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

Fluence Energy, Inc. (NASDAQ:FLNC) saw a large increase in short interest in the month of December. As of December 31st, there was short interest totalling 15,640,000 shares, an increase of 8.9% from the December 15th total of 14,360,000 shares. Based on an average trading volume of 2,600,000 shares, the short-interest ratio is currently 6.0 days.

Analyst Ratings Changes

A number of equities research analysts recently commented on the stock. BMO Capital Markets increased their price objective on shares of Fluence Energy from $24.00 to $25.00 and gave the company an “outperform” rating in a research note on Monday, October 14th. Royal Bank of Canada lowered their price target on shares of Fluence Energy from $28.00 to $27.00 and set an “outperform” rating on the stock in a research report on Wednesday, November 27th. Truist Financial lifted their price objective on Fluence Energy from $25.00 to $28.00 and gave the stock a “buy” rating in a research report on Wednesday, October 16th. Guggenheim reiterated a “buy” rating and set a $26.00 target price on shares of Fluence Energy in a report on Friday, December 6th. Finally, Piper Sandler raised their price target on Fluence Energy from $18.00 to $20.00 and gave the stock a “neutral” rating in a research report on Wednesday, November 27th. Seven analysts have rated the stock with a hold rating and fourteen have given a buy rating to the company. According to data from MarketBeat, the stock has a consensus rating of “Moderate Buy” and an average target price of $26.65.

Insider Activity

In other news, Director Herman E. Bulls bought 10,000 shares of the stock in a transaction on Monday, December 23rd. The shares were bought at an average price of $15.57 per share, with a total value of $155,700.00. Following the completion of the acquisition, the director now owns 75,861 shares of the company’s stock, valued at approximately $1,181,155.77. This trade represents a 15.18 % increase in their ownership of the stock. The acquisition was disclosed in a filing with the Securities & Exchange Commission, which is available through this hyperlink. Insiders own 0.41% of the company’s stock.

Hedge Funds Weigh In On Fluence Energy

Several hedge funds and other institutional investors have recently modified their holdings of FLNC. Handelsbanken Fonder AB increased its position in Fluence Energy by 47.3% during the 3rd quarter. Handelsbanken Fonder AB now owns 6,376,024 shares of the company’s stock worth $144,800,000 after purchasing an additional 2,047,063 shares in the last quarter. FMR LLC increased its position in shares of Fluence Energy by 9.0% in the third quarter. FMR LLC now owns 1,606,100 shares of the company’s stock worth $36,475,000 after acquiring an additional 132,868 shares in the last quarter. Geode Capital Management LLC raised its stake in shares of Fluence Energy by 4.2% in the 3rd quarter. Geode Capital Management LLC now owns 1,508,003 shares of the company’s stock valued at $34,253,000 after acquiring an additional 60,633 shares during the period. Clearbridge Investments LLC lifted its holdings in shares of Fluence Energy by 1.6% during the 2nd quarter. Clearbridge Investments LLC now owns 1,500,841 shares of the company’s stock valued at $26,025,000 after acquiring an additional 23,927 shares in the last quarter. Finally, Erste Asset Management GmbH purchased a new stake in Fluence Energy during the 3rd quarter worth $22,059,000. 53.16% of the stock is owned by institutional investors and hedge funds.

Fluence Energy Stock Performance

Shares of FLNC stock opened at $14.44 on Tuesday. The firm has a market capitalization of $2.62 billion, a price-to-earnings ratio of 111.08, a price-to-earnings-growth ratio of 0.53 and a beta of 2.42. The company has a 50 day moving average price of $17.62 and a 200 day moving average price of $18.60. Fluence Energy has a one year low of $12.74 and a one year high of $26.12.

Fluence Energy (NASDAQ:FLNC) last issued its earnings results on Monday, November 25th. The company reported $0.34 earnings per share for the quarter, topping the consensus estimate of $0.23 by $0.11. Fluence Energy had a return on equity of 4.10% and a net margin of 0.89%. The business had revenue of $1.23 billion for the quarter, compared to analyst estimates of $1.28 billion. During the same period last year, the company posted $0.02 EPS. The business’s quarterly revenue was up 82.5% on a year-over-year basis. As a group, equities analysts forecast that Fluence Energy will post 0.55 EPS for the current fiscal year.

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.