Fluence Energy (NASDAQ:FLNC) Shares Up 10.1% on Analyst Upgrade

Shares of Fluence Energy, Inc. (NASDAQ:FLNC) traded up 10.1% during trading on Tuesday after UBS Group raised their price target on the stock from $4.50 to $6.00. UBS Group currently has a neutral rating on the stock. Fluence Energy traded as high as $6.53 and last traded at $6.27. 1,477,075 shares changed hands during mid-day trading, a decline of 74% from the average session volume of 5,624,254 shares. The stock had previously closed at $5.69.

Several other equities research analysts also recently issued reports on the company. Robert W. Baird cut their price target on Fluence Energy from $9.00 to $5.00 and set a “neutral” rating for the company in a report on Tuesday, April 15th. Guggenheim lowered their price objective on Fluence Energy from $6.00 to $2.00 and set a “sell” rating on the stock in a research report on Tuesday, April 15th. The Goldman Sachs Group reduced their target price on shares of Fluence Energy from $9.00 to $8.00 and set a “buy” rating for the company in a research report on Friday, May 9th. HSBC lowered shares of Fluence Energy from a “buy” rating to a “hold” rating and set a $4.00 price target on the stock. in a research report on Monday, April 28th. Finally, Roth Mkm downgraded shares of Fluence Energy from a “buy” rating to a “neutral” rating and cut their price objective for the company from $20.00 to $6.50 in a report on Wednesday, February 12th. One investment analyst has rated the stock with a sell rating, nineteen have assigned a hold rating and five have given a buy rating to the stock. According to data from MarketBeat.com, the company has a consensus rating of “Hold” and a consensus price target of $8.74.

Insider Buying and Selling at Fluence Energy

In other news, CEO Julian Nebreda bought 23,500 shares of Fluence Energy stock in a transaction dated Thursday, February 13th. The stock was bought at an average cost of $6.35 per share, for a total transaction of $149,225.00. Following the purchase, the chief executive officer now directly owns 120,455 shares in the company, valued at approximately $764,889.25. This represents a 24.24% increase in their position. The purchase was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, Director Herman E. Bulls bought 30,000 shares of the stock in a transaction dated Thursday, February 13th. The stock was purchased at an average price of $6.53 per share, with a total value of $195,900.00. Following the acquisition, the director now owns 105,861 shares of the company’s stock, valued at $691,272.33. The trade was a 39.55% increase in their ownership of the stock. The disclosure for this purchase can be found here. In the last quarter, insiders have acquired 79,000 shares of company stock valued at $499,665. 0.65% of the stock is currently owned by corporate insiders.

Hedge Funds Weigh In On Fluence Energy

A number of large investors have recently made changes to their positions in the stock. CenterBook Partners LP bought a new position in Fluence Energy in the first quarter valued at about $12,458,000. Zimmer Partners LP raised its stake in Fluence Energy by 757.7% during the 4th quarter. Zimmer Partners LP now owns 2,144,301 shares of the company’s stock valued at $34,052,000 after purchasing an additional 1,894,301 shares during the period. Webs Creek Capital Management LP bought a new stake in Fluence Energy in the 4th quarter valued at $15,118,000. Edgestream Partners L.P. bought a new stake in shares of Fluence Energy in the first quarter worth about $4,180,000. Finally, Covalis Capital LLP purchased a new stake in shares of Fluence Energy during the 4th quarter worth approximately $12,113,000. 53.16% of the stock is owned by institutional investors.

Fluence Energy Stock Up 1.6%

The company’s 50-day simple moving average is $4.59 and its 200 day simple moving average is $11.52. The company has a debt-to-equity ratio of 0.74, a current ratio of 1.57 and a quick ratio of 1.14. The firm has a market cap of $1.05 billion, a P/E ratio of -115.60 and a beta of 2.49.

Fluence Energy (NASDAQ:FLNC) last released its earnings results on Wednesday, May 7th. The company reported ($0.24) earnings per share for the quarter, missing analysts’ consensus estimates of ($0.21) by ($0.03). The business had revenue of $431.62 million during the quarter, compared to analysts’ expectations of $328.17 million. Fluence Energy had a negative return on equity of 0.36% and a negative net margin of 0.08%. The business’s revenue for the quarter was down 30.7% on a year-over-year basis. During the same quarter in the previous year, the business earned ($0.07) EPS. Research analysts anticipate that Fluence Energy, Inc. will post 0.08 EPS for the current fiscal year.

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.