Fluence Energy (NASDAQ:FLNC) Shares Gap Up After Analyst Upgrade

Fluence Energy, Inc. (NASDAQ:FLNC) gapped up prior to trading on Wednesday after Citigroup upgraded the stock from a neutral rating to a buy rating. The stock had previously closed at $15.28, but opened at $15.87. Citigroup now has a $24.00 price target on the stock, down from their previous price target of $26.00. Fluence Energy shares last traded at $15.2490, with a volume of 2,460,341 shares trading hands.

A number of other brokerages also recently commented on FLNC. BMO Capital Markets reaffirmed a “market perform” rating and set a $15.00 price target on shares of Fluence Energy in a research report on Wednesday, April 29th. Canaccord Genuity Group set a $28.00 target price on Fluence Energy in a research report on Friday, May 8th. UBS Group raised their target price on Fluence Energy from $8.00 to $9.00 and gave the company a “sell” rating in a research report on Monday, May 11th. HSBC raised shares of Fluence Energy from a “reduce” rating to a “hold” rating and set a $19.00 price target on the stock in a report on Friday, May 8th. Finally, Wall Street Zen lowered shares of Fluence Energy from a “hold” rating to a “sell” rating in a research report on Saturday, May 9th. One investment analyst has rated the stock with a Strong Buy rating, seven have assigned a Buy rating, eleven have assigned a Hold rating and four have issued a Sell rating to the company. Based on data from MarketBeat.com, Fluence Energy currently has an average rating of “Hold” and an average price target of $19.53.

Insider Activity

In related news, major shareholder Qatar Investment Authority sold 2,867,172 shares of the business’s stock in a transaction on Friday, May 15th. The stock was sold at an average price of $21.00, for a total transaction of $60,210,612.00. Following the sale, the insider directly owned 11,801,103 shares in the company, valued at approximately $247,823,163. The trade was a 19.55% decrease in their position. The transaction was disclosed in a document filed with the SEC, which can be accessed through this hyperlink. Also, SVP John Zahurancik sold 16,000 shares of the company’s stock in a transaction dated Monday, June 22nd. The stock was sold at an average price of $25.18, for a total value of $402,880.00. Following the completion of the transaction, the senior vice president owned 87,145 shares in the company, valued at $2,194,311.10. This represents a 15.51% decrease in their ownership of the stock. Additional details regarding this sale are available in the official SEC disclosure. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Over the last three months, insiders sold 2,904,146 shares of company stock worth $61,090,399. 0.69% of the stock is owned by corporate insiders.

Institutional Trading of Fluence Energy

Several hedge funds have recently added to or reduced their stakes in the business. Goldman Sachs Group Inc. increased its position in Fluence Energy by 189.7% during the 1st quarter. Goldman Sachs Group Inc. now owns 3,171,146 shares of the company’s stock valued at $15,380,000 after purchasing an additional 2,076,668 shares during the period. Bank of America Corp DE raised its holdings in Fluence Energy by 24.4% in the 1st quarter. Bank of America Corp DE now owns 3,085,730 shares of the company’s stock worth $42,460,000 after purchasing an additional 604,983 shares in the last quarter. Price T Rowe Associates Inc. MD lifted its position in shares of Fluence Energy by 5,489.8% in the 4th quarter. Price T Rowe Associates Inc. MD now owns 3,045,780 shares of the company’s stock worth $60,247,000 after purchasing an additional 2,991,292 shares during the period. UBS Group AG lifted its position in shares of Fluence Energy by 65.2% in the 4th quarter. UBS Group AG now owns 2,625,878 shares of the company’s stock worth $51,940,000 after purchasing an additional 1,036,423 shares during the period. Finally, Millennium Management LLC boosted its stake in shares of Fluence Energy by 11.3% during the 3rd quarter. Millennium Management LLC now owns 2,232,750 shares of the company’s stock valued at $24,114,000 after purchasing an additional 227,080 shares in the last quarter. 53.16% of the stock is owned by institutional investors.

Fluence Energy Price Performance

The company has a current ratio of 1.43, a quick ratio of 0.91 and a debt-to-equity ratio of 0.85. The business’s 50 day moving average price is $20.06 and its two-hundred day moving average price is $19.03. The stock has a market cap of $2.66 billion, a P/E ratio of -40.05 and a beta of 2.75.

Fluence Energy (NASDAQ:FLNC) last announced its quarterly earnings data on Wednesday, May 6th. The company reported ($0.16) EPS for the quarter, beating the consensus estimate of ($0.18) by $0.02. Fluence Energy had a negative return on equity of 8.29% and a negative net margin of 1.62%.The business had revenue of $464.89 million during the quarter, compared to analyst estimates of $614.93 million. During the same quarter last year, the firm posted ($0.24) earnings per share. The company’s revenue for the quarter was up 7.7% on a year-over-year basis. As a group, sell-side analysts expect that Fluence Energy, Inc. will post -0.18 earnings per share for the current fiscal year.

About Fluence Energy

Fluence Energy is a leading global provider of energy storage products and services, specializing in the deployment of advanced battery systems to support grid stability and renewable integration. The company develops, engineers and delivers turnkey energy storage solutions designed to optimize the reliability, efficiency and economic performance of power networks. By combining hardware, software and lifecycle services, Fluence addresses the growing need for flexible energy assets in an evolving electricity landscape.

The company’s core offerings include modular energy storage platforms that pair lithium-ion battery technology with control and optimization software.