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

Fluence Energy, Inc. (NASDAQ:FLNC) was the target of a significant decrease in short interest in the month of June. As of June 30th, there was short interest totalling 9,130,000 shares, a decrease of 12.6% from the June 15th total of 10,450,000 shares. Based on an average trading volume of 2,450,000 shares, the days-to-cover ratio is currently 3.7 days.

Fluence Energy Stock Performance

Shares of FLNC stock traded down $0.60 on Wednesday, hitting $17.01. 2,057,968 shares of the stock traded hands, compared to its average volume of 2,465,721. The firm’s 50-day moving average price is $19.89 and its two-hundred day moving average price is $18.69. The stock has a market capitalization of $3.05 billion, a PE ratio of -43.26 and a beta of 2.50. Fluence Energy has a twelve month low of $13.03 and a twelve month high of $31.32.

Fluence Energy (NASDAQ:FLNC) last announced its quarterly earnings results 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 net margin of 2.10% and a negative return on equity of 8.48%. The firm had revenue of $623.14 million for the quarter, compared to analysts’ expectations of $538.42 million. During the same quarter in the previous year, the company posted ($0.21) EPS. The company’s revenue was down 10.7% compared to the same quarter last year. On average, equities research analysts anticipate that Fluence Energy will post 0.11 EPS for the current fiscal year.

Institutional Inflows and Outflows

Large investors have recently bought and sold shares of the stock. Quarry LP acquired a new position in Fluence Energy in the fourth quarter valued at about $38,000. Pflug Koory LLC acquired a new position in Fluence Energy in the first quarter valued at about $35,000. Baillie Gifford & Co. acquired a new position in Fluence Energy in the first quarter valued at about $38,000. Quest Partners LLC purchased a new stake in Fluence Energy during the fourth quarter worth about $60,000. Finally, National Bank of Canada FI increased its stake in 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 during the period. Institutional investors and hedge funds own 53.16% of the company’s stock.

Analyst Ratings Changes

FLNC has been the topic of several recent analyst reports. Evercore ISI reduced their target price on shares of Fluence Energy from $59.00 to $47.00 and set an “outperform” rating on the stock in a research note on Monday, May 13th. Royal Bank of Canada reissued an “outperform” rating and issued a $29.00 target price on shares of Fluence Energy in a research note on Friday, June 14th. Morgan Stanley reduced their target price on shares of Fluence Energy from $32.00 to $30.00 and set an “equal weight” rating on the stock in a research note on Friday, May 10th. Raymond James raised shares of Fluence Energy from a “market perform” rating to an “outperform” rating and set a $22.00 target price on the stock in a research note on Wednesday, April 3rd. Finally, JPMorgan Chase & Co. raised their price target on shares of Fluence Energy from $25.00 to $28.00 and gave the stock an “overweight” rating in a research note on Tuesday. One equities research analyst has rated the stock with a sell rating, four have given a hold rating and fourteen have assigned a buy rating to the company. Based on data from MarketBeat, Fluence Energy presently has a consensus rating of “Moderate Buy” and an average target price of $28.22.

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.