Fluence Energy (NASDAQ:FLNC) Trading Down 3.3% – Here’s Why

Fluence Energy, Inc. (NASDAQ:FLNC) fell 3.3% during trading on Wednesday . The stock traded as low as $14.11 and last traded at $15.62. 4,679,567 shares traded hands during trading, an increase of 57% from the average session volume of 2,984,020 shares. The stock had previously closed at $16.15.

Analyst Ratings Changes

Several equities research analysts have recently issued reports on FLNC shares. Bank of America lowered their target price 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. BMO Capital Markets lifted their target price on Fluence Energy from $24.00 to $25.00 and gave the stock an “outperform” rating in a research report on Monday, October 14th. Citigroup cut shares of Fluence Energy from a “buy” rating to a “neutral” rating and cut their price target for the stock from $32.00 to $24.00 in a report on Tuesday, October 1st. Royal Bank of Canada decreased their price objective on shares of Fluence Energy from $28.00 to $27.00 and set an “outperform” rating for the company in a report on Wednesday, November 27th. Finally, Canaccord Genuity Group reduced their target price on shares of Fluence Energy from $37.00 to $34.00 and set a “buy” rating on the stock in a research report on Friday, November 29th. Seven investment analysts have rated the stock with a hold rating and fourteen have assigned a buy rating to the company’s stock. Based on data from MarketBeat, the company has a consensus rating of “Moderate Buy” and a consensus target price of $26.65.

Fluence Energy Trading Down 2.7 %

The business’s 50-day moving average price is $18.05 and its 200-day moving average price is $18.65. The stock has a market cap of $2.85 billion, a PE ratio of 120.85, a P/E/G ratio of 0.56 and a beta of 2.42.

Fluence Energy (NASDAQ:FLNC) last released its quarterly 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. Fluence Energy had a net margin of 0.89% and a return on equity of 4.10%. The business had revenue of $1.23 billion for the quarter, compared to analyst estimates of $1.28 billion. During the same period in the previous year, the company earned $0.02 earnings per share. The business’s revenue for the quarter was up 82.5% on a year-over-year basis. As a group, analysts predict that Fluence Energy, Inc. will post 0.56 earnings per share for the current year.

Insiders Place Their Bets

In related news, Director Herman E. Bulls acquired 10,000 shares of the firm’s stock in a transaction that occurred on Monday, December 23rd. The stock was purchased at an average cost of $15.57 per share, with a total value of $155,700.00. Following the transaction, the director now directly owns 75,861 shares of the company’s stock, valued at $1,181,155.77. This trade represents a 15.18 % increase in their position. The purchase was disclosed in a legal filing with the SEC, which is accessible through this hyperlink. Corporate insiders own 0.41% of the company’s stock.

Institutional Inflows and Outflows

A number of hedge funds have recently bought and sold shares of FLNC. Rhumbline Advisers grew its holdings in shares of Fluence Energy by 19.1% during the second quarter. Rhumbline Advisers now owns 93,380 shares of the company’s stock valued at $1,619,000 after buying an additional 14,992 shares during the last quarter. DekaBank Deutsche Girozentrale grew its stake in Fluence Energy by 32.4% during the 2nd quarter. DekaBank Deutsche Girozentrale now owns 510,056 shares of the company’s stock valued at $8,844,000 after purchasing an additional 124,896 shares during the last quarter. Federated Hermes Inc. grew its stake in Fluence Energy by 9.6% during the 2nd quarter. Federated Hermes Inc. now owns 21,069 shares of the company’s stock valued at $365,000 after purchasing an additional 1,851 shares during the last quarter. Dimensional Fund Advisors LP raised its stake in shares of Fluence Energy by 40.7% in the second quarter. Dimensional Fund Advisors LP now owns 735,183 shares of the company’s stock worth $12,755,000 after purchasing an additional 212,654 shares during the last quarter. Finally, L & S Advisors Inc raised its stake in shares of Fluence Energy by 30.6% in the second quarter. L & S Advisors Inc now owns 68,350 shares of the company’s stock worth $1,185,000 after purchasing an additional 16,014 shares during the last quarter. Institutional investors and hedge funds own 53.16% of the company’s stock.

About Fluence Energy

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.