Fluence Energy, Inc. (NASDAQ:FLNC) Short Interest Update

Fluence Energy, Inc. (NASDAQ:FLNCGet Free Report) was the target of a large decline in short interest during the month of May. As of May 15th, there was short interest totalling 12,670,000 shares, a decline of 6.0% from the April 30th total of 13,480,000 shares. Based on an average daily trading volume, of 2,190,000 shares, the days-to-cover ratio is currently 5.8 days.

Fluence Energy Price Performance

Shares of Fluence Energy stock opened at $24.40 on Tuesday. The firm has a fifty day moving average price of $18.49 and a two-hundred day moving average price of $19.50. Fluence Energy has a fifty-two week low of $13.03 and a fifty-two week high of $31.32.

Fluence Energy (NASDAQ:FLNCGet Free Report) last released its earnings results on Wednesday, May 8th. The company reported ($0.07) earnings per share for the quarter, meeting the consensus estimate of ($0.07). Fluence Energy had a negative net margin of 2.10% and a negative return on equity of 8.48%. The business had revenue of $623.14 million during the quarter, compared to analysts’ expectations of $538.42 million. During the same quarter last year, the company earned ($0.21) earnings per share. The firm’s revenue was down 10.7% on a year-over-year basis. As a group, analysts expect that Fluence Energy will post 0.14 EPS for the current fiscal year.

Institutional Trading of Fluence Energy

A number of institutional investors and hedge funds have recently modified their holdings of FLNC. Pflug Koory LLC bought a new stake in Fluence Energy in the 1st quarter valued at $35,000. Quarry LP bought a new stake in Fluence Energy in the fourth quarter valued at about $38,000. Baillie Gifford & Co. bought a new stake in Fluence Energy in the first quarter valued at about $38,000. Allspring Global Investments Holdings LLC raised its position in Fluence Energy by 185.3% in the third quarter. Allspring Global Investments Holdings LLC now owns 2,137 shares of the company’s stock worth $49,000 after purchasing an additional 1,388 shares in the last quarter. Finally, Quest Partners LLC bought a new position in Fluence Energy during the fourth quarter worth about $60,000. 53.16% of the stock is currently owned by institutional investors.

Wall Street Analysts Forecast Growth

FLNC has been the topic of a number of research reports. Morgan Stanley dropped their price objective on Fluence Energy from $32.00 to $30.00 and set an “equal weight” rating on the stock in a report on Friday, May 10th. Roth Mkm reaffirmed a “buy” rating and issued a $27.00 price objective (down previously from $31.00) on shares of Fluence Energy in a research note on Friday, May 10th. Susquehanna raised shares of Fluence Energy from a “neutral” rating to a “positive” rating and set a $24.00 target price on the stock in a research report on Monday, February 26th. Piper Sandler reduced their price target on Fluence Energy from $20.00 to $18.00 and set a “neutral” rating for the company in a research report on Friday, May 10th. Finally, Evercore ISI cut their price objective on Fluence Energy from $59.00 to $47.00 and set an “outperform” rating on the stock in a research note on Monday, May 13th. One analyst has rated the stock with a sell rating, two have given a hold rating and fourteen have assigned a buy rating to the stock. According to MarketBeat.com, the stock has a consensus rating of “Moderate Buy” and a consensus price target of $29.00.

Read Our Latest Stock Analysis on Fluence Energy

Fluence Energy Company Profile

(Get Free Report)

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.

See Also

Receive News & Ratings for Fluence Energy Daily - Enter your email address below to receive a concise daily summary of the latest news and analysts' ratings for Fluence Energy and related companies with MarketBeat.com's FREE daily email newsletter.