Healthy Upside Potential: Fluence Energy Inc (FLNC)

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.

Institutional Ownership:

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.

Analysts Ratings:

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.