What Happened?
Shares of electricity storage and software provider Fluence (NASDAQ: FLNC) jumped 6.5% in the afternoon session after analysts became more bullish on the stock as the company reported strong business momentum, including a surging order backlog and new agreements with major data center operators.
Roth/MKM upgraded Fluence Energy's stock rating to Buy from Neutral, citing strengthening order flow and expanding growth opportunities. In addition, Mizuho raised its price target on the shares to $15.00 from $13.00, pointing to the potential upside from the data center market.
The positive analyst sentiment follows the company's recent results, which revealed that its order backlog had expanded to $5.6 billion and that order intake had doubled in 2026. Fueling this growth, Fluence also signed supply agreements with two large-scale data center operators, known as hyperscalers.
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What Is The Market Telling Us
Fluence Energy’s shares are extremely volatile and have had 89 moves greater than 5% over the last year. In that context, today’s move indicates the market considers this news meaningful but not something that would fundamentally change its perception of the business.
The previous big move we wrote about was 3 days ago when the stock gained 28.2% on the news that analyst firm Roth/MKM upgraded its rating on the stock to Buy from Neutral and doubled its price target, citing significant business momentum. The investment firm raised its price target to $26.00 from $13.00. The upgrade was driven by what Roth/MKM described as strengthening order flow, expanding growth opportunities, and improving profitability for Fluence. The company's orders were up more than two times year-to-date through May 6. Furthermore, Fluence Energy signed master service agreements with two large-scale data center operators, known as hyperscalers, with the first order from these deals anticipated in the third quarter. This indicates strong commercial progress and underpins the more optimistic outlook for the company's financial performance.
Fluence Energy is up 13.4% since the beginning of the year, but at $26.09 per share, it is still trading 19% below its 52-week high of $32.23 from February 2026. Investors who bought $1,000 worth of Fluence Energy’s shares at the IPO in October 2021 would now be looking at an investment worth $745.57.
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