Fluence Energy (NASDAQ:FLNC) Trading 8.1% Higher - Here's Why

Fluence Energy, Inc. (NASDAQ:FLNC - Get Free Report)'s stock price traded up 8.1% on Tuesday . The stock traded as high as $4.86 and last traded at $4.80. 840,058 shares changed hands during mid-day trading, a decline of 85% from the average session volume of 5,425,350 shares. The stock had previously closed at $4.44.

Analysts Set New Price Targets

Several equities analysts have recently weighed in on the stock. Bank of America cut shares of Fluence Energy from a "buy" rating to a "neutral" rating and lowered their price objective for the stock from $20.00 to $8.00 in a research note on Thursday, February 13th. Guggenheim lowered their price objective on shares of Fluence Energy from $6.00 to $2.00 and set a "sell" rating on the stock in a research note on Tuesday, April 15th. Robert W. Baird decreased their target price on shares of Fluence Energy from $9.00 to $5.00 and set a "neutral" rating on the stock in a research note on Tuesday, April 15th. BMO Capital Markets cut shares of Fluence Energy from an "outperform" rating to a "market perform" rating and decreased their target price for the stock from $22.00 to $10.00 in a research note on Tuesday, February 11th. Finally, The Goldman Sachs Group decreased their target price on shares of Fluence Energy from $9.00 to $8.00 and set a "buy" rating on the stock in a research note on Friday, May 9th. Two research analysts have rated the stock with a sell rating, eighteen have given a hold rating and five have issued 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 $8.12.

Fluence Energy Stock Performance

The company has a debt-to-equity ratio of 0.74, a quick ratio of 1.14 and a current ratio of 1.57. The business's fifty day simple moving average is $4.48 and its 200-day simple moving average is $9.68. The firm has a market capitalization of $838.76 million, a PE ratio of -92.40 and a beta of 2.51.

Fluence Energy (NASDAQ:FLNC - Get Free Report) last posted its earnings results on Wednesday, May 7th. The company reported ($0.24) earnings per share for the quarter, missing analysts' consensus estimates of ($0.21) by ($0.03). Fluence Energy had a negative net margin of 0.08% and a negative return on equity of 0.36%. The business had revenue of $431.62 million during the quarter, compared to analysts' expectations of $328.17 million. During the same period last year, the business posted ($0.07) earnings per share. The company's revenue for the quarter was down 30.7% compared to the same quarter last year. As a group, equities research analysts expect that Fluence Energy, Inc. will post 0.08 EPS for the current year.

Insider Activity at Fluence Energy

In other Fluence Energy news, Director Cynthia A. Arnold bought 33,000 shares of the business's stock in a transaction that occurred on Monday, May 12th. The stock was purchased at an average cost of $5.90 per share, with a total value of $194,700.00. Following the completion of the acquisition, the director now owns 86,202 shares in the company, valued at $508,591.80. This trade represents a 62.03% increase in their position. The acquisition was disclosed in a filing with the Securities & Exchange Commission, which is available through the SEC website. 0.65% of the stock is currently owned by insiders.

Institutional Inflows and Outflows

Institutional investors and hedge funds have recently modified their holdings of the business. Altshuler Shaham Ltd purchased a new position in shares of Fluence Energy in the fourth quarter valued at $34,000. Tower Research Capital LLC TRC lifted its position in Fluence Energy by 827.1% in the fourth quarter. Tower Research Capital LLC TRC now owns 5,516 shares of the company's stock worth $88,000 after buying an additional 4,921 shares during the last quarter. SBI Securities Co. Ltd. lifted its position in Fluence Energy by 462.6% in the first quarter. SBI Securities Co. Ltd. now owns 8,085 shares of the company's stock worth $39,000 after buying an additional 6,648 shares during the last quarter. TFB Advisors LLC bought a new stake in Fluence Energy in the first quarter worth $53,000. Finally, Blueshift Asset Management LLC bought a new stake in Fluence Energy in the fourth quarter worth $176,000. 53.16% of the stock is owned by hedge funds and other institutional investors.

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.