Short Interest in Fluence Energy, Inc. (NASDAQ:FLNC) Increases By 48.8%

Fluence Energy, Inc. (NASDAQ:FLNC) was the recipient of a large increase in short interest in December. As of December 15th, there was short interest totalling 14,360,000 shares, an increase of 48.8% from the November 30th total of 9,650,000 shares. Based on an average daily volume of 2,510,000 shares, the short-interest ratio is presently 5.7 days.

Fluence Energy Stock Performance

FLNC stock traded down $0.24 during mid-day trading on Monday, hitting $16.00. 338,835 shares of the company were exchanged, compared to its average volume of 2,355,843. Fluence Energy has a 1-year low of $12.74 and a 1-year high of $26.12. The firm’s 50 day simple moving average is $19.09 and its 200 day simple moving average is $18.89. The firm has a market cap of $2.90 billion, a P/E ratio of 123.08, a P/E/G ratio of 0.54 and a beta of 2.39.

Fluence Energy (NASDAQ:FLNC) last posted its quarterly earnings data on Monday, November 25th. The company reported $0.34 EPS for the quarter, beating the consensus estimate of $0.23 by $0.11. The business had revenue of $1.23 billion for 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 firm’s revenue was up 82.5% compared to the same quarter last year. During the same period in the previous year, the firm posted $0.02 EPS. On average, equities research analysts predict that Fluence Energy will post 0.56 EPS for the current fiscal year.

Insiders Place Their Bets

In other news, Director Herman E. Bulls purchased 10,000 shares of the business’s stock in a transaction dated Monday, December 23rd. The stock was bought 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 approximately $1,181,155.77. This trade represents a 15.18 % increase in their ownership of the stock. The acquisition was disclosed in a legal filing with the SEC, which can be accessed through the SEC website. Corporate insiders own 0.41% of the company’s stock.

Hedge Funds Weigh In On Fluence Energy

Several hedge funds have recently made changes to their positions in FLNC. Handelsbanken Fonder AB grew its position in Fluence Energy by 47.3% in the third quarter. Handelsbanken Fonder AB now owns 6,376,024 shares of the company’s stock valued at $144,800,000 after purchasing an additional 2,047,063 shares in the last quarter. FMR LLC grew its holdings in shares of Fluence Energy by 9.0% in the 3rd quarter. FMR LLC now owns 1,606,100 shares of the company’s stock valued at $36,475,000 after acquiring an additional 132,868 shares in the last quarter. Geode Capital Management LLC increased its position in shares of Fluence Energy by 4.2% in the third quarter. Geode Capital Management LLC now owns 1,508,003 shares of the company’s stock valued at $34,253,000 after acquiring an additional 60,633 shares during the last quarter. Clearbridge Investments LLC raised its holdings in Fluence Energy by 1.6% during the second quarter. Clearbridge Investments LLC now owns 1,500,841 shares of the company’s stock worth $26,025,000 after acquiring an additional 23,927 shares in the last quarter. Finally, Erste Asset Management GmbH acquired a new position in Fluence Energy during the third quarter valued at approximately $22,059,000. 53.16% of the stock is owned by institutional investors.

Analyst Upgrades and Downgrades

FLNC has been the topic of several research analyst reports. BMO Capital Markets raised their price target on Fluence Energy from $24.00 to $25.00 and gave the company an “outperform” rating in a research report on Monday, October 14th. Jefferies Financial Group initiated coverage on Fluence Energy in a research note on Wednesday, September 4th. They issued a “buy” rating and a $26.00 price objective on the stock. Baird R W lowered Fluence Energy from a “strong-buy” rating to a “hold” rating in a research note on Wednesday, December 18th. Robert W. Baird reiterated a “neutral” rating and set a $20.00 price objective (down from $24.00) on shares of Fluence Energy in a research note on Wednesday, December 18th. Finally, Guggenheim restated a “buy” rating and issued a $26.00 target price on shares of Fluence Energy in a research note 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.com, the company presently has an average rating of “Moderate Buy” and an average price target of $26.65.

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.