Fluence Energy (NASDAQ:FLNC) Sees Unusually-High Trading Volume – Should You Buy?

Fluence Energy, Inc. (NASDAQ:FLNC) saw strong trading volume on Wednesday . 2,572,752 shares changed hands during trading, an increase of 12% from the previous session’s volume of 2,296,827 shares.The stock last traded at $16.23 and had previously closed at $16.42.

Analyst Upgrades and Downgrades

FLNC has been the subject of several research reports. Royal Bank of Canada lowered their price objective on shares of Fluence Energy from $28.00 to $27.00 and set an “outperform” rating for the company in a research report on Wednesday, November 27th. Jefferies Financial Group assumed coverage on Fluence Energy in a research report on Wednesday, September 4th. They set a “buy” rating and a $26.00 price target for the company. Piper Sandler raised their target price on Fluence Energy from $18.00 to $20.00 and gave the stock a “neutral” rating in a report on Wednesday, November 27th. Robert W. Baird reduced their price target on Fluence Energy from $27.00 to $24.00 and set an “outperform” rating for the company in a report on Wednesday, November 27th. Finally, BNP Paribas upgraded Fluence Energy from an “underperform” rating to a “neutral” rating and set a $22.00 price objective on the stock in a report on Friday, November 8th. Five investment analysts have rated the stock with a hold rating and fifteen have issued a buy rating to the company’s stock. Based on data from MarketBeat.com, the stock presently has a consensus rating of “Moderate Buy” and an average price target of $26.85.

Fluence Energy Stock Performance

The stock has a 50 day moving average of $20.44 and a two-hundred day moving average of $19.56. The stock has a market cap of $2.95 billion, a PE ratio of 126.31, a PEG ratio of 0.55 and a beta of 2.39.

Fluence Energy (NASDAQ:FLNC) last released its quarterly earnings results on Monday, November 25th. The company reported $0.34 earnings per share for the quarter, beating analysts’ consensus estimates of $0.23 by $0.11. Fluence Energy had a net margin of 0.89% and a return on equity of 4.10%. The business had revenue of $1.23 billion for the quarter, compared to the consensus estimate of $1.28 billion. During the same quarter last year, the firm earned $0.02 EPS. Fluence Energy’s revenue for the quarter was up 82.5% on a year-over-year basis. Analysts expect that Fluence Energy, Inc. will post 0.56 EPS for the current fiscal year.

Institutional Investors Weigh In On Fluence Energy

A number of institutional investors and hedge funds have recently made changes to their positions in FLNC. Price T Rowe Associates Inc. MD raised its holdings in shares of Fluence Energy by 10.1% during the first quarter. Price T Rowe Associates Inc. MD now owns 22,689 shares of the company’s stock worth $394,000 after acquiring an additional 2,081 shares during the period. Comerica Bank lifted its holdings in Fluence Energy by 79.1% during the 1st quarter. Comerica Bank now owns 4,211 shares of the company’s stock valued at $73,000 after purchasing an additional 1,860 shares during the last quarter. Blue Trust Inc. bought a new position in Fluence Energy during the second quarter worth $58,000. Harel Insurance Investments & Financial Services Ltd. acquired a new stake in Fluence Energy during the 2nd quarter worth approximately $184,000. Finally, Bank of New York Mellon Corp increased its position in Fluence Energy by 19.6% during the second quarter. Bank of New York Mellon Corp now owns 217,709 shares of the company’s stock worth $3,775,000 after acquiring an additional 35,701 shares during the period. Institutional investors own 53.16% of the company’s stock.

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.