Fluence Energy (NASDAQ:FLNC) Trading Up 4.9% - What's Next?

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

Analyst Upgrades and Downgrades

Several research firms have recently issued reports on FLNC. HSBC downgraded Fluence Energy from a "buy" rating to a "hold" rating and set a $4.00 price target for the company. in a research note on Monday, April 28th. Canaccord Genuity Group lowered their price target on Fluence Energy from $14.00 to $10.00 and set a "buy" rating on the stock in a report on Wednesday, April 16th. Jefferies Financial Group cut shares of Fluence Energy from a "hold" rating to an "underperform" rating and decreased their price target for the company from $4.00 to $3.00 in a report on Thursday, May 15th. Barclays reiterated an "equal weight" rating and issued a $5.00 price objective (down from $9.00) on shares of Fluence Energy in a research note on Tuesday, April 8th. Finally, The Goldman Sachs Group cut their price target on Fluence Energy from $9.00 to $8.00 and set a "buy" rating for the company in a report on Friday, May 9th. Two research analysts have rated the stock with a sell rating, eighteen have assigned a hold rating and five have given a buy rating to the company. According to data from MarketBeat, the company has a consensus rating of "Hold" and an average price target of $8.12.

Fluence Energy Price Performance

The stock has a market capitalization of $1.02 billion, a P/E ratio of -25.55 and a beta of 2.51. The company's 50 day simple moving average is $4.68 and its two-hundred day simple moving average is $8.42. 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 issued its quarterly earnings data on Wednesday, May 7th. The company reported ($0.24) earnings per share (EPS) for the quarter, missing the consensus estimate of ($0.21) by ($0.03). The business had revenue of $431.62 million during 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%. The company'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) EPS. As a group, equities analysts expect that Fluence Energy, Inc. will post 0.08 EPS for the current fiscal year.

Insider Buying and Selling

In other news, Director Cynthia A. Arnold acquired 33,000 shares of the company's stock in a transaction 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 acquisition, the director now owns 86,202 shares of the company's stock, valued at $508,591.80. This trade represents a 62.03% increase in their position. The acquisition was disclosed in a document filed with the Securities & Exchange Commission, which is available at this link. 0.65% of the stock is owned by corporate insiders.

Institutional Investors Weigh In On Fluence Energy

A number of institutional investors and hedge funds have recently modified their holdings of FLNC. Vanguard Group Inc. raised its position 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 valued at $99,287,000 after acquiring an additional 110,256 shares during the last quarter. Goldman Sachs Group Inc. grew its position in shares of Fluence Energy by 189.7% during the 1st 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 during the period. CenterBook Partners LP bought a new stake in shares of Fluence Energy in the 1st quarter valued at about $12,458,000. Zimmer Partners LP grew 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 valued at $34,052,000 after purchasing an additional 1,894,301 shares during the period. Finally, Clearbridge Investments LLC grew its holdings in Fluence Energy by 19.1% during the fourth quarter. Clearbridge Investments LLC now owns 1,849,301 shares of the company's stock valued at $29,367,000 after purchasing an additional 296,325 shares during the period. 53.16% of the stock is 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.