Fluence Energy shares rise as analysts cite backlog growth, data center deals

Fluence Energy (FLNC) shares rose 6.5% on May 14, 2026, after analysts turned more positive on the energy storage and software company, citing stronger order flow, a $5.6 billion backlog and new supply agreements with two large data center operators. Roth/MKM upgraded Fluence to Buy from Neutral, pointing to improving business momentum and growth opportunities. Mizuho raised its price target to $15 from $13, citing potential demand from the data center market. Roth/MKM had also lifted its target to $26 from $13 on May 11, when the stock gained 28.2%. Fluence said orders had more than doubled in 2026 through May 6, and that initial orders tied to the hyperscaler agreements are expected in the third quarter. The stock was trading at $26.09, up 13.4% year to date but 19% below its 52-week high of $32.23 reached in February 2026.