Fluence Energy (NASDAQ:FLNC) Trading 6.7% Higher – Should You Buy?

Shares of Fluence Energy, Inc. (NASDAQ:FLNC) were up 6.7% on Friday . The company traded as high as $7.87 and last traded at $8.08. Approximately 687,896 shares were traded during trading, a decline of 87% from the average daily volume of 5,250,617 shares. The stock had previously closed at $7.57.

Wall Street Analysts Forecast Growth

FLNC has been the subject of several research reports. UBS Group increased their target price on Fluence Energy from $4.50 to $6.00 and gave the stock a “neutral” rating in a research report on Tuesday, May 13th. Jefferies Financial Group reiterated an “underperform” rating and issued a $6.00 price objective on shares of Fluence Energy in a report on Friday, July 11th. Piper Sandler lowered their price objective on Fluence Energy from $10.00 to $4.00 and set a “neutral” rating for the company in a research report on Monday, April 21st. HSBC downgraded shares of Fluence Energy from a “hold” rating to a “reduce” rating and set a $5.00 target price on the stock. in a research report on Wednesday. Finally, Susquehanna lifted their price target on shares of Fluence Energy from $6.00 to $11.00 and gave the company a “positive” rating in a research report on Monday, July 21st. Three research analysts have rated the stock with a sell rating, seventeen have given a hold rating and four have assigned a buy rating to the company’s stock. According to data from MarketBeat, Fluence Energy presently has a consensus rating of “Hold” and an average price target of $7.98.

Fluence Energy Stock Up 5.0%

The company has a current ratio of 1.64, a quick ratio of 0.99 and a debt-to-equity ratio of 0.75. The company’s 50 day simple moving average is $7.54 and its 200-day simple moving average is $6.32. The firm has a market cap of $1.44 billion, a P/E ratio of -37.86 and a beta of 2.67.

Fluence Energy (NASDAQ:FLNC) last announced its earnings results on Monday, August 11th. The company reported $0.01 earnings per share (EPS) for the quarter, topping the consensus estimate of ($0.02) by $0.03. Fluence Energy had a negative return on equity of 3.42% and a negative net margin of 0.76%. The business had revenue of $602.53 million for the quarter, compared to analysts’ expectations of $738.52 million. Fluence Energy’s revenue was up 24.7% compared to the same quarter last year. Research analysts forecast that Fluence Energy, Inc. will post 0.08 earnings per share for the current fiscal year.

Institutional Trading of Fluence Energy

Hedge funds have recently bought and sold shares of the stock. Parallel Advisors LLC purchased a new position in shares of Fluence Energy in the second quarter valued at about $30,000. SBI Securities Co. Ltd. increased its position in Fluence Energy by 462.6% in the first quarter. SBI Securities Co. Ltd. now owns 8,085 shares of the company’s stock worth $39,000 after purchasing an additional 6,648 shares during the last quarter. Ameritas Investment Partners Inc. raised its position in shares of Fluence Energy by 25.7% during the 2nd quarter. Ameritas Investment Partners Inc. now owns 7,753 shares of the company’s stock valued at $52,000 after buying an additional 1,586 shares in the last quarter. TFB Advisors LLC bought a new stake in shares of Fluence Energy in the 1st quarter valued at approximately $53,000. Finally, Voleon Capital Management LP purchased a new position in Fluence Energy during the first quarter worth $55,000. Institutional investors own 53.16% of the company’s stock.

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.