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

Fluence Energy, Inc. (NASDAQ:FLNC) was the recipient of a large growth in short interest during 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 daily volume of 2,600,000 shares, the short-interest ratio is currently 6.0 days.

Fluence Energy Stock Performance

Shares of NASDAQ FLNC opened at $12.48 on Tuesday. Fluence Energy has a 1 year low of $12.43 and a 1 year high of $26.12. The company has a market capitalization of $2.26 billion, a PE ratio of 96.00, a price-to-earnings-growth ratio of 0.51 and a beta of 2.37. The company’s fifty day moving average price is $16.08 and its 200 day moving average price is $18.34.

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, beating analysts’ consensus estimates of $0.23 by $0.11. The business 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 business’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 earnings per share. On average, equities analysts expect that Fluence Energy will post 0.48 EPS for the current year.

Analyst Upgrades and Downgrades

A number of analysts have commented on the stock. Truist Financial boosted their price target 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. Robert W. Baird restated a “neutral” rating and issued a $20.00 target price (down from $24.00) on shares of Fluence Energy in a research report on Wednesday, December 18th. Jefferies Financial Group lowered Fluence Energy from a “buy” rating to a “hold” rating and cut their price objective for the company from $22.00 to $15.00 in a report on Wednesday, January 22nd. Susquehanna lifted their target price on Fluence Energy from $23.00 to $28.00 and gave the stock a “positive” rating in a report on Wednesday, October 16th. Finally, Bank of America cut their price target on shares of Fluence Energy from $25.00 to $20.00 and set a “buy” rating for the company in a report on Tuesday, January 28th. Eight research analysts have rated the stock with a hold rating and thirteen have issued a buy rating to the stock. According to data from MarketBeat.com, the stock presently has an average rating of “Moderate Buy” and a consensus price target of $25.60.

Insider Activity at Fluence Energy

In other Fluence Energy news, Director Herman E. Bulls purchased 10,000 shares of the firm’s stock in a transaction on Monday, December 23rd. The shares were purchased 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 approximately $1,181,155.77. This represents a 15.18 % increase in their ownership of the stock. The transaction was disclosed in a filing with the SEC, which is available at this link. 0.65% of the stock is owned by insiders.

Institutional Investors Weigh In On Fluence Energy

Several hedge funds have recently modified their holdings of the company. US Bancorp DE lifted its position in Fluence Energy by 676.6% in the third quarter. US Bancorp DE now owns 1,693 shares of the company’s stock worth $38,000 after purchasing an additional 1,475 shares during the period. CWM LLC grew its holdings in shares of Fluence Energy by 164.4% during the 3rd quarter. CWM LLC now owns 2,842 shares of the company’s stock worth $65,000 after purchasing an additional 1,767 shares in the last quarter. Point72 DIFC Ltd bought a new stake in Fluence Energy in the third quarter valued at $74,000. Householder Group Estate & Retirement Specialist LLC bought a new stake in shares of Fluence Energy during the fourth quarter worth $79,000. Finally, Point72 Asia Singapore Pte. Ltd. acquired a new position in Fluence Energy during the 3rd quarter worth $87,000. 53.16% of the stock is owned by institutional investors and hedge funds.

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.