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

Fluence Energy, Inc. (NASDAQ:FLNC) was the target of a large increase in short interest in December. As of December 15th, there was short interest totalling 14,360,000 shares, an increase of 48.8% from the November 30th total of 9,650,000 shares. Based on an average daily trading volume, of 2,510,000 shares, the short-interest ratio is currently 5.7 days.

Insider Activity at Fluence Energy

In other Fluence Energy news, Director Herman E. Bulls bought 10,000 shares of the stock in a transaction that occurred on Monday, December 23rd. The stock was acquired at an average cost of $15.57 per share, with a total value of $155,700.00. Following the purchase, the director now owns 75,861 shares in the company, valued at $1,181,155.77. This trade represents a 15.18 % increase in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this link. 0.41% of the stock is owned by corporate insiders.

Institutional Inflows and Outflows

Institutional investors have recently modified their holdings of the stock. Handelsbanken Fonder AB grew its position in Fluence Energy by 47.3% in the 3rd quarter. Handelsbanken Fonder AB now owns 6,376,024 shares of the company’s stock valued at $144,800,000 after purchasing an additional 2,047,063 shares during the period. Erste Asset Management GmbH acquired a new position in shares of Fluence Energy during the third quarter valued at about $22,059,000. Point72 Asset Management L.P. bought a new stake in shares of Fluence Energy during the third quarter worth about $21,809,000. Principal Financial Group Inc. acquired a new stake in shares of Fluence Energy in the 3rd quarter worth about $5,742,000. Finally, Zimmer Partners LP bought a new position in Fluence Energy in the 3rd quarter valued at about $5,678,000. Institutional investors and hedge funds own 53.16% of the company’s stock.

Fluence Energy Stock Performance

Shares of NASDAQ:FLNC traded up $0.44 during trading on Friday, reaching $16.24. The stock had a trading volume of 2,096,834 shares, compared to its average volume of 2,364,161. Fluence Energy has a 52 week low of $12.74 and a 52 week high of $26.12. The firm’s fifty day moving average is $19.09 and its 200 day moving average is $18.94. The stock has a market cap of $2.94 billion, a price-to-earnings ratio of 124.92, a P/E/G ratio of 0.54 and a beta of 2.39.

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

Wall Street Analysts Forecast Growth

FLNC has been the topic of a number of research reports. Guggenheim reissued a “buy” rating and issued a $26.00 price objective on shares of Fluence Energy in a research report on Friday, December 6th. Piper Sandler raised their price objective on Fluence Energy from $18.00 to $20.00 and gave the company a “neutral” rating in a report on Wednesday, November 27th. Truist Financial upped their target price on Fluence Energy from $25.00 to $28.00 and gave the stock a “buy” rating in a report on Wednesday, October 16th. Canaccord Genuity Group lowered their price target on Fluence Energy from $37.00 to $34.00 and set a “buy” rating on the stock in a research report on Friday, November 29th. Finally, Jefferies Financial Group assumed coverage on Fluence Energy in a report on Wednesday, September 4th. They issued a “buy” rating and a $26.00 price objective for the company. Seven research analysts have rated the stock with a hold rating and fourteen have given a buy rating to the company. Based on data from MarketBeat, the company has a consensus rating of “Moderate Buy” and a consensus target price of $26.65.

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.