Fluence Energy Inc. (NASDAQ: FLNC) stock fell -0.79% on Friday to $25.24 against a previous-day closing price of $25.44. With 1.19 million shares changed hands, the volume of the stock remained lighter than its average volume of 1.22 million shares. During the session, the Utilities – Renewable company that operates in wider Utilities sector, reached to the highest price of $25.95 whereas the lowest price it dropped to was $24.72. The 52-week range on FLNC shows that it touched its highest point at $31.32 and its lowest point at $11.90 during that stretch. It currently has a 1-year price target of $33.35. Beta for the stock currently stands at 2.59.
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 down-trending over the past week, with a drop of -4.68%, but this was up by 11.34% over a month. Three-month performance dropped to -7.24% while six-month performance rose 54.56%. The stock gained 31.12% in the past year, while it has gained 47.17% so far this year. A look at the trailing 12-month EPS for FLNC yields -0.95 with Next year EPS estimates of 0.29. For the next quarter, that number is -0.05. This implies an EPS growth rate of 54.20% for this year and 152.70% for next year.
Float and Shares Shorts:
At present, 117.46 million FLNC shares are outstanding with a float of 78.50 million shares on hand for trading. On Aug 30, 2023, short shares totaled 7.9 million, which was 6.67% higher than short shares on Jul 30, 2023. In addition to Mr. Julian Jose Nebreda Marquez as the firm’s Pres, CEO & Director, Mr. Manavendra S. Sial serves as its Sr. VP & CFO.
Through their ownership of 65.09% of FLNC’s outstanding shares, institutional investors have majority control over the company. Other institutions hold 19.44% of FLNC, in contrast to 16.13% held by mutual funds. Shares owned by individuals account for 12.55%. As the largest shareholder in FLNC with 3.26% of the stake, BNP Paribas Asset Management UK L holds 3,862,041 shares worth 3,862,041. A second-largest stockholder of FLNC, The Vanguard Group, Inc., holds 3,705,539 shares, controlling over 3.13% of the firm’s shares. Electron Capital Partners LLC is the third largest shareholder in FLNC, holding 2,454,751 shares or 2.07% stake. With a 2.84% stake in FLNC, the BNP Paribas Funds – Energy Transi is the largest stakeholder. A total of 3,369,448 shares are owned by the mutual fund manager. The Vanguard Total Stock Market ETF, which owns about 1.06% of FLNC stock, is the second-largest Mutual Fund holder. It holds 1,255,813 shares valued at 33.09 million. Handelsbanken Hallbar Energi holds 0.98% of the stake in FLNC, owning 1,164,344 shares worth 30.68 million.
An Overview of Recent Financials:
Understanding a company as a customer does not mean you will understand it as an investor. The wise investor uses quantitative research to analyze metrics such as revenue, net income, and earnings. In its fiscal quarter reported on Jun 29, 2023, FLNC reported revenue of $239.01M and operating income of -$61.03M. The EBITDA in the recently reported quarter was -$59.26M and diluted EPS was -$0.35.
Reading analyst opinions is an effective way to decide where to invest, and there are several opinions available for FLNC since 0 analysts follow the stock currently. 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 $59.00 and a low target of $24.00, the average target price over the next 12 months is $33.45. Based on these targets, FLNC could surge 133.76% to reach the target high and fall by -4.91% to reach the target low. Reaching the average price target will result in a growth of 32.53% 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.
Summary of Insider Activity:
Insiders traded FLNC stock several times over the past three months with 0 Buys and 0 Sells. In these transactions, 0 shares were bought while 0 shares were sold. The number of buy transactions has increased to 11 while that of sell transactions has risen to 4 over the past year. The total number of shares bought during that period was 225,536 while 159,018 shares were sold.