For those looking to find strong Oils-Energy stocks, it is prudent to search for companies in the group that are outperforming their peers. Is Fluence Energy, Inc. (FLNC) one of those stocks right now? Let's take a closer look at the stock's year-to-date performance to find out.
Fluence Energy, Inc. is a member of our Oils-Energy group, which includes 237 different companies and currently sits at #15 in the Zacks Sector Rank. The Zacks Sector Rank includes 16 different groups and is listed in order from best to worst in terms of the average Zacks Rank of the individual companies within each of these sectors.
The Zacks Rank is a proven system that emphasizes earnings estimates and estimate revisions, highlighting a variety of stocks that are displaying the right characteristics to beat the market over the next one to three months. Fluence Energy, Inc. is currently sporting a Zacks Rank of #2 (Buy).
Over the past 90 days, the Zacks Consensus Estimate for FLNC's full-year earnings has moved 6.7% higher. This is a sign of improving analyst sentiment and a positive earnings outlook trend.
According to our latest data, FLNC has moved about 37.1% on a year-to-date basis. Meanwhile, stocks in the Oils-Energy group have gained about 15.3% on average. As we can see, Fluence Energy, Inc. is performing better than its sector in the calendar year.
One other Oils-Energy stock that has outperformed the sector so far this year is Neste OYJ - Unsponsored ADR (NTOIY). The stock is up 15.3% year-to-date.
For Neste OYJ - Unsponsored ADR, the consensus EPS estimate for the current year has increased 35.4% over the past three months. The stock currently has a Zacks Rank #2 (Buy).
Looking more specifically, Fluence Energy, Inc. belongs to the Alternative Energy - Other industry, a group that includes 47 individual stocks and currently sits at #156 in the Zacks Industry Rank. On average, stocks in this group have gained 39.7% this year, meaning that FLNC is slightly underperforming its industry in terms of year-to-date returns.
On the other hand, Neste OYJ - Unsponsored ADR belongs to the Oil and Gas - Refining and Marketing industry. This 16-stock industry is currently ranked #206. The industry has moved +24.3% year to date.
Investors interested in the Oils-Energy sector may want to keep a close eye on Fluence Energy, Inc. and Neste OYJ - Unsponsored ADR as they attempt to continue their solid performance.
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Fluence Energy, Inc. (FLNC): Free Stock Analysis Report Neste OYJ - Unsponsored ADR (NTOIY): Free Stock Analysis ReportThis article originally published on Zacks Investment Research (zacks.com).
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