Fluence Energy (NASDAQ:FLNC) Shares Gap Down to $16.13

Shares of Fluence Energy, Inc. (NASDAQ:FLNCGet Rating) gapped down before the market opened on Thursday . The stock had previously closed at $16.13, but opened at $15.23. Fluence Energy shares last traded at $15.23, with a volume of 591 shares trading hands.

Analyst Upgrades and Downgrades

Several research analysts recently weighed in on the company. Royal Bank of Canada raised their target price on Fluence Energy from $18.00 to $23.00 and gave the company an “outperform” rating in a research note on Friday, September 2nd. JPMorgan Chase & Co. decreased their target price on Fluence Energy from $28.00 to $25.00 and set an “overweight” rating for the company in a research note on Thursday, October 20th. The Goldman Sachs Group upped their target price on Fluence Energy from $15.00 to $19.00 and gave the company a “neutral” rating in a report on Thursday, September 8th. Canaccord Genuity Group increased their price target on Fluence Energy from $16.00 to $20.00 and gave the company a “buy” rating in a research report on Wednesday, August 17th. Finally, Canaccord Genuity Group increased their price target on Fluence Energy from $16.00 to $20.00 and gave the company a “buy” rating in a research 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 stock. According to data from MarketBeat, the company presently has a consensus rating of “Moderate Buy” and a consensus price target of $29.72.

Fluence Energy Trading Down 2.1 %

The stock has a market capitalization of $2.71 billion and a price-to-earnings ratio of -7.96. The stock has a 50-day simple moving average of $15.14 and a 200 day simple moving average of $13.19.

Insiders Place Their Bets

In other Fluence Energy news, CFO Dennis Fehr sold 15,576 shares of the firm’s 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 completion of the sale, the chief financial officer now directly owns 30,590 shares in the company, valued at approximately $570,197.60. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available at this hyperlink. Corporate insiders own 0.01% of the company’s stock.

Institutional Investors Weigh In On Fluence Energy

Several institutional investors have recently made changes to their positions in FLNC. Sandia Investment Management LP acquired a new stake in shares of Fluence Energy during the 3rd quarter valued at about $36,000. Point72 Hong Kong Ltd acquired a new stake in shares of Fluence Energy during the 2nd quarter valued at about $39,000. DekaBank Deutsche Girozentrale acquired a new stake in shares of Fluence Energy during the 3rd quarter valued at about $48,000. Legal & General Group Plc lifted its holdings in shares of Fluence Energy by 107.9% during the 2nd quarter. Legal & General Group Plc now owns 5,940 shares of the company’s stock valued at $56,000 after buying an additional 3,083 shares during the last quarter. Finally, Exchange Traded Concepts LLC acquired a new stake in shares of Fluence Energy during the 3rd quarter valued at about $57,000. 21.33% of the stock is currently owned by institutional investors and hedge funds.

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.

Featured Articles

Receive News & Ratings for Fluence Energy Daily - Enter your email address below to receive a concise daily summary of the latest news and analysts' ratings for Fluence Energy and related companies with MarketBeat.com's FREE daily email newsletter.