Fluence Energy (NASDAQ:FLNC) Shares Gap Down - What's Next?

Fluence Energy, Inc. (NASDAQ:FLNC - Get Free Report) shares gapped down prior to trading on Wednesday . The stock had previously closed at $17.04, but opened at $16.60. Fluence Energy shares last traded at $17.03, with a volume of 453,646 shares.

Analyst Upgrades and Downgrades

A number of analysts have commented on FLNC shares. Truist Financial upped their price objective on shares of Fluence Energy from $25.00 to $28.00 and gave the company a "buy" rating in a research note on Wednesday, October 16th. Canaccord Genuity Group reduced their price target on shares of Fluence Energy from $37.00 to $34.00 and set a "buy" rating for the company in a research report on Friday, November 29th. Jefferies Financial Group initiated coverage on shares of Fluence Energy in a research report on Wednesday, September 4th. They set a "buy" rating and a $26.00 price objective on the stock. Guggenheim restated a "buy" rating and issued a $26.00 target price on shares of Fluence Energy in a report on Friday, December 6th. Finally, BNP Paribas raised Fluence Energy from an "underperform" rating to a "neutral" rating and set a $22.00 target price for the company in a research report on Friday, November 8th. Six analysts have rated the stock with a hold rating and fourteen have assigned a buy rating to the company. According to data from MarketBeat.com, the stock presently has a consensus rating of "Moderate Buy" and an average target price of $26.65.

Fluence Energy Stock Down 5.7 %

The company's 50-day simple moving average is $19.99 and its 200 day simple moving average is $19.30. The stock has a market capitalization of $2.91 billion, a price-to-earnings ratio of 123.62, a P/E/G ratio of 0.54 and a beta of 2.39.

Fluence Energy (NASDAQ:FLNC - Get Free Report) last issued its quarterly earnings data on Monday, November 25th. The company reported $0.34 earnings per share for the quarter, beating analysts' consensus estimates 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 return on equity of 4.10% and a net margin of 0.89%. The firm's revenue was up 82.5% compared to the same quarter last year. During the same period last year, the business earned $0.02 EPS. On average, equities analysts expect that Fluence Energy, Inc. will post 0.56 earnings per share for the current fiscal year.

Hedge Funds Weigh In On Fluence Energy

Several large investors have recently made changes to their positions in the business. PARK CIRCLE Co acquired a new stake in Fluence Energy in the 2nd quarter valued at approximately $28,000. US Bancorp DE grew its stake in shares of Fluence Energy by 676.6% in the third quarter. US Bancorp DE now owns 1,693 shares of the company's stock worth $38,000 after acquiring an additional 1,475 shares during the last quarter. CWM LLC increased its position in Fluence Energy by 164.4% during the third quarter. CWM LLC now owns 2,842 shares of the company's stock worth $65,000 after acquiring an additional 1,767 shares during the period. Point72 DIFC Ltd acquired a new position in Fluence Energy during the 3rd quarter valued at $74,000. Finally, Blue Trust Inc. acquired a new position in Fluence Energy during the 2nd quarter valued at $58,000. Institutional investors and hedge funds 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.