Long Position on FLNC @ $24.50 on 5/31/2023 (Momentum)

Fluence Energy, Inc. (FLNC) offers energy storage products and services, and artificial intelligence enabled digital applications for renewables and storage applications in the Americas, Asia Pacific, Europe, Middle-East, and Africa. 

The company sells energy storage products with integrated hardware, software, and digital intelligence. Its energy storage products include Gridstack, a grid-scale industrial strength energy storage product; Ultrastack, that control and operate electricity system; Sunstack for optimizing solar capture and delivery; and Edgestack, a commercial energy storage product that discharges when needed to flatten a facility's energy load profile.

The company also provides engineering and delivery services to support the deployment of its storage products; operational and maintenance services; energy storage-as-a-service; and digital applications and solutions. It serves utilities, developers, and commercial and industrial customers. 

Shares have formed a bullish "cup and handle" and are expectd to move higher from this formation. On May 10th, FLNC reported a 2nd Quarter March 2023 loss of $0.16 per share on revenue of $698.2 million. The consensus estimate was a loss of $0.18 per share on revenue of $402.1 million. Revenue grew 103.7% on a year-over-year basis.

Guided Higher: The company said it expects fiscal 2023 revenue of $1.85 billion to $2.00 billion. The company's previous guidance was revenue of $1.60 billion to $1.80 billion and the current consensus revenue estimate is $1.70 billion for the year ending September 30, 2023.

Entry Point: $24.50

Stop Loss" $22.00

Trading Range: $8.11 to $26.78

Target Price: $26.90

Position closed on 6/12/2023 at price of $27.50 with a 12.24% gain in 12 days.

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