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

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

Wall Street Analysts Forecast Growth

A number of equities research analysts recently issued reports on FLNC shares. Canaccord Genuity Group decreased their price target on Fluence Energy from $37.00 to $34.00 and set a “buy” rating for the company in a research note on Friday, November 29th. Truist Financial raised their target price on shares of Fluence Energy from $25.00 to $28.00 and gave the stock a “buy” rating in a research report on Wednesday, October 16th. Citigroup lowered Fluence Energy from a “buy” rating to a “neutral” rating and lowered their price target for the company from $32.00 to $24.00 in a report on Tuesday, October 1st. BMO Capital Markets raised their price objective on Fluence Energy from $24.00 to $25.00 and gave the stock an “outperform” rating in a report on Monday, October 14th. Finally, Royal Bank of Canada lowered their target price on Fluence Energy from $28.00 to $27.00 and set an “outperform” rating for the company in a report on Wednesday, November 27th. Seven research analysts have rated the stock with a hold rating and fourteen have assigned a buy rating to the company’s stock. According to data from MarketBeat, the stock presently has an average rating of “Moderate Buy” and an average price target of $26.65.

Fluence Energy Stock Performance

Fluence Energy stock opened at $14.44 on Monday. Fluence Energy has a one year low of $12.74 and a one year high of $26.12. The stock has a market cap of $2.62 billion, a PE ratio of 111.08, a price-to-earnings-growth ratio of 0.53 and a beta of 2.42. The stock has a 50-day moving average of $17.76 and a two-hundred day moving average of $18.62.

Fluence Energy (NASDAQ:FLNC) last released its earnings results on Monday, November 25th. The company reported $0.34 EPS for the quarter, topping analysts’ consensus estimates of $0.23 by $0.11. The company 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%. Fluence Energy’s revenue for the quarter was up 82.5% on a year-over-year basis. During the same period last year, the business earned $0.02 EPS. As a group, sell-side analysts predict that Fluence Energy will post 0.55 EPS for the current fiscal year.

Insiders Place Their Bets

In other news, Director Herman E. Bulls acquired 10,000 shares of Fluence Energy stock in a transaction that occurred on Monday, December 23rd. The shares were bought at an average cost of $15.57 per share, with a total value of $155,700.00. Following the transaction, the director now directly owns 75,861 shares of the company’s stock, valued at $1,181,155.77. This trade represents a 15.18 % increase in their position. The acquisition was disclosed in a filing with the SEC, which is available at this link. 0.41% of the stock is owned by insiders.

Institutional Investors Weigh In On Fluence Energy

A number of large investors have recently bought and sold shares of FLNC. Hsbc Holdings PLC boosted its holdings in shares of Fluence Energy by 3.8% in the 2nd quarter. Hsbc Holdings PLC now owns 24,250 shares of the company’s stock valued at $420,000 after acquiring an additional 897 shares during the last quarter. US Bancorp DE boosted its holdings in Fluence Energy by 676.6% in the third quarter. US Bancorp DE now owns 1,693 shares of the company’s stock valued at $38,000 after purchasing an additional 1,475 shares during the last quarter. Blue Trust Inc. grew its position in Fluence Energy by 45.3% during the 3rd quarter. Blue Trust Inc. now owns 4,821 shares of the company’s stock worth $109,000 after purchasing an additional 1,502 shares during the period. CWM LLC raised its stake in shares of Fluence Energy by 164.4% during the 3rd quarter. CWM LLC now owns 2,842 shares of the company’s stock valued at $65,000 after buying an additional 1,767 shares during the last quarter. Finally, ProShare Advisors LLC lifted its holdings in shares of Fluence Energy by 17.0% in the 2nd quarter. ProShare Advisors LLC now owns 12,328 shares of the company’s stock valued at $214,000 after buying an additional 1,789 shares during the period. Hedge funds and other 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.