Fluence Energy (NASDAQ:FLNC) Shares Gap Up to $17.36

Fluence Energy, Inc. (NASDAQ:FLNCGet Rating) shares gapped up prior to trading on Wednesday . The stock had previously closed at $17.36, but opened at $17.96. Fluence Energy shares last traded at $17.87, with a volume of 2,431 shares traded.

Analyst Ratings Changes

FLNC has been the subject of a number of recent research reports. Evercore ISI increased their target price on Fluence Energy to $23.00 in a report on Monday, August 22nd. JPMorgan Chase & Co. raised their price target on Fluence Energy from $25.00 to $28.00 and gave the company an “overweight” rating in a report on Monday, August 8th. Morgan Stanley raised their price target on Fluence Energy from $17.00 to $18.00 and gave the company an “equal weight” rating in a report on Thursday. The Goldman Sachs Group raised their price target on Fluence Energy from $15.00 to $19.00 and gave the company a “neutral” rating in a report on Thursday, September 8th. Finally, Canaccord Genuity Group raised their price target on Fluence Energy from $16.00 to $20.00 and gave the company a “buy” rating in a report on Wednesday, August 17th. One equities research analyst has rated the stock with a sell rating, five have issued a hold rating and fifteen have issued a buy rating to the company. According to MarketBeat.com, the company presently has a consensus rating of “Moderate Buy” and a consensus price target of $29.89.

Fluence Energy Stock Performance

The firm has a market capitalization of $2.69 billion and a P/E ratio of -7.90. The company has a 50-day moving average price of $16.17 and a 200-day moving average price of $12.39.

Fluence Energy (NASDAQ:FLNCGet Rating) last posted its quarterly earnings results on Monday, August 15th. The company reported ($0.99) earnings per share (EPS) for the quarter, missing the consensus estimate of ($0.33) by ($0.66). Fluence Energy had a negative return on equity of 25.55% and a negative net margin of 16.36%. The company had revenue of $239.01 million during the quarter, compared to the consensus estimate of $292.05 million.

Insiders Place Their Bets

In other Fluence Energy news, CFO Dennis Fehr sold 15,576 shares of Fluence Energy stock in a transaction dated Wednesday, September 14th. The stock was sold at an average price of $18.64, for a total transaction of $290,336.64. Following the transaction, the chief financial officer now directly owns 30,590 shares in the company, valued at $570,197.60. The transaction was disclosed in a filing with the SEC, which is accessible through this hyperlink. Corporate insiders own 0.01% of the company’s stock.

Institutional Inflows and Outflows

Several hedge funds and other institutional investors have recently added to or reduced their stakes in FLNC. Northern Trust Corp bought a new position in Fluence Energy during the fourth quarter worth about $4,496,000. HighTower Advisors LLC acquired a new stake in shares of Fluence Energy in the 4th quarter valued at about $545,000. Rhumbline Advisers acquired a new stake in shares of Fluence Energy in the 4th quarter valued at about $1,016,000. Invesco Ltd. acquired a new stake in shares of Fluence Energy in the 4th quarter valued at about $24,367,000. Finally, Schroder Investment Management Group acquired a new stake in shares of Fluence Energy in the 4th quarter valued at about $41,041,000. 21.33% of the stock is currently owned by institutional investors.

About Fluence Energy

(Get Rating)

Fluence Energy, Inc provides energy storage products and services, and artificial intelligence enabled digital applications for renewables and storage applications worldwide. The company sells energy storage products with integrated hardware, software, and digital intelligence, as well as engineering and delivery services to support the deployment of its storage products; operational and maintenance, and energy storage-as-a-service; and digital applications and solutions.

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