Fluence Energy, Inc. (NASDAQ:FLNC - Get Free Report)'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.
Analyst Ratings Changes
FLNC has been the subject of a number of research reports. Citigroup lowered Fluence Energy from a "buy" rating to a "neutral" rating and lowered their target price for the company from $32.00 to $24.00 in a research note on Tuesday, October 1st. Baird R W cut shares of Fluence Energy from a "strong-buy" rating to a "hold" rating in a research report on Wednesday, December 18th. Piper Sandler upped their target price on shares of Fluence Energy from $18.00 to $20.00 and gave the stock a "neutral" rating in a research report on Wednesday, November 27th. Canaccord Genuity Group lowered their price target on shares of Fluence Energy from $37.00 to $34.00 and set a "buy" rating for the company in a report on Friday, November 29th. Finally, Bank of America reduced their price objective on Fluence Energy from $25.00 to $24.00 and set a "buy" rating on the stock in a report on Thursday, November 7th. Seven analysts have rated the stock with a hold rating and fourteen have assigned a buy rating to the stock. According to data from MarketBeat, the company has an average rating of "Moderate Buy" and an average target price of $26.65.
Check Out Our Latest Research Report on FLNC
Fluence Energy Trading Down 7.3 %
The firm's fifty day moving average price is $17.76 and its 200-day moving average price is $18.61. The company has a market cap of $2.62 billion, a price-to-earnings ratio of 111.08, a price-to-earnings-growth ratio of 0.53 and a beta of 2.42.
Fluence Energy (NASDAQ:FLNC - Get Free Report) last posted its earnings results on Monday, November 25th. The company reported $0.34 earnings per share (EPS) for the quarter, beating analysts' consensus estimates of $0.23 by $0.11. The firm had revenue of $1.23 billion during the quarter, compared to analysts' expectations of $1.28 billion. Fluence Energy had a return on equity of 4.10% and a net margin of 0.89%. The company's revenue was up 82.5% on a year-over-year basis. During the same period in the previous year, the firm earned $0.02 earnings per share. As a group, research analysts anticipate that Fluence Energy, Inc. will post 0.55 EPS for the current year.
Insider Buying and Selling
In other news, Director Herman E. Bulls purchased 10,000 shares of the business's stock in a transaction dated Monday, December 23rd. The shares were bought at an average cost of $15.57 per share, for a total transaction of $155,700.00. Following the completion of the acquisition, the director now directly owns 75,861 shares in the company, valued at approximately $1,181,155.77. This trade represents a 15.18 % increase in their position. The purchase was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through the SEC website. 0.41% of the stock is owned by company insiders.
Institutional Inflows and Outflows
Hedge funds have recently modified their holdings of the company. Sanders Morris Harris LLC bought a new position in Fluence Energy in the fourth quarter valued at $812,000. FMR LLC grew its holdings in shares of Fluence Energy by 9.0% in the 3rd quarter. FMR LLC now owns 1,606,100 shares of the company's stock valued at $36,475,000 after acquiring an additional 132,868 shares in the last quarter. Principal Financial Group Inc. bought a new position in shares of Fluence Energy in the 3rd quarter valued at about $5,742,000. Erste Asset Management GmbH acquired a new stake in shares of Fluence Energy in the third quarter valued at about $22,059,000. Finally, XTX Topco Ltd bought a new stake in Fluence Energy during the third quarter worth about $825,000. 53.16% of the stock is currently owned by institutional investors.
Fluence Energy Company Profile
(
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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