Fluence Energy Inc (NASDAQ:FLNC) price on Wednesday, October 23, fall -0.05% below its previous day’s close as a downside momentum from buyers pushed the stock’s value to $19.80.
A look at the stock’s price movement, the close in the last trading session was $19.81, moving within a range at $19.15 and $19.86. The beta value (5-Year monthly) was 2.534. Turning to its 52-week performance, $27.80 and $12.74 were the 52-week high and 52-week low respectively. Overall, FLNC moved -11.45% over the past month.
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Fluence Energy Inc’s market cap currently stands at around $2.53 billion, with investors looking forward to this quarter’s earnings report slated for in November.
Analysts have a consensus estimate of 1.3B for the company’s revenue for the quarter, with a low and high estimate of 617.4M and 1.67B respectively. The average forecast suggests up to a 93.30% growth in sales growth compared to quarterly growth in the same period last fiscal year. Wall Street analysts have also projected the company’s year-on-year revenue to grow to 2.76B, representing a 24.60% jump on that reported in the last financial year.
Turning to the stock’s technical picture we see that short term indicators suggest on average that FLNC is a 50% Buy. On the other hand, the stock is on average a 50% Buy as suggested by medium term indicators while long term indicators are putting the stock in 100% Buy category.
16 analyst(s) have given their forecast ratings for the stock on a scale of 1.00-5.00 for a strong buy to strong sell recommendation. A total of 3 analyst(s) rate the stock as a Hold, 13 recommend FLNC as a Buy and 0 give it an Overweight rating. Meanwhile, 0 analyst(s) rate the stock as Underweight and 0 say it is a Sell. As such, the average rating for the stock is Buy which could provide an opportunity for investors keen on increasing their holdings of the company’s stock.
FLNC’s current price about -7.60% and -2.39% off the 20-day and 50-day simple moving averages respectively. The Relative Strength Index (RSI, 14) currently prints 42.59, while 7-day volatility ratio is 4.05% and 5.14% in the 30-day chart. Further, Fluence Energy Inc (FLNC) has a beta value of 2.52, and an average true range (ATR) of 1.10. Analysts have given the company’s stock an average 52-week price target of $26, forecast between a low of $18 and high of $47. Looking at the price targets, the low is 9.09% off current price level while to achieve the yearly target high, price needs to move -137.37%. Nonetheless, investors will most likely welcome a -31.31% jump to $26 which is the analysts’ median price.
If we refocus on Fluence Energy Inc (NASDAQ:FLNC), historical trading data shows that trading volumes averaged 1.2 over the past 10 days and 1.72 million over the past 3 months. The company’s latest data on shares outstanding shows there are 118.90 million shares.
The 42.92% of Fluence Energy Inc’s shares are in the hands of company insiders while institutional holders own 57.59% of the company’s shares. Also important is the data on short interest which shows that short shares stood at 11.0 million on 2024-09-30, giving us a short ratio of 6.65. The data shows that as of 2024-09-30 short interest in Fluence Energy Inc (FLNC) stood at 1758.0000000000002 of shares outstanding, with shares short falling to 11.5 million registered in 2024-08-30. Current price change has pushed the stock -16.98% YTD, which shows the potential for further growth is there. It is this reason that could see investor optimism for the FLNC stock continues to rise going into the next quarter.
