Fluence Energy, Inc. (NASDAQ:FLNC) Short Interest Update

Fluence Energy, Inc. (NASDAQ:FLNC) was the recipient of a significant increase in short interest in the month of 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 trading volume of 2,510,000 shares, the days-to-cover ratio is currently 5.7 days.

Insider Buying and Selling

In related news, Director Herman E. Bulls bought 10,000 shares of the business’s stock in a transaction on Monday, December 23rd. The shares were bought at an average cost of $15.57 per share, for a total transaction of $155,700.00. Following the completion of the purchase, the director now owns 75,861 shares of the company’s stock, valued at $1,181,155.77. This represents a 15.18 % increase in their position. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through the SEC website. 0.41% of the stock is owned by company insiders.

Hedge Funds Weigh In On Fluence Energy

A number of institutional investors and hedge funds have recently bought and sold shares of the business. Handelsbanken Fonder AB lifted its position in 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 buying an additional 2,047,063 shares in the last quarter. Erste Asset Management GmbH bought a new stake in shares of Fluence Energy during the third quarter worth $22,059,000. Point72 Asset Management L.P. acquired a new position in shares of Fluence Energy during the third quarter valued at $21,809,000. Principal Financial Group Inc. acquired a new stake in Fluence Energy in the third quarter worth about $5,742,000. Finally, Zimmer Partners LP bought a new stake in Fluence Energy during the 3rd quarter worth about $5,678,000. Institutional investors and hedge funds own 53.16% of the company’s stock.

Fluence Energy Trading Down 0.4 %

FLNC stock traded down $0.07 during trading on Monday, hitting $16.17. The company had a trading volume of 184,967 shares, compared to its average volume of 2,355,147. The company has a fifty day moving average price of $19.09 and a two-hundred day moving average price of $18.89. Fluence Energy has a fifty-two week low of $12.74 and a fifty-two week high of $26.12. The company has a market cap of $2.93 billion, a P/E ratio of 124.38, a P/E/G ratio of 0.54 and a beta of 2.39.

Fluence Energy (NASDAQ:FLNC) last issued its earnings results on Monday, November 25th. The company reported $0.34 EPS for the quarter, beating the consensus estimate of $0.23 by $0.11. The company had revenue of $1.23 billion for the quarter, compared to the consensus estimate 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 for the quarter was up 82.5% compared to the same quarter last year. During the same quarter in the previous year, the company earned $0.02 EPS. On average, analysts expect that Fluence Energy will post 0.56 earnings per share for the current year.

Analyst Upgrades and Downgrades

Several analysts have recently weighed in on the company. Bank of America cut their price objective on Fluence Energy from $25.00 to $24.00 and set a “buy” rating for the company in a report on Thursday, November 7th. Susquehanna raised their target price on shares of Fluence Energy from $23.00 to $28.00 and gave the stock a “positive” rating in a report on Wednesday, October 16th. Baird R W downgraded Fluence Energy from a “strong-buy” rating to a “hold” rating in a research report on Wednesday, December 18th. BMO Capital Markets boosted their target price on Fluence Energy from $24.00 to $25.00 and gave the stock an “outperform” rating in a research report on Monday, October 14th. Finally, Robert W. Baird reissued a “neutral” rating and issued a $20.00 price target (down previously from $24.00) on shares of Fluence Energy in a research note on Wednesday, December 18th. Seven investment analysts have rated the stock with a hold rating and fourteen have assigned a buy rating to the company’s stock. According to data from MarketBeat.com, the company currently has a consensus rating of “Moderate Buy” and a consensus target price 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.