Fluence Energy (NASDAQ:FLNC) Shares Gap Up to $13.35

Fluence Energy, Inc. (NASDAQ:FLNCGet Rating) shares gapped up before the market opened on Thursday . The stock had previously closed at $13.35, but opened at $14.68. Fluence Energy shares last traded at $15.26, with a volume of 6,000 shares traded.

Wall Street Analyst Weigh In

Several equities research analysts have recently weighed in on FLNC shares. Evercore ISI increased their price target on Fluence Energy to $23.00 in a research note on Monday, August 22nd. The Goldman Sachs Group increased their target price on shares of Fluence Energy from $15.00 to $19.00 and gave the company a “neutral” rating in a research report on Thursday, September 8th. Royal Bank of Canada boosted their price target on shares of Fluence Energy from $18.00 to $23.00 and gave the stock an “outperform” rating in a research report on Friday, September 2nd. Morgan Stanley increased their price objective on shares of Fluence Energy from $17.00 to $18.00 and gave the stock an “equal weight” rating in a research report on Thursday, September 22nd. Finally, Canaccord Genuity Group boosted their target price on shares of Fluence Energy from $16.00 to $20.00 and gave the company a “buy” rating in a report on Wednesday, August 17th. One research analyst has rated the stock with a sell rating, five have given a hold rating and fifteen have issued a buy rating to the company’s stock. Based on data from MarketBeat, the company currently has a consensus rating of “Moderate Buy” and a consensus target price of $29.72.

Fluence Energy Price Performance

The company has a fifty day moving average price of $15.41 and a 200 day moving average price of $12.96. The stock has a market cap of $2.60 billion and a P/E ratio of -7.63.

Fluence Energy (NASDAQ:FLNCGet Rating) last announced its quarterly earnings results on Monday, August 15th. The company reported ($0.99) EPS for the quarter, missing analysts’ consensus estimates of ($0.33) by ($0.66). The business had revenue of $239.01 million for the quarter, compared to the consensus estimate of $292.05 million. Fluence Energy had a negative net margin of 16.36% and a negative return on equity of 25.55%. As a group, sell-side analysts expect that Fluence Energy, Inc. will post -1.5 earnings per share for the current fiscal year.

Insider Transactions at Fluence Energy

In related news, CFO Dennis Fehr sold 15,576 shares of the firm’s stock in a transaction dated Wednesday, September 14th. The shares were sold at an average price of $18.64, for a total value of $290,336.64. Following the transaction, the chief financial officer now owns 30,590 shares of the company’s stock, valued at approximately $570,197.60. The sale was disclosed in a legal filing with the SEC, which is available through this hyperlink. 0.01% of the stock is currently owned by insiders.

Institutional Trading of Fluence Energy

A number of hedge funds have recently bought and sold shares of FLNC. Amundi purchased a new stake in Fluence Energy in the second quarter worth $20,097,000. Invesco Ltd. lifted its holdings in shares of Fluence Energy by 109.7% in the first quarter. Invesco Ltd. now owns 1,437,240 shares of the company’s stock worth $18,842,000 after buying an additional 752,009 shares in the last quarter. Handelsbanken Fonder AB boosted its holdings in Fluence Energy by 140.3% in the 1st quarter. Handelsbanken Fonder AB now owns 1,205,379 shares of the company’s stock valued at $15,803,000 after purchasing an additional 703,830 shares during the period. Deutsche Bank AG boosted its stake in Fluence Energy by 164.0% during the second quarter. Deutsche Bank AG now owns 899,623 shares of the company’s stock valued at $8,528,000 after buying an additional 558,842 shares during the period. Finally, Electron Capital Partners LLC raised its holdings in shares of Fluence Energy by 29.8% in the 1st quarter. Electron Capital Partners LLC now owns 2,333,871 shares of the company’s stock valued at $30,597,000 after acquiring an additional 535,160 shares in the last quarter. 21.33% of the stock is currently owned by institutional investors.

Fluence Energy Company Profile

(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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