Fluence Energy Inc (NASDAQ: FLNC) stock jumped 4.82% on Friday to $19.15 against a previous-day closing price of $18.27. With 1.11 million shares changed hands, the volume of the stock remained lighter than its average volume of 1.2 million shares. During the session, the Utilities – Renewable company that operates in wider Utilities sector, reached to the highest price of $19.26 whereas the lowest price it dropped to was $18.41. The 52-week range on FLNC shows that it touched its highest point at $31.32 and its lowest point at $14.02 during that stretch. It currently has a 1-year price target of $31.08. Beta for the stock currently stands at 2.51.
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 11.66%, but this was down by -0.93% over a month. Three-month performance dropped to -15.30% while six-month performance fell -11.91%. The stock gained 18.72% in the past year, while it has gained 11.66% so far this year. A look at the trailing 12-month EPS for FLNC yields -0.95 with Next year EPS estimates of 0.16. For the next quarter, that number is -0.07. This implies an EPS growth rate of 44.37% for this year and 126.32% for next year.
Float and Shares Shorts:
At present, 114.87 million FLNC shares are outstanding with a float of 59.82 million shares on hand for trading. On Oct 30, 2023, short shares totaled 9.03 million, which was 7.62% higher than short shares on Sep 28, 2023. In addition to Mr. Julian Jose Nebreda Marquez as the firm’s President, CEO & Director, Mr. Manavendra S. Sial serves as its Senior VP & CFO.
Through their ownership of 65.09% of FLNC’s outstanding shares, institutional investors have majority control over the company. Other institutions hold 23.08% of FLNC, in contrast to 16.15% held by mutual funds. Shares owned by individuals account for 11.81%. As the largest shareholder in FLNC with 3.34% of the stake, Fidelity Management & Research Co holds 3,959,297 shares worth 3,959,297. A second-largest stockholder of FLNC, The Vanguard Group, Inc., holds 3,793,252 shares, controlling over 3.20% of the firm’s shares. BNP Paribas Asset Management UK L is the third largest shareholder in FLNC, holding 3,470,888 shares or 2.93% stake. With a 2.58% stake in FLNC, the BNP Paribas Funds – Energy Transi is the largest stakeholder. A total of 3,061,223 shares are owned by the mutual fund manager. The Handelsbanken Hallbar Energi, which owns about 1.74% of FLNC stock, is the second-largest Mutual Fund holder. It holds 2,060,247 shares valued at 35.68 million. Fidelity Global Innovators Invest holds 1.33% of the stake in FLNC, owning 1,575,500 shares worth 27.29 million.
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 $18.00, the average target price over the next 12 months is $31.08. Based on these targets, FLNC could surge 208.09% to reach the target high and fall by -6.01% to reach the target low. Reaching the average price target will result in a growth of 62.3% from current levels.
Summary of Insider Activity:
Insiders traded FLNC stock several times over the past three months with 3 Buys and 3 Sells. In these transactions, 100,674 shares were bought while 44,186 shares were sold. The number of buy transactions has increased to 10 while that of sell transactions has risen to 7 over the past year. The total number of shares bought during that period was 311,926 while 203,204 shares were sold.