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

Fluence Energy, Inc. (NASDAQ:FLNC) was the recipient of a large increase in short interest during the month of 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 volume of 2,510,000 shares, the days-to-cover ratio is presently 5.7 days.

Fluence Energy Stock Performance

Fluence Energy stock traded down $0.07 during midday trading on Monday, reaching $16.17. The stock had a trading volume of 184,967 shares, compared to its average volume of 2,355,147. The stock has a market capitalization of $2.93 billion, a PE ratio of 124.38, a price-to-earnings-growth ratio of 0.54 and a beta of 2.39. The stock’s 50-day simple moving average is $19.09 and its 200 day simple moving average is $18.89. Fluence Energy has a twelve month low of $12.74 and a twelve month high of $26.12.

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

Analysts Set New Price Targets

FLNC has been the topic of a number of analyst reports. Baird R W lowered Fluence Energy from a “strong-buy” rating to a “hold” rating in a research report on Wednesday, December 18th. BNP Paribas upgraded shares of Fluence Energy from an “underperform” rating to a “neutral” rating and set a $22.00 price target for the company in a report on Friday, November 8th. Canaccord Genuity Group decreased their price objective on shares of Fluence Energy from $37.00 to $34.00 and set a “buy” rating for the company in a research report on Friday, November 29th. Piper Sandler increased 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. Finally, Robert W. Baird reiterated a “neutral” rating and issued a $20.00 price target (down from $24.00) on shares of Fluence Energy in a research note on Wednesday, December 18th. Seven investment analysts have rated the stock with a hold rating and fourteen have issued a buy rating to the company’s stock. According to MarketBeat.com, the company presently has a consensus rating of “Moderate Buy” and an average price target of $26.65.

Insider Activity at Fluence Energy

In other Fluence Energy news, Director Herman E. Bulls acquired 10,000 shares of the stock in a transaction that occurred on Monday, December 23rd. The stock was bought at an average cost of $15.57 per share, for a total transaction 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. The trade was a 15.18 % increase in their position. The acquisition was disclosed in a legal filing with the Securities & Exchange Commission, which is available at this link. 0.41% of the stock is owned by corporate insiders.

Hedge Funds Weigh In On Fluence Energy

A number of institutional investors and hedge funds have recently added to or reduced their stakes in FLNC. Handelsbanken Fonder AB increased its holdings in Fluence Energy by 47.3% during the 3rd 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 during the last quarter. FMR LLC grew its holdings in Fluence Energy by 9.0% during the 3rd quarter. FMR LLC now owns 1,606,100 shares of the company’s stock worth $36,475,000 after acquiring an additional 132,868 shares in the last quarter. Geode Capital Management LLC raised its stake in shares of Fluence Energy by 4.2% in the 3rd quarter. Geode Capital Management LLC now owns 1,508,003 shares of the company’s stock valued at $34,253,000 after purchasing an additional 60,633 shares in the last quarter. Clearbridge Investments LLC lifted its position in shares of Fluence Energy by 1.6% during the second quarter. Clearbridge Investments LLC now owns 1,500,841 shares of the company’s stock worth $26,025,000 after purchasing an additional 23,927 shares during the last quarter. Finally, Erste Asset Management GmbH bought a new stake in Fluence Energy in the third quarter valued at about $22,059,000. 53.16% of the stock is owned by hedge funds and other institutional investors.

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.