Fluence Energy (NASDAQ:FLNC) Trading Up 4.9% - Time to Buy?

Fluence Energy, Inc. (NASDAQ:FLNC - Get Free Report)'s share price was up 4.9% during trading on Friday . The stock traded as high as $5.91 and last traded at $5.84. Approximately 1,125,288 shares changed hands during trading, a decline of 70% from the average daily volume of 3,708,696 shares. The stock had previously closed at $5.57.

Wall Street Analysts Forecast Growth

A number of equities research analysts have weighed in on FLNC shares. Barclays reiterated an "equal weight" rating and set a $5.00 target price (down from $9.00) on shares of Fluence Energy in a research note on Tuesday, April 8th. UBS Group boosted their price objective on shares of Fluence Energy from $4.50 to $6.00 and gave the company a "neutral" rating in a research report on Tuesday, May 13th. JPMorgan Chase & Co. downgraded Fluence Energy from an "overweight" rating to a "neutral" rating and lowered their target price for the company from $14.00 to $7.00 in a research report on Friday, April 11th. Canaccord Genuity Group lowered their price objective on Fluence Energy from $14.00 to $10.00 and set a "buy" rating on the stock in a research report on Wednesday, April 16th. Finally, Susquehanna decreased their target price on shares of Fluence Energy from $10.00 to $8.00 and set a "positive" rating on the stock in a research note on Monday, April 14th. Two equities research analysts have rated the stock with a sell rating, eighteen have issued a hold rating and five have issued a buy rating to the company. According to data from MarketBeat, Fluence Energy has a consensus rating of "Hold" and a consensus price target of $8.12.

Fluence Energy Trading Up 10.7%

The company has a quick ratio of 0.99, a current ratio of 1.51 and a debt-to-equity ratio of 0.78. The firm has a market cap of $1.12 billion, a PE ratio of -27.93 and a beta of 2.51. The company's 50 day moving average price is $4.64 and its two-hundred day moving average price is $8.63.

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

Insider Transactions at Fluence Energy

In other news, Director Cynthia A. Arnold bought 33,000 shares of the stock in a transaction on Monday, May 12th. The stock was acquired at an average cost of $5.90 per share, for a total transaction of $194,700.00. Following the acquisition, the director now owns 86,202 shares of the company's stock, valued at $508,591.80. This represents a 62.03% increase in their ownership of the stock. The acquisition was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this link. Company insiders own 0.65% of the company's stock.

Institutional Trading of Fluence Energy

Several institutional investors and hedge funds have recently made changes to their positions in FLNC. Vanguard Group Inc. increased its position in Fluence Energy by 1.8% during the 4th quarter. Vanguard Group Inc. now owns 6,252,320 shares of the company's stock valued at $99,287,000 after purchasing an additional 110,256 shares during the period. Goldman Sachs Group Inc. increased its holdings 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 valued at $15,380,000 after buying an additional 2,076,668 shares during the period. CenterBook Partners LP bought a new position in Fluence Energy in the first quarter worth approximately $12,458,000. Zimmer Partners LP lifted its holdings 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 period. Finally, Clearbridge Investments LLC boosted its position in Fluence Energy by 19.1% during the 4th quarter. Clearbridge Investments LLC now owns 1,849,301 shares of the company's stock valued at $29,367,000 after acquiring an additional 296,325 shares in the last quarter. 53.16% of the stock is currently owned by 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.

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