Fluence Energy (NASDAQ:FLNC) Shares Gap Up – What’s Next?

Fluence Energy, Inc. (NASDAQ:FLNC) shares gapped up before the market opened 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 traded.

Analyst Upgrades and Downgrades

A number of brokerages have commented on FLNC. Guggenheim reiterated a “buy” rating and issued a $26.00 price target on shares of Fluence Energy in a research note on Friday, December 6th. Robert W. Baird reiterated a “neutral” rating and issued a $20.00 target price (down from $24.00) on shares of Fluence Energy in a research note on Wednesday, December 18th. Citigroup downgraded Fluence Energy from a “buy” rating to a “neutral” rating and lowered their price target 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 objective for the company in a research report on Friday, November 8th. Finally, Jefferies Financial Group started coverage on Fluence Energy in a report on Wednesday, September 4th. They set a “buy” rating and a $26.00 price target for the company. Seven investment analysts have rated the stock with a hold rating and fourteen have issued a buy rating to the company’s stock. According to MarketBeat.com, the company currently has an average rating of “Moderate Buy” and a consensus price target of $26.65.

Fluence Energy Stock Performance

The stock has a market capitalization of $3.00 billion, a P/E ratio of 127.23, a PEG ratio of 0.54 and a beta of 2.39. The business has a fifty day simple moving average of $18.84 and a 200-day simple moving average of $18.80.

Fluence Energy (NASDAQ:FLNC) last released its quarterly earnings data on Monday, November 25th. The company reported $0.34 EPS for the quarter, beating the consensus estimate of $0.23 by $0.11. Fluence Energy had a return on equity of 4.10% and a net margin of 0.89%. The firm had revenue of $1.23 billion during the quarter, compared to the consensus estimate of $1.28 billion. During the same quarter in the previous year, the company posted $0.02 earnings per share. The company’s quarterly revenue was up 82.5% on a year-over-year basis. On average, sell-side analysts anticipate 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 bought 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, 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. The trade was a 15.18 % increase in their ownership of the stock. The acquisition was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through the SEC website. Corporate insiders own 0.41% of the company’s stock.

Institutional Investors Weigh In On Fluence Energy

Several hedge funds and other institutional investors have recently modified their holdings of FLNC. PARK CIRCLE Co bought a new stake in shares of Fluence Energy during the 2nd quarter valued at about $28,000. US Bancorp DE increased its position in shares of Fluence Energy by 676.6% during the 3rd quarter. US Bancorp DE now owns 1,693 shares of the company’s stock valued at $38,000 after purchasing an additional 1,475 shares during the last quarter. CWM LLC raised its holdings in shares of Fluence Energy by 164.4% during the 3rd quarter. CWM LLC now owns 2,842 shares of the company’s stock valued at $65,000 after buying an additional 1,767 shares in the last quarter. Point72 DIFC Ltd bought a new position in Fluence Energy during the third quarter valued at approximately $74,000. Finally, Point72 Asia Singapore Pte. Ltd. purchased a new position in Fluence Energy in the 3rd quarter worth $87,000. 53.16% of the stock is currently owned by institutional investors.

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.