Fluence Energy Inc (NASDAQ: FLNC) Surprises The Bears, Looks Good Going Forward

In the last trading session, 2.1 million shares of the Fluence Energy Inc (NASDAQ:FLNC) were traded, and its beta was 2.55. Most recently the company’s share price was $17.34, and it changed around $0.69 or 4.14% from the last close, which brings the market valuation of the company to $2.20B. FLNC currently trades at a discount to its 52-week high of $31.32, offering almost -80.62% off that amount. The share price’s 52-week low was $13.03, which indicates that the current value has risen by an impressive 24.86% since then. We note from Fluence Energy Inc’s average daily trading volume that its 10-day average is 1.91 million shares, with the 3-month average coming to 2.42 million.

Fluence Energy Inc stock received a consensus recommendation rating of Buy, based on a mean score of 1.60. If we narrow it down even further, the data shows that 1 out of 24 analysts rate the stock as a Sell; another 7 rate it as Overweight. Among the rest, 5 recommended FLNC as a Hold, whereas 11 deemed it a Buy, and 0 rated it as Underweight. Fluence Energy Inc is expected to report earnings per share of -$0.06 for the current quarter.

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Fluence Energy Inc (NASDAQ:FLNC) trade information

Instantly FLNC has showed a green trend with a performance of 4.14% at the end of last trading. The performance over the last five days has remained in the green territory. The company’s shares are currently down -27.30% year-to-date, but still up 8.24% over the last five days. On the other hand, Fluence Energy Inc (NASDAQ:FLNC) is 12.23% up in the 30-day period. We can see from the shorts that 12.6 million shares have been sold at a short interest cover period of 3.59 day(s).

The consensus price target as assigned by Wall Street analysts is $24.8, which translates to bulls needing to increase their stock price by 30.08% from its current value. Analyst projections state that FLNC is forecast to be at a low of $19 and a high of $32.

Fluence Energy Inc (FLNC) estimates and forecasts

Fluence Energy Inc share prices are performing particularly well compared to other companies within the same industry. As is evident from the statistics, the company’s shares have fallen -22.07 percent over the past six months and at a 123.33% annual growth rate that is well above the industry average of 12.60%. Moreover, analysts have decided to roll up on their fiscal year 2024 revenue estimates. The rating firms predict that it will gain 45.50% in revenue this quarter, and will report an increase of 170.00% in the next quarter. The year-over-year growth rate is expected to be 34.40%, up from the previous year.

Consensus estimates provided by 13 financial analysts predict the company will bring in an average of $594.34 million in revenue for the current quarter. 13 analysts expect Fluence Energy Inc to make $941.69 million in revenue for the quarter ending Jun 2024. Analysts predict that the company’s current quarter sales will jump, forecast at 42.30%.

Looking at the company’s year-over-year earnings, the past five years showed a positive earnings growth rate of 10.91%.

FLNC Dividends

Fluence Energy Inc’s next quarterly earnings report is expected to be released around May 11 and May 15.

Fluence Energy Inc (NASDAQ:FLNC)’s Major holders

Upon looking at major shareholders, it appears that insiders hold 31.56% of Fluence Energy Inc shares, and 74.57% of them are in the hands of institutional investors. The stock currently has a share float of 108.95%. Fluence Energy Inc stock is held by 319 institutions, with Siemens Ag being the largest institutional investor. By Jun 29, 2023, it held 33.53% of the shares, which is about 39.74 million shares worth $1.06 billion.

Siemens Pension Trust E.V., with 15.91% or 18.85 million shares worth $502.13 million as of Jun 29, 2023, holds the second largest percentage of outstanding shares.

Vanguard Total Stock Market Index Fund and Vanguard Small-Cap Index Fund were the top two Mutual Funds as of Jun 29, 2023. The former held 1.26 million shares worth $33.45 million, making up 1.06% of all outstanding shares. On the other hand, Vanguard Small-Cap Index Fund held roughly 1.06 million shares worth around $28.15 million, which represents about 0.89% of the total shares outstanding.