Shares of Fluence Energy, Inc. (NASDAQ:FLNC - Get Free Report) saw unusually-strong trading volume on Wednesday . Approximately 6,155,309 shares changed hands during trading, an increase of 12% from the previous session's volume of 5,489,796 shares.The stock last traded at $6.97 and had previously closed at $7.00.
Wall Street Analysts Forecast Growth
Several equities analysts have recently issued reports on the stock. Guggenheim lowered shares of Fluence Energy from a "buy" rating to a "sell" rating and decreased their price target for the company from $26.00 to $6.00 in a report on Tuesday, February 11th. Wolfe Research lowered shares of Fluence Energy from an "outperform" rating to a "peer perform" rating in a report on Wednesday. Royal Bank of Canada lowered shares of Fluence Energy from an "outperform" rating to a "sector perform" rating and decreased their price target for the company from $25.00 to $7.00 in a report on Wednesday. Roth Capital lowered shares of Fluence Energy from a "strong-buy" rating to a "hold" rating in a report on Wednesday. Finally, Truist Financial decreased their price target on shares of Fluence Energy from $28.00 to $13.00 and set a "buy" rating for the company in a report on Wednesday. One analyst has rated the stock with a sell rating, fifteen have given a hold rating and eight have assigned a buy rating to the company's stock. Based on data from MarketBeat.com, Fluence Energy currently has a consensus rating of "Hold" and an average price target of $14.64.
Get Our Latest Analysis on Fluence Energy
Fluence Energy Stock Up 4.0 %
The stock's 50-day simple moving average is $14.60 and its 200 day simple moving average is $17.93. The company has a market cap of $1.16 billion, a price-to-earnings ratio of 49.46, a PEG ratio of 0.49 and a beta of 2.37.
Fluence Energy (NASDAQ:FLNC - Get Free Report) last issued its quarterly earnings results on Monday, February 10th. The company reported ($0.32) earnings per share (EPS) for the quarter, missing analysts' consensus estimates of ($0.17) by ($0.15). Fluence Energy had a return on equity of 4.10% and a net margin of 0.89%. On average, sell-side analysts expect that Fluence Energy, Inc. will post 0.48 EPS for the current fiscal year.
Insider Buying and Selling
In other news, Director Herman E. Bulls bought 30,000 shares of the business's stock in a transaction that occurred on Thursday, February 13th. The shares were purchased at an average cost of $6.53 per share, for a total transaction of $195,900.00. Following the completion of the purchase, the director now owns 105,861 shares of the company's stock, valued at approximately $691,272.33. This represents a 39.55 % increase in their ownership of the stock. The acquisition was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. Insiders own 0.65% of the company's stock.
Hedge Funds Weigh In On Fluence Energy
Several hedge funds have recently added to or reduced their stakes in FLNC. CWM LLC increased its stake in Fluence Energy by 164.4% in the third quarter. CWM LLC now owns 2,842 shares of the company's stock valued at $65,000 after purchasing an additional 1,767 shares during the last quarter. Blue Trust Inc. increased its stake in Fluence Energy by 45.3% in the third quarter. Blue Trust Inc. now owns 4,821 shares of the company's stock valued at $109,000 after purchasing an additional 1,502 shares during the last quarter. International Assets Investment Management LLC increased its stake in Fluence Energy by 2,170.9% in the third quarter. International Assets Investment Management LLC now owns 10,787 shares of the company's stock valued at $245,000 after purchasing an additional 10,312 shares during the last quarter. Mirae Asset Global Investments Co. Ltd. purchased a new position in Fluence Energy in the third quarter valued at approximately $1,375,000. Finally, US Bancorp DE increased its stake in Fluence Energy by 676.6% in the third 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. 53.16% of the stock is currently owned by hedge funds and other institutional investors.
About Fluence Energy
(
Get Free Report)
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.
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