Fluence Energy (NASDAQ:FLNC) Trading 6.6% Higher

Fluence Energy, Inc. (NASDAQ:FLNC) shares traded up 6.6% during mid-day trading on Tuesday . The stock traded as high as $16.75 and last traded at $16.72. 166,478 shares changed hands during mid-day trading, a decline of 93% from the average session volume of 2,232,246 shares. The stock had previously closed at $15.69.

Wall Street Analyst Weigh In

FLNC has been the topic of several analyst reports. 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. JPMorgan Chase & Co. raised shares of Fluence Energy from a “neutral” rating to an “overweight” rating and set a $23.00 target price on the stock in a research report on Friday, February 23rd. Bank of America lifted their target price on shares of Fluence Energy from $26.00 to $28.00 and gave the stock a “buy” rating in a research report on Thursday, January 4th. The Goldman Sachs Group dropped their target price on shares of Fluence Energy from $32.00 to $26.00 and set a “buy” rating on the stock in a research report on Friday, March 22nd. Finally, BMO Capital Markets raised shares of Fluence Energy from a “market perform” rating to an “outperform” rating and set a $27.00 price objective on the stock in a research report on Tuesday, January 16th. One investment analyst has rated the stock with a sell rating, two have issued 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 $28.56.

Fluence Energy Price Performance

The stock’s 50 day simple moving average is $15.98 and its 200-day simple moving average is $19.27.

Fluence Energy (NASDAQ:FLNC) last posted its earnings results on Wednesday, February 7th. The company reported ($0.14) earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of ($0.13) by ($0.01). The business had revenue of $363.96 million during the quarter, compared to analyst estimates of $403.93 million. Fluence Energy had a negative net margin of 2.72% and a negative return on equity of 11.18%. Fluence Energy’s revenue was up 17.2% compared to the same quarter last year. During the same quarter last year, the firm earned ($0.21) earnings per share. Equities research analysts predict that Fluence Energy, Inc. 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. National Bank of Canada FI acquired a new stake in shares of Fluence Energy in the third quarter worth $27,000. Pflug Koory LLC acquired a new stake in shares of Fluence Energy in the first quarter worth $35,000. Quarry LP acquired a new stake in shares of Fluence Energy in the fourth quarter worth $38,000. Allspring Global Investments Holdings LLC lifted its stake in shares of 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 buying an additional 1,388 shares during the last quarter. Finally, Quest Partners LLC acquired a new stake in shares of Fluence Energy in the fourth quarter worth $60,000. 53.16% of the stock is currently owned by institutional investors and hedge funds.

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.