Short Interest in Fluence Energy, Inc. (NASDAQ:FLNC) Decreases By 6.7%

Fluence Energy, Inc. (NASDAQ:FLNC) was the recipient of a significant decline in short interest during the month of May. As of May 31st, there was short interest totalling 11,820,000 shares, a decline of 6.7% from the May 15th total of 12,670,000 shares. Based on an average daily volume of 2,260,000 shares, the days-to-cover ratio is presently 5.2 days.

Fluence Energy Stock Up 0.4 %

FLNC opened at $20.26 on Wednesday. The stock’s fifty day moving average is $19.67 and its two-hundred day moving average is $19.60. The company has a market capitalization of $3.63 billion, a P/E ratio of -51.95 and a beta of 2.63. Fluence Energy has a 52 week low of $13.03 and a 52 week high of $31.32.

Fluence Energy (NASDAQ:FLNC) last released its quarterly earnings data on Wednesday, May 8th. The company reported ($0.07) earnings per share for the quarter, meeting the consensus estimate of ($0.07). Fluence Energy had a negative return on equity of 8.48% and a negative net margin of 2.10%. The firm had revenue of $623.14 million during the quarter, compared to the consensus estimate of $538.42 million. During the same period in the previous year, the company posted ($0.21) earnings per share. The firm’s quarterly revenue was down 10.7% on a year-over-year basis. Equities analysts anticipate that Fluence Energy will post 0.11 earnings per share for the current year.

Institutional Inflows and Outflows

Several large investors have recently made changes to their positions in FLNC. Pflug Koory LLC purchased a new position in Fluence Energy in the first quarter valued at about $35,000. Quarry LP purchased a new stake in Fluence Energy during the fourth quarter valued at approximately $38,000. Baillie Gifford & Co. acquired a new stake in Fluence Energy in the first quarter valued at approximately $38,000. Quest Partners LLC purchased a new position in Fluence Energy in the fourth quarter worth $60,000. Finally, National Bank of Canada FI increased its position in shares of Fluence Energy by 116.3% during the fourth quarter. National Bank of Canada FI now owns 2,595 shares of the company’s stock worth $62,000 after purchasing an additional 1,395 shares in the last quarter. 53.16% of the stock is owned by institutional investors.

Analyst Upgrades and Downgrades

FLNC has been the subject of a number of research reports. Morgan Stanley dropped their price target on Fluence Energy from $32.00 to $30.00 and set an “equal weight” rating for the company in a research note on Friday, May 10th. Roth Mkm reissued a “buy” rating and issued a $27.00 target price (down from $31.00) on shares of Fluence Energy in a report on Friday, May 10th. Susquehanna upgraded shares of Fluence Energy from a “neutral” rating to a “positive” rating and set a $24.00 target price on the stock in a report on Monday, February 26th. Piper Sandler lowered their price target on shares of Fluence Energy from $20.00 to $18.00 and set a “neutral” rating for the company in a report on Friday, May 10th. Finally, Royal Bank of Canada restated an “outperform” rating and issued a $29.00 price target on shares of Fluence Energy in a research report on Friday, June 14th. One investment analyst has rated the stock with a sell rating, three have assigned a hold rating and fourteen have issued a buy rating to the stock. According to MarketBeat, Fluence Energy has an average rating of “Moderate Buy” and an average price target of $28.76.

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.