Fluence Energy (NASDAQ:FLNC) Trading 6.4% Higher After Analyst Upgrade

Fluence Energy, Inc. (NASDAQ:FLNC) shares rose 6.4% during mid-day trading on Tuesday after Morgan Stanley raised their price target on the stock from $4.00 to $5.00. Morgan Stanley currently has an equal weight rating on the stock. Fluence Energy traded as high as $5.47 and last traded at $5.61. Approximately 501,029 shares traded hands during mid-day trading, a decline of 86% from the average daily volume of 3,647,448 shares. The stock had previously closed at $5.27.

A number of other research firms have also weighed in on FLNC. Mizuho initiated coverage on Fluence Energy in a research note on Wednesday, March 5th. They set an “outperform” rating and a $8.00 price objective for the company. Wolfe Research lowered Fluence Energy from an “outperform” rating to a “peer perform” rating in a research note on Wednesday, February 12th. Bank of America lowered Fluence Energy from a “buy” rating to a “neutral” rating and dropped their price objective for the company from $20.00 to $8.00 in a research note on Thursday, February 13th. JPMorgan Chase & Co. lowered Fluence Energy from an “overweight” rating to a “neutral” rating and dropped their price objective for the company from $14.00 to $7.00 in a research note on Friday, April 11th. Finally, Susquehanna dropped their price objective on Fluence Energy from $10.00 to $8.00 and set a “positive” rating for the company in a research note on Monday, April 14th. Two research analysts have rated the stock with a sell rating, eighteen have given a hold rating and five have assigned a buy rating to the company’s stock. According to data from MarketBeat.com, the company currently has a consensus rating of “Hold” and a consensus target price of $8.21.

Insiders Place Their Bets

In related news, Director Herman E. Bulls bought 10,000 shares of the business’s stock in a transaction dated Wednesday, March 5th. The shares were purchased at an average cost of $5.41 per share, with a total value of $54,100.00. Following the completion of the purchase, the director now owns 115,861 shares in the company, valued at approximately $626,808.01. The trade was a 9.45% increase in their position. The purchase was disclosed in a document filed with the SEC, which can be accessed through this hyperlink. Also, Director Cynthia A. Arnold bought 33,000 shares of the business’s stock in a transaction dated Monday, May 12th. The stock was bought at an average cost of $5.90 per share, for a total transaction of $194,700.00. Following the completion of the purchase, the director now owns 86,202 shares of the company’s stock, valued at approximately $508,591.80. The trade was a 62.03% increase in their position. The disclosure for this purchase can be found here. 0.65% of the stock is owned by corporate insiders.

Institutional Investors Weigh In On Fluence Energy

A number of institutional investors have recently modified their holdings of the stock. Vanguard Group Inc. grew its stake in shares of Fluence Energy by 1.8% in the fourth quarter. Vanguard Group Inc. now owns 6,252,320 shares of the company’s stock worth $99,287,000 after acquiring an additional 110,256 shares during the last quarter. Goldman Sachs Group Inc. grew its stake in shares of Fluence Energy by 189.7% in 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 last quarter. CenterBook Partners LP purchased a new stake in shares of Fluence Energy in the first quarter worth $12,458,000. Zimmer Partners LP grew its stake in shares of Fluence Energy by 757.7% in the fourth quarter. Zimmer Partners LP now owns 2,144,301 shares of the company’s stock worth $34,052,000 after acquiring an additional 1,894,301 shares during the last quarter. Finally, Clearbridge Investments LLC grew its stake in shares of Fluence Energy by 19.1% in the fourth quarter. Clearbridge Investments LLC now owns 1,849,301 shares of the company’s stock worth $29,367,000 after acquiring an additional 296,325 shares during the last quarter. 53.16% of the stock is owned by hedge funds and other institutional investors.

Fluence Energy Stock Performance

The company has a debt-to-equity ratio of 0.74, a current ratio of 1.57 and a quick ratio of 1.14. The stock has a market capitalization of $973.10 million, a PE ratio of -107.20 and a beta of 2.49. The business has a 50 day moving average price of $4.60 and a 200 day moving average price of $10.93.

Fluence Energy (NASDAQ:FLNC) last released its quarterly earnings data on Wednesday, May 7th. The company reported ($0.24) EPS for the quarter, missing the consensus estimate of ($0.21) by ($0.03). Fluence Energy had a negative net margin of 0.08% and a negative return on equity of 0.36%. The business had revenue of $431.62 million for the quarter, compared to analysts’ expectations of $328.17 million. During the same period last year, the business earned ($0.07) earnings per share. The company’s quarterly revenue was down 30.7% on a year-over-year basis. As a group, equities research analysts expect that Fluence Energy, Inc. will post 0.08 earnings per share for the current year.

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.