Fluence Energy (NASDAQ:FLNC) Shares Up 3.2%

Fluence Energy, Inc. (NASDAQ:FLNC - Get Free Report) shares rose 3.2% on Wednesday . The stock traded as high as $16.80 and last traded at $16.57. Approximately 485,568 shares were traded during trading, a decline of 79% from the average daily volume of 2,276,263 shares. The stock had previously closed at $16.05.

Analyst Upgrades and Downgrades

FLNC has been the topic of a number of research reports. Raymond James raised Fluence Energy from a "market perform" rating to an "outperform" rating and set a $22.00 price target on the stock in a report on Wednesday, April 3rd. The Goldman Sachs Group cut their price target on Fluence Energy from $32.00 to $26.00 and set a "buy" rating for the company in a research note on Friday, March 22nd. Susquehanna upgraded shares of Fluence Energy from a "neutral" rating to a "positive" rating and set a $24.00 price objective on the stock in a research report on Monday, February 26th. Bank of America boosted their price objective on shares of Fluence Energy from $26.00 to $28.00 and gave the company a "buy" rating in a research note on Thursday, January 4th. Finally, BMO Capital Markets upgraded shares of Fluence Energy from a "market perform" rating to an "outperform" rating and set a $27.00 target price for the company in a research note on Tuesday, January 16th. One investment analyst has rated the stock with a sell rating, two have assigned a hold rating and fourteen have assigned a buy rating to the company's stock. According to MarketBeat, the company currently has a consensus rating of "Moderate Buy" and an average target price of $28.56.

Fluence Energy Stock Performance

The stock has a market capitalization of $2.85 billion, a PE ratio of -30.15 and a beta of 2.57. The company's fifty day simple moving average is $16.55 and its two-hundred day simple moving average is $19.45.

Fluence Energy (NASDAQ:FLNC - Get Free Report) last issued its quarterly earnings data on Wednesday, February 7th. The company reported ($0.14) earnings per share for the quarter, missing analysts' consensus estimates of ($0.13) by ($0.01). The business had revenue of $363.96 million for the quarter, compared to analysts' expectations of $403.93 million. Fluence Energy had a negative return on equity of 11.18% and a negative net margin of 2.72%. The company's revenue for the quarter was up 17.2% on a year-over-year basis. During the same period last year, the business earned ($0.21) earnings per share. Sell-side analysts forecast that Fluence Energy, Inc. will post 0.14 EPS for the current fiscal year.

Institutional Inflows and Outflows

Institutional investors and hedge funds have recently added to or reduced their stakes in the company. Siemens AG purchased a new position in shares of Fluence Energy during the fourth quarter valued at approximately $681,508,000. FMR LLC grew its position in shares of Fluence Energy by 146.9% in the third quarter. FMR LLC now owns 3,959,313 shares of the company's stock valued at $91,025,000 after purchasing an additional 2,355,849 shares during the period. Handelsbanken Fonder AB increased its stake in Fluence Energy by 145.5% in the fourth quarter. Handelsbanken Fonder AB now owns 2,880,052 shares of the company's stock valued at $68,689,000 after purchasing an additional 1,706,808 shares during the last quarter. Vanguard Group Inc. lifted its position in Fluence Energy by 41.0% during the fourth quarter. Vanguard Group Inc. now owns 5,521,379 shares of the company's stock worth $131,685,000 after buying an additional 1,605,345 shares during the period. Finally, Clean Energy Transition LLP acquired a new stake in Fluence Energy in the 4th quarter worth about $32,124,000. 53.16% of the stock is currently owned by hedge funds and other institutional investors.

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.