Fluence Energy, Inc. (NASDAQ:FLNC) Sees Significant Increase in Short Interest

Fluence Energy, Inc. (NASDAQ:FLNC) was the recipient of a significant increase in short interest in the month of August. As of August 31st, there was short interest totalling 7,900,000 shares, an increase of 11.3% from the August 15th total of 7,100,000 shares. Based on an average daily volume of 1,260,000 shares, the days-to-cover ratio is currently 6.3 days.

Fluence Energy Trading Down 0.7 %

Shares of Fluence Energy stock traded down $0.17 on Monday, hitting $25.07. The stock had a trading volume of 267,532 shares, compared to its average volume of 1,258,582. The stock has a market cap of $4.44 billion, a price-to-earnings ratio of -26.76 and a beta of 2.59. Fluence Energy has a one year low of $11.90 and a one year high of $31.32. The company has a quick ratio of 0.92, a current ratio of 1.46 and a debt-to-equity ratio of 0.09. The stock’s 50-day simple moving average is $26.46 and its two-hundred day simple moving average is $23.22.

Fluence Energy (NASDAQ:FLNC) last posted its earnings results on Wednesday, August 9th. The company reported ($0.20) earnings per share (EPS) for the quarter, topping the consensus estimate of ($0.21) by $0.01. The company had revenue of $536.35 million for the quarter, compared to analysts’ expectations of $478.49 million. Fluence Energy had a negative return on equity of 21.07% and a negative net margin of 5.54%. Fluence Energy’s quarterly revenue was up 124.4% on a year-over-year basis. During the same period last year, the firm earned ($0.99) earnings per share. As a group, sell-side analysts predict that Fluence Energy will post -0.71 EPS for the current year.

Institutional Investors Weigh In On Fluence Energy

A number of large investors have recently made changes to their positions in FLNC. Harbor Capital Advisors Inc. bought a new stake in Fluence Energy in the second quarter valued at $25,000. Atticus Wealth Management LLC boosted its stake in shares of Fluence Energy by 43.9% during the 1st quarter. Atticus Wealth Management LLC now owns 1,640 shares of the company’s stock valued at $33,000 after purchasing an additional 500 shares in the last quarter. Point72 Hong Kong Ltd bought a new stake in Fluence Energy during the 2nd quarter valued at approximately $39,000. Quarry LP boosted its position in Fluence Energy by 342.2% during the 1st quarter. Quarry LP now owns 2,401 shares of the company’s stock valued at $49,000 after acquiring an additional 1,858 shares in the last quarter. Finally, Legal & General Group Plc boosted its position in Fluence Energy by 107.9% during the 2nd quarter. Legal & General Group Plc now owns 5,940 shares of the company’s stock valued at $56,000 after acquiring an additional 3,083 shares in the last quarter. 53.16% of the stock is currently owned by institutional investors.

Wall Street Analyst Weigh In

Several research firms recently issued reports on FLNC. Barclays assumed coverage on Fluence Energy in a research note on Wednesday, August 30th. They set an “overweight” rating and a $31.00 price objective for the company. Piper Sandler began coverage on shares of Fluence Energy in a research report on Friday, June 23rd. They issued a “neutral” rating and a $24.00 price objective on the stock. Citigroup lifted their target price on shares of Fluence Energy from $28.00 to $36.00 and gave the company a “buy” rating in a research report on Thursday, July 27th. Guggenheim boosted their price target on shares of Fluence Energy from $40.00 to $44.00 in a research note on Friday, August 11th. Finally, Royal Bank of Canada boosted their price target on shares of Fluence Energy from $26.00 to $32.00 in a research note on Thursday, June 22nd. Eight analysts have rated the stock with a hold rating and ten have assigned a buy rating to the company. Based on data from MarketBeat, Fluence Energy has a consensus rating of “Moderate Buy” and an average price target of $29.40.

About Fluence Energy

Fluence Energy, Inc, through its subsidiaries, offers energy storage products and services, and artificial intelligence enabled digital applications for renewables and storage applications in the Americas, Asia Pacific, Europe, Middle-East, and Africa. The company sells energy storage products with integrated hardware, software, and digital intelligence.