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

Fluence Energy, Inc. (NASDAQ:FLNC) was the recipient of a significant increase in short interest in December. As of December 31st, there was short interest totalling 15,640,000 shares, an increase 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 short-interest ratio is currently 6.0 days.

Insider Transactions at Fluence Energy

In other Fluence Energy news, Director Herman E. Bulls bought 10,000 shares of the firm’s stock in a transaction on Monday, December 23rd. The shares were acquired at an average cost of $15.57 per share, with a total value of $155,700.00. Following the purchase, 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 through this hyperlink. Insiders own 0.41% of the company’s stock.

Institutional Inflows and Outflows

Several institutional investors and hedge funds have recently added to or reduced their stakes in FLNC. Handelsbanken Fonder AB lifted its position in shares of 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. Erste Asset Management GmbH purchased a new stake in Fluence Energy during the 3rd quarter worth about $22,059,000. Point72 Asset Management L.P. purchased a new stake in Fluence Energy during the 3rd quarter worth about $21,809,000. Principal Financial Group Inc. purchased a new position in shares of Fluence Energy in the 3rd quarter valued at about $5,742,000. Finally, Zimmer Partners LP acquired a new stake in shares of Fluence Energy during the 3rd quarter worth about $5,678,000. Institutional investors and hedge funds own 53.16% of the company’s stock.

Analysts Set New Price Targets

A number of equities analysts recently commented on the company. Piper Sandler lifted their price objective on Fluence Energy from $18.00 to $20.00 and gave the stock a “neutral” rating in a research report on Wednesday, November 27th. Truist Financial boosted their price target on shares of Fluence Energy from $25.00 to $28.00 and gave the company a “buy” rating in a research report on Wednesday, October 16th. Susquehanna raised their price objective on shares of Fluence Energy from $23.00 to $28.00 and gave the stock a “positive” rating in a research report on Wednesday, October 16th. Bank of America dropped their price target on shares of Fluence Energy from $25.00 to $24.00 and set a “buy” rating for the company in a research note on Thursday, November 7th. Finally, Guggenheim reaffirmed a “buy” rating and set a $26.00 price target on shares of Fluence Energy in a research report on Friday, December 6th. Seven research analysts have rated the stock with a hold rating and fourteen have given a buy rating to the company’s stock. Based on data from MarketBeat, the company has an average rating of “Moderate Buy” and a consensus price target of $26.65.

Fluence Energy Trading Down 7.3 %

Fluence Energy stock opened at $14.44 on Monday. The firm has a market capitalization of $2.62 billion, a P/E ratio of 111.08, a P/E/G ratio of 0.53 and a beta of 2.42. The stock’s fifty day simple moving average is $17.76 and its 200-day simple moving average is $18.62. Fluence Energy has a twelve month low of $12.74 and a twelve month high of $26.12.

Fluence Energy (NASDAQ:FLNC) last posted its quarterly earnings results 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 analyst estimates of $1.28 billion. During the same quarter last year, the company earned $0.02 EPS. Fluence Energy’s revenue for the quarter was up 82.5% compared to the same quarter last year. Sell-side analysts predict that Fluence Energy will post 0.55 earnings per share for the current year.

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.