Fluence Energy (NASDAQ:FLNC) Shares Up 6.6%

Fluence Energy, Inc. (NASDAQ:FLNC - Get Free Report)'s stock price shot up 6.6% during mid-day trading on Tuesday . The stock traded as high as $16.75 and last traded at $16.72. 166,478 shares changed hands during trading, a decline of 93% from the average session volume of 2,232,246 shares. The stock had previously closed at $15.69.

Analyst Upgrades and Downgrades

Several brokerages have issued reports on FLNC. JPMorgan Chase & Co. upgraded Fluence Energy from a "neutral" rating to an "overweight" rating and set a $23.00 target price for the company in a research report on Friday, February 23rd. BMO Capital Markets upgraded Fluence Energy from a "market perform" rating to an "outperform" rating and set a $27.00 target price for the company in a research report on Tuesday, January 16th. Susquehanna upgraded Fluence Energy from a "neutral" rating to a "positive" rating and set a $24.00 target price for the company in a research report on Monday, February 26th. The Goldman Sachs Group lowered their price target on Fluence Energy from $32.00 to $26.00 and set a "buy" rating for the company in a report on Friday, March 22nd. Finally, Raymond James upgraded Fluence Energy from a "market perform" rating to an "outperform" rating and set a $22.00 price target for the company in a report on Wednesday, April 3rd. 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. According to MarketBeat, the stock currently has an average rating of "Moderate Buy" and an average target price of $28.56.

Fluence Energy Stock Up 3.5 %

The company has a market cap of $2.90 billion, a P/E ratio of -31.51 and a beta of 2.57. The business's 50 day moving average is $16.15 and its 200 day moving average is $19.32.

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

Hedge Funds Weigh In On Fluence Energy

A number of large investors have recently bought and sold shares of FLNC. Vanguard Group Inc. increased its position in shares of 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 purchasing an additional 1,605,345 shares in the last quarter. FMR LLC increased its position in shares of Fluence Energy by 146.9% during the third quarter. FMR LLC now owns 3,959,313 shares of the company's stock worth $91,025,000 after purchasing an additional 2,355,849 shares in the last quarter. Handelsbanken Fonder AB increased its position in shares of Fluence Energy by 145.5% during the fourth quarter. Handelsbanken Fonder AB now owns 2,880,052 shares of the company's stock worth $68,689,000 after purchasing an additional 1,706,808 shares in the last quarter. Schroder Investment Management Group increased its position in shares of Fluence Energy by 65.2% during the third quarter. Schroder Investment Management Group now owns 2,694,654 shares of the company's stock worth $61,950,000 after purchasing an additional 1,063,609 shares in the last quarter. Finally, Clearbridge Investments LLC increased its position in shares of Fluence Energy by 20.2% during the fourth quarter. Clearbridge Investments LLC now owns 1,424,170 shares of the company's stock worth $33,966,000 after purchasing an additional 239,772 shares in the last quarter. Institutional investors own 53.16% of the company's stock.

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.