Fluence Energy (NASDAQ:FLNC) Shares Gap Down – Here’s Why

Fluence Energy, Inc. (NASDAQ:FLNC) shares gapped down before the market opened on Wednesday . The stock had previously closed at $17.04, but opened at $16.60. Fluence Energy shares last traded at $17.03, with a volume of 453,646 shares.

Wall Street Analysts Forecast Growth

FLNC has been the topic of a number of recent research reports. Piper Sandler raised their target price on Fluence Energy from $18.00 to $20.00 and gave the company a “neutral” rating in a report on Wednesday, November 27th. Truist Financial upped their target price on shares of Fluence Energy from $25.00 to $28.00 and gave the stock a “buy” rating in a research note on Wednesday, October 16th. Jefferies Financial Group assumed coverage on shares of Fluence Energy in a report on Wednesday, September 4th. They set a “buy” rating and a $26.00 price target on the stock. Robert W. Baird restated a “neutral” rating and issued a $20.00 target price (down previously from $24.00) on shares of Fluence Energy in a research note on Wednesday. Finally, Citigroup downgraded Fluence Energy from a “buy” rating to a “neutral” rating and decreased their price target for the company from $32.00 to $24.00 in a research report on Tuesday, October 1st. Six investment analysts have rated the stock with a hold rating and fourteen have assigned a buy rating to the stock. According to data from MarketBeat.com, Fluence Energy presently has a consensus rating of “Moderate Buy” and a consensus price target of $26.65.

Fluence Energy Trading Up 3.5 %

The firm has a fifty day moving average of $19.99 and a two-hundred day moving average of $19.30. The company has a market capitalization of $3.19 billion, a PE ratio of 131.08, a PEG ratio of 0.54 and a beta of 2.39.

Fluence Energy (NASDAQ:FLNC) last issued its earnings results on Monday, November 25th. The company reported $0.34 earnings per share (EPS) for the quarter, topping the consensus estimate of $0.23 by $0.11. The firm had revenue of $1.23 billion for the quarter, compared to analysts’ expectations of $1.28 billion. Fluence Energy had a net margin of 0.89% and a return on equity of 4.10%. The business’s revenue was up 82.5% on a year-over-year basis. During the same quarter last year, the business earned $0.02 earnings per share. On average, equities analysts expect that Fluence Energy, Inc. will post 0.56 EPS for the current fiscal year.

Institutional Trading of Fluence Energy

Institutional investors have recently modified their holdings of the company. PARK CIRCLE Co bought a new stake in Fluence Energy during the 2nd quarter valued at approximately $28,000. US Bancorp DE raised its position in shares of Fluence Energy by 676.6% in the 3rd quarter. US Bancorp DE now owns 1,693 shares of the company’s stock worth $38,000 after purchasing an additional 1,475 shares during the last quarter. Blue Trust Inc. bought a new position in Fluence Energy in the 2nd quarter worth about $58,000. CWM LLC grew its position in Fluence Energy by 164.4% during the 3rd quarter. CWM LLC now owns 2,842 shares of the company’s stock valued at $65,000 after purchasing an additional 1,767 shares during the last quarter. Finally, Point72 DIFC Ltd purchased a new stake in shares of Fluence Energy during the third quarter valued at approximately $74,000. 53.16% of the stock is currently owned by hedge funds and other institutional investors.

Fluence Energy Company Profile

Fluence Energy, Inc, through its subsidiaries, offers energy storage products and solution, services, and artificial intelligence enabled software-as-a-service products for renewables and storage applications in the Americas, the Asia Pacific, Europe, the Middle East, and Africa. The company sells energy storage products with integrated hardware, software, and digital intelligence.