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

Fluence Energy, Inc. (NASDAQ:FLNC)’s share price gapped down before the market opened on Friday . The stock had previously closed at $15.58, but opened at $14.25. Fluence Energy shares last traded at $14.75, with a volume of 2,035,538 shares trading hands.

Analysts Set New Price Targets

A number of brokerages have recently commented on FLNC. BMO Capital Markets increased 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. Piper Sandler raised their price target on Fluence Energy from $18.00 to $20.00 and gave the company a “neutral” rating in a research report on Wednesday, November 27th. Royal Bank of Canada cut their price objective on Fluence Energy from $28.00 to $27.00 and set an “outperform” rating for the company in a report on Wednesday, November 27th. 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 report on Wednesday, December 18th. Finally, Truist Financial increased their price target on shares of Fluence Energy from $25.00 to $28.00 and gave the company a “buy” rating in a research report on Wednesday, October 16th. Seven equities research analysts have rated the stock with a hold rating and fourteen have issued a buy rating to the company. According to MarketBeat.com, the stock has a consensus rating of “Moderate Buy” and an average price target of $26.65.

Fluence Energy Trading Down 7.3 %

The firm has a market cap of $2.62 billion, a PE ratio of 111.08, a PEG ratio of 0.53 and a beta of 2.42. The firm has a fifty day simple moving average of $17.76 and a two-hundred day simple moving average of $18.61.

Fluence Energy (NASDAQ:FLNC) last released its quarterly earnings results on Monday, November 25th. The company reported $0.34 earnings per share for the quarter, beating 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 analysts’ expectations of $1.28 billion. During the same quarter in the previous year, the business posted $0.02 earnings per share. The firm’s revenue for the quarter was up 82.5% compared to the same quarter last year. Equities analysts expect that Fluence Energy, Inc. will post 0.55 earnings per share for the current fiscal year.

Insider Buying and Selling

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

Institutional Investors Weigh In On Fluence Energy

Hedge funds have recently made changes to their positions in the company. Handelsbanken Fonder AB lifted its position in Fluence Energy by 47.3% during the third quarter. Handelsbanken Fonder AB now owns 6,376,024 shares of the company’s stock valued at $144,800,000 after buying an additional 2,047,063 shares during the period. FMR LLC lifted its position in Fluence Energy by 9.0% during the 3rd quarter. FMR LLC now owns 1,606,100 shares of the company’s stock valued at $36,475,000 after acquiring an additional 132,868 shares during the period. Geode Capital Management LLC lifted its position in Fluence Energy by 4.2% during the 3rd quarter. Geode Capital Management LLC now owns 1,508,003 shares of the company’s stock valued at $34,253,000 after acquiring an additional 60,633 shares during the period. Clearbridge Investments LLC boosted its stake in Fluence Energy by 1.6% during the second quarter. Clearbridge Investments LLC now owns 1,500,841 shares of the company’s stock worth $26,025,000 after acquiring an additional 23,927 shares in the last quarter. Finally, Erste Asset Management GmbH purchased a new stake in Fluence Energy in the third quarter worth about $22,059,000. 53.16% of the stock is currently owned by 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.