Fluence Energy (FLNC) jumps after Roth/MKM upgrades stock, doubles price target

Fluence Energy (FLNC) shares surged 27.6% to close at $24.19 on May 12, 2026, after Roth/MKM upgraded the energy storage and software provider to Buy from Neutral and doubled its price target to $26 from $13. Roth/MKM cited stronger order flow, expanding growth opportunities and improving profitability. Fluence’s orders were up more than twofold year to date through May 6. The company also signed master service agreements with two hyperscale data center operators, with the first order expected in the third quarter. The move followed a 38.9% gain on May 11, 2026, after Fluence reaffirmed full-year revenue guidance of $3.4 billion and reported a 106% year-over-year increase in backlog to $10.1 billion, despite quarterly revenue of $464.9 million missing Wall Street estimates by 24%. The stock is up 5% in 2026 but remains 25.1% below its 52-week high of $32.23.