has a consensus rating of "Hold" and a consensus target price of $7.88.

Fluence Energy Trading Up 11.7%

The company has a 50 day simple moving average of $5.20 and a 200 day simple moving average of $7.90. The company has a market capitalization of $1.52 billion, a PE ratio of -37.98 and a beta of 2.65. The company has a debt-to-equity ratio of 0.78, a quick ratio of 0.99 and a current ratio of 1.51.

Fluence Energy (NASDAQ:FLNC - Get Free Report) last issued its quarterly earnings results on Wednesday, May 7th. The company reported ($0.24) EPS 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 analysts' expectations of $328.17 million. Fluence Energy had a negative return on equity of 4.40% and a negative net margin of 1.10%. The firm's revenue for the quarter was down 30.7% compared to the same quarter last year. During the same quarter in the previous year, the firm posted ($0.07) earnings per share. Analysts anticipate that Fluence Energy, Inc. will post 0.08 earnings per share for the current year.

Insider Activity at Fluence Energy

In other Fluence Energy news, Director Cynthia A. Arnold purchased 33,000 shares of the firm's stock in a transaction dated 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 purchase, the director owned 86,202 shares in the company, valued at approximately $508,591.80. This represents a 62.03% increase in their position. The acquisition was disclosed in a document filed with the SEC, which is available through this link. 0.65% of the stock is owned by company insiders.

Institutional Trading of Fluence Energy

A number of hedge funds have recently bought and sold shares of FLNC. Vanguard Group Inc. boosted its holdings in shares of Fluence Energy by 1.8% during the 4th quarter. Vanguard Group Inc. now owns 6,252,320 shares of the company's stock worth $99,287,000 after purchasing an additional 110,256 shares during the last quarter. Goldman Sachs Group Inc. lifted its position in Fluence Energy by 189.7% during the first quarter. Goldman Sachs Group Inc. now owns 3,171,146 shares of the company's stock worth $15,380,000 after buying an additional 2,076,668 shares in the last quarter. CenterBook Partners LP acquired a new position in Fluence Energy during the first quarter worth $12,458,000. Zimmer Partners LP boosted its stake in Fluence Energy by 757.7% during the fourth quarter. Zimmer Partners LP now owns 2,144,301 shares of the company's stock worth $34,052,000 after buying an additional 1,894,301 shares during the last quarter. Finally, Clearbridge Investments LLC raised its holdings in shares of Fluence Energy by 19.1% during the 4th quarter. Clearbridge Investments LLC now owns 1,849,301 shares of the company's stock worth $29,367,000 after acquiring an additional 296,325 shares during the period. Institutional investors and hedge funds own 53.16% of the company's stock.

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.