Short Interest in Fluence Energy, Inc. (NASDAQ:FLNC) Decreases By 9.1%

Fluence Energy, Inc. (NASDAQ:FLNCGet Rating) was the recipient of a large decrease in short interest in October. As of October 31st, there was short interest totalling 6,330,000 shares, a decrease of 9.1% from the October 15th total of 6,960,000 shares. Approximately 17.1% of the shares of the company are sold short. Based on an average daily volume of 955,300 shares, the short-interest ratio is currently 6.6 days.

Insider Transactions at Fluence Energy

In other news, CFO Dennis Fehr sold 15,576 shares of the company’s stock in a transaction on Wednesday, September 14th. The stock was sold at an average price of $18.64, for a total value of $290,336.64. Following the completion of the sale, the chief financial officer now directly owns 30,590 shares in the company, valued at approximately $570,197.60. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available at the SEC website. 0.01% of the stock is currently owned by company insiders.

Hedge Funds Weigh In On Fluence Energy

Several institutional investors and hedge funds have recently bought and sold shares of FLNC. Advisor Group Holdings Inc. grew its holdings in Fluence Energy by 47.3% in the first quarter. Advisor Group Holdings Inc. now owns 14,566 shares of the company’s stock worth $191,000 after purchasing an additional 4,678 shares during the last quarter. Qube Research & Technologies Ltd acquired a new position in Fluence Energy during the first quarter valued at $198,000. Nicola Wealth Management LTD. lifted its position in Fluence Energy by 254.5% during the first quarter. Nicola Wealth Management LTD. now owns 195,000 shares of the company’s stock valued at $2,556,000 after purchasing an additional 140,000 shares during the period. Bank of Nova Scotia acquired a new position in Fluence Energy during the first quarter valued at $1,534,000. Finally, SCP Investment LP acquired a new position in Fluence Energy during the first quarter valued at $194,000. 21.33% of the stock is owned by hedge funds and other institutional investors.

Analyst Ratings Changes

A number of equities research analysts have issued reports on the company. JPMorgan Chase & Co. cut their price target on Fluence Energy from $28.00 to $25.00 and set an “overweight” rating for the company in a research note on Thursday, October 20th. Canaccord Genuity Group increased their price target on Fluence Energy from $16.00 to $20.00 and gave the stock a “buy” rating in a research note on Wednesday, August 17th. Canaccord Genuity Group increased their price target on Fluence Energy from $16.00 to $20.00 and gave the stock a “buy” rating in a research note on Wednesday, August 17th. The Goldman Sachs Group raised their price objective on Fluence Energy from $15.00 to $19.00 and gave the company a “neutral” rating in a research report on Thursday, September 8th. Finally, Royal Bank of Canada raised their price objective on Fluence Energy from $18.00 to $23.00 and gave the company an “outperform” rating in a research report on Friday, September 2nd. One analyst has rated the stock with a sell rating, five have issued a hold rating and fifteen have given a buy rating to the stock. Based on data from MarketBeat, the company currently has a consensus rating of “Moderate Buy” and a consensus target price of $29.72.

Fluence Energy Stock Down 0.7 %

Shares of FLNC stock opened at $16.02 on Friday. The firm has a market cap of $2.77 billion and a price-to-earnings ratio of -8.13. The company’s 50 day moving average is $15.20 and its 200 day moving average is $13.15. Fluence Energy has a 52-week low of $4.96 and a 52-week high of $38.87.

Fluence Energy (NASDAQ:FLNCGet Rating) last released its quarterly earnings results on Monday, August 15th. The company reported ($0.99) earnings per share (EPS) for the quarter, missing the consensus estimate of ($0.33) by ($0.66). Fluence Energy had a negative return on equity of 25.55% and a negative net margin of 16.36%. The firm had revenue of $239.01 million during the quarter, compared to analysts’ expectations of $292.05 million. Analysts anticipate that Fluence Energy will post -1.5 EPS for the current fiscal year.

About Fluence Energy

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Fluence Energy, Inc provides energy storage products and services, and artificial intelligence enabled digital applications for renewables and storage applications worldwide. The company sells energy storage products with integrated hardware, software, and digital intelligence, as well as engineering and delivery services to support the deployment of its storage products; operational and maintenance, and energy storage-as-a-service; and digital applications and solutions.

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