Is Fluence Energy Inc. (NASDAQ: FLNC) A Top Momentum Pick?

Fluence Energy Inc. (NASDAQ:FLNC) price on Wednesday, August 17, fall -0.64% below its previous day’s close as a downside momentum from buyers pushed the stock’s value to $17.21.

A look at the stock’s price movement, the close in the last trading session was $17.32, moving within a range at $16.51 and $17.9848. Turning to its 52-week performance, $39.40 and $4.96 were the 52-week high and 52-week low respectively. Overall, FLNC moved 62.97% over the past month.

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Fluence Energy Inc.’s market cap currently stands at around $2.74 billion, with investors looking forward to this quarter’s earnings report slated for Dec 08, 2021. Analysts project the company’s earnings per share (EPS) to be -$0.34, which has seen fiscal year 2022 EPS growth forecast to increase to -$1.24 and about -$0.61 for fiscal year 2023. Per the data, EPS growth is expected to be -110.20% for 2022 and 50.80% for the next financial year.

Analysts have a consensus estimate of $227.93 million for the company’s revenue for the quarter, with a low and high estimate of $151 million and $300 million respectively. Wall Street analysts have also projected the company’s year-on-year revenue for 2022 to grow to $1.11 billion, representing a 62.60% jump on that reported in the last financial year.

Revisions could be used as tool to get short term price movement insight, and for the company that in the past seven days was no upward and no downward review(s). 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 Hold as suggested by medium term indicators while long term indicators are putting the stock in Hold 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 5 analyst(s) rate the stock as a Hold, 9 recommend FLNC as a Buy and 1 give it an Overweight rating. Meanwhile, 1 analyst(s) rate the stock as Underweight and 0 say it is a Sell. As such, the average rating for the stock is Overweight which could provide an opportunity for investors keen on increasing their holdings of the company’s stock.

FLNC’s current price about 21.55% and 50.10% off the 20-day and 50-day simple moving averages respectively. The Relative Strength Index (RSI, 14) currently prints 67.10, while 7-day volatility ratio is 9.66% and 9.14% in the 30-day chart. Further, Fluence Energy Inc. (FLNC) has a beta value of 0, and an average true range (ATR) of 1.35. Analysts have given the company’s stock an average 52-week price target of $21.92, forecast between a low of $7.00 and high of $39.00. Looking at the price targets, the low is 59.33% off current price level while to achieve the yearly target high, price needs to move -126.61%. Nonetheless, investors will most likely welcome a -27.83% jump to $22.00 which is the analysts’ median price.

In the market, a comparison of Fluence Energy Inc. (FLNC) and its peers suggest the former has performed considerably weaker. Elsewhere, the overall performance for the S&P 500 and Dow Jones Industrial shows that the indexes are down -0.72% and -0.50% respectively in the last trading.

If we refocus on Fluence Energy Inc. (NASDAQ:FLNC), historical trading data shows that trading volumes averaged 1.53 million over the past 10 days and 1.25 million over the past 3 months. The company’s latest data on shares outstanding shows there are 171.32 million shares.

The 0.28% of Fluence Energy Inc.’s shares are in the hands of company insiders. Also important is the data on short interest which shows that short shares stood at 5.52 million on Jul 14, 2022, giving us a short ratio of 4.23. The data shows that as of Jul 14, 2022 short interest in Fluence Energy Inc. (FLNC) stood at 10.00% of shares outstanding, with shares short falling to 5.72 million registered in Jun 14, 2022. Current price change has pushed the stock -51.60% 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.

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