Fluence Energy, Inc. (NASDAQ:FLNC) Short Interest Up 8.9% in January

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

Insider Buying and Selling at Fluence Energy

In related news, Director Herman E. Bulls acquired 10,000 shares of the business’s stock in a transaction dated Monday, December 23rd. The stock was acquired at an average price of $15.57 per share, with a total value of $155,700.00. Following the completion of the transaction, the director now owns 75,861 shares of the company’s stock, valued at approximately $1,181,155.77. This represents a 15.18 % increase in their ownership of the stock. The purchase was disclosed in a document filed with the SEC, which is accessible through the SEC website. Corporate insiders own 0.65% of the company’s stock.

Institutional Trading of Fluence Energy

Several institutional investors and hedge funds have recently made changes to their positions in the business. Handelsbanken Fonder AB raised its holdings in Fluence Energy by 47.3% in the third 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 boosted its position in Fluence Energy by 9.0% in the third quarter. FMR LLC now owns 1,606,100 shares of the company’s stock valued at $36,475,000 after buying an additional 132,868 shares during the last quarter. Geode Capital Management LLC boosted its position in Fluence Energy by 4.2% in the third quarter. Geode Capital Management LLC now owns 1,508,003 shares of the company’s stock valued at $34,253,000 after buying an additional 60,633 shares during the last quarter. Erste Asset Management GmbH purchased a new stake in Fluence Energy in the third quarter valued at approximately $22,059,000. Finally, Point72 Asset Management L.P. purchased a new stake in Fluence Energy in the third quarter valued at approximately $21,809,000. 53.16% of the stock is currently owned by institutional investors.

Wall Street Analysts Forecast Growth

A number of equities analysts have recently weighed in on the stock. Canaccord Genuity Group reduced their price target on shares of Fluence Energy from $37.00 to $34.00 and set a “buy” rating on the stock in a research report on Friday, November 29th. BMO Capital Markets raised their price objective on shares of Fluence Energy from $24.00 to $25.00 and gave the stock an “outperform” rating in a report on Monday, October 14th. Bank of America dropped their price objective on shares of Fluence Energy from $25.00 to $20.00 and set a “buy” rating on the stock in a report on Tuesday, January 28th. Royal Bank of Canada dropped their price objective on shares of Fluence Energy from $28.00 to $27.00 and set an “outperform” rating on the stock in a report on Wednesday, November 27th. Finally, Truist Financial raised their price objective on shares of Fluence Energy from $25.00 to $28.00 and gave the stock a “buy” rating in a report on Wednesday, October 16th. Eight equities research analysts have rated the stock with a hold rating and thirteen have assigned a buy rating to the company. According to MarketBeat, the stock presently has an average rating of “Moderate Buy” and a consensus target price of $25.60.

Fluence Energy Stock Down 4.1 %

NASDAQ FLNC opened at $12.48 on Tuesday. The company has a fifty day moving average of $16.08 and a two-hundred day moving average of $18.34. The firm has a market capitalization of $2.26 billion, a price-to-earnings ratio of 96.00, a PEG ratio of 0.51 and a beta of 2.37. Fluence Energy has a 52 week low of $12.43 and a 52 week high of $26.12.

Fluence Energy (NASDAQ:FLNC) last released 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 during the quarter, compared to the consensus estimate of $1.28 billion. During the same period last year, the company earned $0.02 earnings per share. The business’s revenue for the quarter was up 82.5% compared to the same quarter last year. Equities research analysts anticipate that Fluence Energy will post 0.48 EPS for the current 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.