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

Fluence Energy, Inc. (NASDAQ:FLNC)’s stock price gapped down before the market opened on Thursday . The stock had previously closed at $16.13, but opened at $15.75. Fluence Energy shares last traded at $15.91, with a volume of 117,344 shares trading hands.

Analyst Ratings Changes

A number of equities research analysts have commented on FLNC shares. Jefferies Financial Group began coverage on Fluence Energy in a research note on Wednesday, September 4th. They issued a “buy” rating and a $26.00 price target for the company. BNP Paribas upgraded shares of Fluence Energy from an “underperform” rating to a “neutral” rating and set a $22.00 target price for the company in a research note on Friday, November 8th. Robert W. Baird reissued a “neutral” rating and set a $20.00 target price (down previously from $24.00) on shares of Fluence Energy in a research report on Wednesday, December 18th. Bank of America decreased their price target on shares of Fluence Energy from $25.00 to $24.00 and set a “buy” rating for the company in a report on Thursday, November 7th. Finally, Piper Sandler boosted their price objective on shares of Fluence Energy from $18.00 to $20.00 and gave the company a “neutral” rating in a report on Wednesday, November 27th. Seven analysts have rated the stock with a hold rating and fourteen have given a buy rating to the company. According to data from MarketBeat, Fluence Energy has a consensus rating of “Moderate Buy” and a consensus price target of $26.65.

Fluence Energy Trading Down 1.5 %

The firm’s fifty day moving average price is $19.42 and its two-hundred day moving average price is $19.03. The stock has a market capitalization of $2.88 billion, a PE ratio of 122.23, a price-to-earnings-growth ratio of 0.54 and a beta of 2.39.

Fluence Energy (NASDAQ:FLNC) last released its quarterly earnings data on Monday, November 25th. The company reported $0.34 earnings per share for the quarter, beating analysts’ consensus estimates of $0.23 by $0.11. Fluence Energy had a net margin of 0.89% and a return on equity of 4.10%. The company had revenue of $1.23 billion during the quarter, compared to analysts’ expectations of $1.28 billion. During the same quarter in the previous year, the company earned $0.02 earnings per share. The firm’s revenue for the quarter was up 82.5% on a year-over-year basis. As a group, sell-side analysts anticipate that Fluence Energy, Inc. will post 0.56 earnings per share for the current fiscal year.

Hedge Funds Weigh In On Fluence Energy

A number of large investors have recently bought and sold shares of FLNC. FMR LLC increased its position in shares of Fluence Energy by 9.0% in the third quarter. FMR LLC now owns 1,606,100 shares of the company’s stock valued at $36,475,000 after buying an additional 132,868 shares in the last quarter. Erste Asset Management GmbH acquired a new stake in Fluence Energy in the 3rd quarter valued at $22,059,000. XTX Topco Ltd purchased a new stake in Fluence Energy in the 3rd quarter worth $825,000. Nicola Wealth Management LTD. raised its position in Fluence Energy by 62.0% during the third quarter. Nicola Wealth Management LTD. now owns 81,000 shares of the company’s stock worth $1,840,000 after acquiring an additional 31,000 shares during the period. Finally, Barclays PLC lifted its holdings in Fluence Energy by 296.8% during the third quarter. Barclays PLC now owns 181,766 shares of the company’s stock valued at $4,127,000 after purchasing an additional 135,957 shares in the last quarter. Institutional investors and hedge funds own 53.16% of the company’s stock.

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.