Fluence Energy, Inc. (NASDAQ:FLNC) Sees Significant Increase in Short Interest

Fluence Energy, Inc. (NASDAQ:FLNC) was the target of a significant increase in short interest in December. As of December 31st, there was short interest totalling 15,640,000 shares, an increase of 8.9% from the December 15th total of 14,360,000 shares. Based on an average daily trading volume, of 2,600,000 shares, the days-to-cover ratio is currently 6.0 days.

Fluence Energy Trading Down 7.3 %

NASDAQ:FLNC opened at $14.44 on Tuesday. The stock’s 50 day simple moving average is $17.62 and its 200-day simple moving average is $18.60. Fluence Energy has a 12-month low of $12.74 and a 12-month high of $26.12. The firm has a market cap of $2.62 billion, a P/E ratio of 111.08, a PEG ratio of 0.53 and a beta of 2.42.

Fluence Energy (NASDAQ:FLNC) last announced its quarterly earnings data on Monday, November 25th. The company reported $0.34 earnings per share (EPS) for the quarter, beating the consensus estimate of $0.23 by $0.11. Fluence Energy had a net margin of 0.89% and a return on equity of 4.10%. The company had revenue of $1.23 billion for the quarter, compared to analysts’ expectations of $1.28 billion. During the same period in the previous year, the company posted $0.02 EPS. Fluence Energy’s revenue was up 82.5% compared to the same quarter last year. Research analysts forecast that Fluence Energy will post 0.55 EPS for the current fiscal year.

Wall Street Analyst Weigh In

Several research analysts have recently issued reports on FLNC shares. Susquehanna upped their price objective on Fluence Energy from $23.00 to $28.00 and gave the stock a “positive” rating in a research report on Wednesday, October 16th. Piper Sandler increased their price target on shares of Fluence Energy from $18.00 to $20.00 and gave the company a “neutral” rating in a research note on Wednesday, November 27th. Citigroup downgraded shares of Fluence Energy from a “buy” rating to a “neutral” rating and reduced their price objective for the stock from $32.00 to $24.00 in a research report on Tuesday, October 1st. BMO Capital Markets upped their target price on shares of Fluence Energy from $24.00 to $25.00 and gave the company an “outperform” rating in a report on Monday, October 14th. Finally, Baird R W cut shares of Fluence Energy from a “strong-buy” rating to a “hold” rating in a research report on Wednesday, December 18th. Seven research analysts have rated the stock with a hold rating and fourteen have issued a buy rating to the company’s stock. Based on data from MarketBeat.com, the company currently has an average rating of “Moderate Buy” and a consensus target price of $26.65.

Insider Transactions at Fluence Energy

In other news, Director Herman E. Bulls bought 10,000 shares of the stock in a transaction that occurred on Monday, December 23rd. The stock was purchased at an average price 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 in the company, valued at approximately $1,181,155.77. This trade represents a 15.18 % increase in their position. The purchase was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. Corporate insiders own 0.41% of the company’s stock.

Institutional Inflows and Outflows

Large investors have recently added to or reduced their stakes in the company. US Bancorp DE increased its position in Fluence Energy by 676.6% during the 3rd quarter. US Bancorp DE now owns 1,693 shares of the company’s stock worth $38,000 after purchasing an additional 1,475 shares during the period. CWM LLC grew its holdings in Fluence Energy by 164.4% during the third quarter. CWM LLC now owns 2,842 shares of the company’s stock worth $65,000 after acquiring an additional 1,767 shares during the period. Point72 DIFC Ltd purchased a new position in Fluence Energy in the third quarter worth $74,000. Householder Group Estate & Retirement Specialist LLC acquired a new stake in Fluence Energy in the fourth quarter valued at $79,000. Finally, Point72 Asia Singapore Pte. Ltd. purchased a new stake in shares of Fluence Energy during the 3rd quarter worth $87,000. 53.16% of the stock is owned by hedge funds and other institutional investors.

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.