Fluence Energy (NASDAQ:FLNC) Shares Gap Up – Here’s What Happened

Fluence Energy, Inc. (NASDAQ:FLNC) gapped up prior to trading on Thursday . The stock had previously closed at $15.88, but opened at $16.51. Fluence Energy shares last traded at $16.54, with a volume of 295,135 shares.

Wall Street Analysts Forecast Growth

A number of equities analysts have recently commented on FLNC shares. Baird R W lowered shares of Fluence Energy from a “strong-buy” rating to a “hold” rating in a research report on Wednesday, December 18th. BMO Capital Markets upped their price target on shares of Fluence Energy from $24.00 to $25.00 and gave the stock an “outperform” rating in a report on Monday, October 14th. Citigroup cut Fluence Energy from a “buy” rating to a “neutral” rating and reduced their target price for the stock from $32.00 to $24.00 in a research report on Tuesday, October 1st. BNP Paribas raised Fluence Energy from an “underperform” rating to a “neutral” rating and set a $22.00 price target on the stock in a report on Friday, November 8th. Finally, Susquehanna lifted their price target on Fluence Energy from $23.00 to $28.00 and gave the company a “positive” rating in a research report on Wednesday, October 16th. Seven investment analysts have rated the stock with a hold rating and fourteen have assigned a buy rating to the stock. According to MarketBeat, Fluence Energy presently has a consensus rating of “Moderate Buy” and a consensus target price of $26.65.

Fluence Energy Price Performance

The firm’s 50 day moving average is $18.70 and its 200 day moving average is $18.77. The company has a market capitalization of $3.14 billion, a PE ratio of 133.46, a P/E/G ratio of 0.54 and a beta of 2.39.

Fluence Energy (NASDAQ:FLNC) last posted its earnings results on Monday, November 25th. The company reported $0.34 earnings per share (EPS) for the quarter, beating 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 return on equity of 4.10% and a net margin of 0.89%. The business’s revenue was up 82.5% compared to the same quarter last year. During the same period in the previous year, the firm earned $0.02 earnings per share. As a group, analysts predict that Fluence Energy, Inc. will post 0.56 EPS for the current fiscal year.

Insiders Place Their Bets

In related news, Director Herman E. Bulls purchased 10,000 shares of Fluence Energy stock in a transaction dated Monday, December 23rd. The stock was purchased at an average cost of $15.57 per share, for a total transaction of $155,700.00. Following the completion of the acquisition, the director now directly owns 75,861 shares of the company’s stock, valued at $1,181,155.77. The trade was a 15.18 % increase in their ownership of the stock. The acquisition was disclosed in a filing with the SEC, which can be accessed through this hyperlink. 0.41% of the stock is owned by corporate insiders.

Institutional Trading of Fluence Energy

Institutional investors have recently bought and sold shares of the company. US Bancorp DE raised its position in 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 buying an additional 1,475 shares during the last quarter. CWM LLC lifted its position in Fluence Energy by 164.4% during the third 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 period. Point72 DIFC Ltd purchased a new stake in Fluence Energy in the third quarter worth approximately $74,000. Point72 Asia Singapore Pte. Ltd. bought a new stake in Fluence Energy in the 3rd quarter worth approximately $87,000. Finally, Blue Trust Inc. raised its stake in Fluence Energy by 45.3% during the 3rd quarter. Blue Trust Inc. now owns 4,821 shares of the company’s stock valued at $109,000 after buying an additional 1,502 shares during the last quarter. 53.16% of the stock is 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.