Fluence Energy (NASDAQ:FLNC) Trading 10.2% Higher – Here’s What Happened

Fluence Energy, Inc. (NASDAQ:FLNCGet Free Report) shares traded up 10.2% on Thursday . The company traded as high as $26.94 and last traded at $27.3910. 8,925,601 shares traded hands during trading, an increase of 17% from the average session volume of 7,652,707 shares. The stock had previously closed at $24.85.

Analysts Set New Price Targets

A number of research firms have weighed in on FLNC. Guggenheim raised shares of Fluence Energy from a “sell” rating to a “neutral” rating in a research note on Thursday, March 19th. Canaccord Genuity Group set a $28.00 price target on Fluence Energy in a report on Friday, May 8th. Jefferies Financial Group set a $24.00 target price on Fluence Energy in a report on Monday, February 9th. UBS Group lifted their price target on Fluence Energy from $8.00 to $9.00 and gave the stock a “sell” rating in a report on Monday, May 11th. Finally, BMO Capital Markets restated a “market perform” rating and set a $15.00 price objective on shares of Fluence Energy in a research report on Wednesday, April 29th. Five research analysts have rated the stock with a Buy rating, twelve have given a Hold rating and four have issued a Sell rating to the company’s stock. Based on data from MarketBeat, the stock has an average rating of “Hold” and a consensus target price of $19.47.

Read Our Latest Research Report on FLNC

Fluence Energy Stock Up 9.6%

The stock has a market capitalization of $5.02 billion, a price-to-earnings ratio of -76.16 and a beta of 2.77. The business has a 50-day moving average of $16.89 and a 200-day moving average of $19.16. The company has a debt-to-equity ratio of 0.85, a quick ratio of 0.91 and a current ratio of 1.43.

Fluence Energy (NASDAQ:FLNCGet Free Report) last posted its earnings results on Wednesday, May 6th. The company reported ($0.16) EPS for the quarter, beating analysts’ consensus estimates of ($0.18) by $0.02. The company had revenue of $464.89 million for the quarter, compared to analysts’ expectations of $614.93 million. Fluence Energy had a negative net margin of 1.62% and a negative return on equity of 8.29%. Fluence Energy’s revenue for the quarter was up 7.7% compared to the same quarter last year. During the same quarter in the prior year, the company posted ($0.24) earnings per share. On average, sell-side analysts expect that Fluence Energy, Inc. will post -0.22 EPS for the current year.

Insider Activity at Fluence Energy

In related news, Director Heynitz Harald Von sold 10,000 shares of the stock in a transaction that occurred on Wednesday, March 18th. The shares were sold at an average price of $16.50, for a total transaction of $165,000.00. Following the completion of the transaction, the director owned 63,550 shares of the company’s stock, valued at approximately $1,048,575. This trade represents a 13.60% decrease in their position. The transaction was disclosed in a document filed with the SEC, which is accessible through this hyperlink. Also, major shareholder Qatar Investment Authority sold 2,867,172 shares of Fluence Energy stock in a transaction that occurred on Friday, May 15th. The shares were sold at an average price of $21.00, for a total transaction of $60,210,612.00. Following the completion of the sale, the insider owned 11,801,103 shares of the company’s stock, valued at $247,823,163. This trade represents a 19.55% decrease in their position. The disclosure for this sale is available in the SEC filing. Corporate insiders own 0.69% of the company’s stock.

Institutional Investors Weigh In On Fluence Energy

Hedge funds have recently added to or reduced their stakes in the business. Dragoneer Investment Group LLC purchased a new position in Fluence Energy in the 3rd quarter valued at approximately $65,883,000. Goldman Sachs Group Inc. increased its position in shares of Fluence Energy by 189.7% during the first quarter. Goldman Sachs Group Inc. now owns 3,171,146 shares of the company’s stock worth $15,380,000 after acquiring an additional 2,076,668 shares during the period. Bank of America Corp DE raised its stake in shares of Fluence Energy by 24.4% in the first quarter. Bank of America Corp DE now owns 3,085,730 shares of the company’s stock valued at $42,460,000 after acquiring an additional 604,983 shares in the last quarter. Price T Rowe Associates Inc. MD boosted its holdings in Fluence Energy by 5,489.8% in the fourth quarter. Price T Rowe Associates Inc. MD now owns 3,045,780 shares of the company’s stock valued at $60,247,000 after purchasing an additional 2,991,292 shares during the period. Finally, UBS Group AG boosted its holdings in Fluence Energy by 65.2% in the fourth quarter. UBS Group AG now owns 2,625,878 shares of the company’s stock valued at $51,940,000 after purchasing an additional 1,036,423 shares during the period. 53.16% of the stock is currently owned by institutional investors and hedge funds.

About Fluence Energy

(Get Free Report)

Fluence Energy is a leading global provider of energy storage products and services, specializing in the deployment of advanced battery systems to support grid stability and renewable integration. The company develops, engineers and delivers turnkey energy storage solutions designed to optimize the reliability, efficiency and economic performance of power networks. By combining hardware, software and lifecycle services, Fluence addresses the growing need for flexible energy assets in an evolving electricity landscape.

The company’s core offerings include modular energy storage platforms that pair lithium-ion battery technology with control and optimization software.

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