Fluence Energy (NASDAQ:FLNC) Shares Gap Down – Time to Sell?

Fluence Energy, Inc. (NASDAQ:FLNC)’s share price gapped down prior to trading 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 changing hands.

Wall Street Analysts Forecast Growth

Several analysts have weighed in on the company. 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 report on Friday, November 8th. BMO Capital Markets boosted their price target on shares of Fluence Energy from $24.00 to $25.00 and gave the stock an “outperform” rating in a research note on Monday, October 14th. Piper Sandler raised their price objective on shares of Fluence Energy from $18.00 to $20.00 and gave the company a “neutral” rating in a research note on Wednesday, November 27th. Guggenheim reissued a “buy” rating and issued a $26.00 price target on shares of Fluence Energy in a research note on Friday, December 6th. Finally, Citigroup lowered Fluence Energy from a “buy” rating to a “neutral” rating and reduced their price target for the stock from $32.00 to $24.00 in a research report on Tuesday, October 1st. Seven research analysts have rated the stock with a hold rating and fourteen have assigned a buy rating to the company’s stock. According to data from MarketBeat, the stock has an average rating of “Moderate Buy” and an average target price of $26.65.

Fluence Energy Price Performance

The company has a market capitalization of $2.63 billion, a P/E ratio of 111.85, a price-to-earnings-growth ratio of 0.53 and a beta of 2.42. The company’s 50-day moving average price is $17.89 and its two-hundred day moving average price is $18.61.

Fluence Energy (NASDAQ:FLNC) last released its quarterly earnings results on Monday, November 25th. The company reported $0.34 EPS for the quarter, beating the consensus estimate of $0.23 by $0.11. The business had revenue of $1.23 billion for the quarter, compared to the consensus estimate of $1.28 billion. Fluence Energy had a net margin of 0.89% and a return on equity of 4.10%. Fluence Energy’s revenue was up 82.5% compared to the same quarter last year. During the same period in the prior year, the company posted $0.02 earnings per share. On average, analysts anticipate 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 acquired 10,000 shares of the firm’s stock in a transaction that occurred on Monday, December 23rd. The shares were acquired at an average cost of $15.57 per share, with a total value of $155,700.00. Following the completion of the purchase, the director now directly owns 75,861 shares of the company’s stock, valued at $1,181,155.77. The trade was a 15.18 % increase in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available through this link. 0.41% of the stock is owned by company insiders.

Hedge Funds Weigh In On Fluence Energy

Several hedge funds and other institutional investors have recently modified their holdings of FLNC. Rhumbline Advisers raised its stake in Fluence Energy by 19.1% during the second quarter. Rhumbline Advisers now owns 93,380 shares of the company’s stock worth $1,619,000 after acquiring an additional 14,992 shares in the last quarter. Federated Hermes Inc. increased its holdings in Fluence Energy by 9.6% in the 2nd quarter. Federated Hermes Inc. now owns 21,069 shares of the company’s stock worth $365,000 after purchasing an additional 1,851 shares in the last quarter. Dimensional Fund Advisors LP raised its holdings in Fluence Energy by 40.7% in the 2nd quarter. Dimensional Fund Advisors LP now owns 735,183 shares of the company’s stock valued at $12,755,000 after buying an additional 212,654 shares during the last quarter. Hsbc Holdings PLC boosted its position in Fluence Energy by 3.8% during the 2nd quarter. Hsbc Holdings PLC now owns 24,250 shares of the company’s stock worth $420,000 after buying an additional 897 shares during the period. Finally, Ensign Peak Advisors Inc acquired a new position in Fluence Energy in the 2nd quarter valued at approximately $510,000. Institutional investors own 53.16% of the company’s stock.

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.