Fluence Energy (NASDAQ:FLNC) Shares Gap Down – Should You Sell?

Fluence Energy, Inc. (NASDAQ:FLNC)’s stock price gapped down prior to trading 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

FLNC has been the topic of a number of research analyst reports. Jefferies Financial Group began coverage on shares of Fluence Energy in a research report on Wednesday, September 4th. They issued a “buy” rating and a $26.00 target price on the stock. BNP Paribas upgraded Fluence Energy from an “underperform” rating to a “neutral” rating and set a $22.00 price objective on the stock in a research report on Friday, November 8th. Piper Sandler upped their target price on Fluence Energy from $18.00 to $20.00 and gave the stock a “neutral” rating in a report on Wednesday, November 27th. Susquehanna lifted their price target on Fluence Energy from $23.00 to $28.00 and gave the company a “positive” rating in a research note on Wednesday, October 16th. Finally, Bank of America lowered their price objective on Fluence Energy from $25.00 to $24.00 and set a “buy” rating for the company in a research note on Thursday, November 7th. Seven equities research analysts have rated the stock with a hold rating and fourteen have issued a buy rating to the company’s stock. Based on data from MarketBeat, Fluence Energy has a consensus rating of “Moderate Buy” and a consensus price target of $26.65.

Fluence Energy Trading Up 2.8 %

The firm has a 50-day moving average of $19.18 and a 200 day moving average of $18.99. The company has a market cap of $2.94 billion, a P/E ratio of 124.92, a price-to-earnings-growth ratio of 0.54 and a beta of 2.39.

Fluence Energy (NASDAQ:FLNC) last announced its quarterly earnings data on Monday, November 25th. The company reported $0.34 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 company had revenue of $1.23 billion during the quarter, compared to the consensus estimate of $1.28 billion. During the same quarter last year, the firm posted $0.02 EPS. The company’s quarterly revenue was up 82.5% on a year-over-year basis. On average, equities analysts predict that Fluence Energy, Inc. will post 0.56 EPS for the current year.

Insider Activity

In other news, Director Herman E. Bulls bought 10,000 shares of the firm’s stock in a transaction that occurred on Monday, December 23rd. The stock was acquired 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 approximately $1,181,155.77. This represents a 15.18 % increase in their position. The purchase was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. Company insiders own 0.41% of the company’s stock.

Institutional Investors Weigh In On Fluence Energy

Hedge funds have recently added to or reduced their stakes in the company. JPMorgan Chase & Co. lifted its holdings in shares of Fluence Energy by 73.7% in the 3rd quarter. JPMorgan Chase & Co. now owns 536,184 shares of the company’s stock worth $12,177,000 after purchasing an additional 227,549 shares in the last quarter. Principal Financial Group Inc. bought a new position in shares of Fluence Energy in the third quarter valued at $5,742,000. Franklin Resources Inc. grew its holdings in shares of Fluence Energy by 11.8% during the third quarter. Franklin Resources Inc. now owns 166,613 shares of the company’s stock valued at $3,644,000 after buying an additional 17,551 shares during the last quarter. Geode Capital Management LLC increased its position in shares of Fluence Energy by 4.2% during the third quarter. Geode Capital Management LLC now owns 1,508,003 shares of the company’s stock worth $34,253,000 after acquiring an additional 60,633 shares in the last quarter. Finally, Duff & Phelps Investment Management Co. raised its holdings in shares of Fluence Energy by 76.2% in the 3rd quarter. Duff & Phelps Investment Management Co. now owns 25,760 shares of the company’s stock worth $585,000 after acquiring an additional 11,138 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.