Its Stock Has Paid Off Big Time For Fluence Energy Inc.

Fluence Energy Inc. (NASDAQ: FLNC) stock jumped 7.85% on Friday to $22.54 against a previous-day closing price of $20.90. With 1.49 million shares changed hands, the volume of the stock remained heavier than its average volume of 0.97 million shares. During the session, the Utilities – Renewable company that operates in wider Utilities sector, reached to the highest price of $23.18 whereas the lowest price it dropped to was $20.74. The 52-week range on FLNC shows that it touched its highest point at $23.62 and its lowest point at $4.96 during that stretch. It currently has a 1-year price target of $24.67.

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Price Performance and Earnings:

Stock performance is one of the indicators that investors use to determine whether they will profit from a stock. The price performance of FLNC was up-trending over the past week, with a rise of 3.11%, but this was up by 16.07% over a month. Three-month performance surged to 62.86% while six-month performance rose 102.88%. The stock gained 2.78% in the past year, while it has gained 31.43% so far this year. A look at the trailing 12-month EPS for FLNC yields -1.56 with Next year EPS estimates of 0.07. For the next quarter, that number is -0.26. This implies an EPS growth rate of 54.20% for this year and 107.90% for next year.

Float and Shares Shorts:

At present, 114.94 million FLNC shares are outstanding with a float of 37.64 million shares on hand for trading. On Oct 13, 2022, short shares totaled 6.96 million, which was 6.09% higher than short shares on Sep 14, 2022. In addition to Ms. Rebecca Boll as the firm’s Sr. VP & Chief Product Officer, Mr. Julian Jose Nebreda Marquez serves as its Pres, CEO & Director.

Institutional Ownership:

Through their ownership of 52.93% of FLNC’s outstanding shares, institutional investors have majority control over the company. Other institutions hold 9.73% of FLNC, in contrast to 21.83% held by mutual funds. Shares owned by individuals account for 16.42%. As the largest shareholder in FLNC with 5.10% of the stake, BNP Paribas Asset Management UK L holds 5,910,371 shares worth 5,910,371. A second-largest stockholder of FLNC, Electron Capital Partners LLC, holds 3,988,451 shares, controlling over 3.44% of the firm’s shares. The Vanguard Group, Inc. is the third largest shareholder in FLNC, holding 3,225,209 shares or 2.78% stake. With a 4.69% stake in FLNC, the BNP Paribas Funds – Energy Transi is the largest stakeholder. A total of 5,433,461 shares are owned by the mutual fund manager. The Schroder ISF – Global Energy Tran, which owns about 1.53% of FLNC stock, is the second-largest Mutual Fund holder. It holds 1,776,000 shares valued at 30.46 million. Handelsbanken Hallbar Energi holds 1.38% of the stake in FLNC, owning 1,599,052 shares worth 27.42 million.

Analysts Ratings:

Reading analyst opinions is an effective way to decide where to invest, and there are several opinions available for FLNC since 18 analysts follow the stock currently. There are 10 analysts who recommend BUY ratings, while 0 suggest SELL ratings. Of the remaining analysts, 6 believe that the stock is worth HOLDING, 1 give it an OVERWEIGHT rating, and 1 thinks that it’s UNDERWEIGHT. In the same way, a target price assigned to a stock can also reveal much about its potential. With FLNC analysts setting a high price target of $32.00 and a low target of $14.00, the average target price over the next 12 months is $24.43. Based on these targets, FLNC could surge 41.97% to reach the target high and fall by -37.89% to reach the target low. Reaching the average price target will result in a growth of 8.39% from current levels.

EPS: Estimates vs Actual

It is also common to use earnings estimates to evaluate a firm’s growth potential and to determine trading strategy. FLNC will report FY 2023 earnings on 12/07/2023. Analysts have provided yearly estimates in a range of -$0.30 being high and -$1.49 being low. For FLNC, this leads to a yearly average estimate of -$0.79. The earnings surprise of a firm occurs when the actual results change from the consensus earnings estimate. Fluence Energy Inc. surprised analysts by $0.05 when it reported -$0.24 EPS against a consensus estimate of -$0.29. The surprise factor in the prior quarter was $0.04. Based on analyst estimates, the high estimate for the next quarter is -$0.12 and the low estimate is -$0.46. The average estimate for the next quarter is thus -$0.25.

Summary of Insider Activity:

Insiders traded FLNC stock several times over the past three months with 4 Buys and 0 Sells. In these transactions, 14,284 shares were bought while 0 shares were sold. The number of buy transactions has increased to 27 while that of sell transactions has risen to 10 over the past year. The total number of shares bought during that period was 427,615 while 263,386 shares were sold.

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