Fluence Energy (NASDAQ:FLNC) Shares Gap Up - Should You Buy?

Fluence Energy, Inc. (NASDAQ:FLNC - Get Free Report) shares gapped up prior to trading on Thursday . The stock had previously closed at $15.88, but opened at $16.51. Fluence Energy shares last traded at $16.54, with a volume of 295,135 shares changing hands.

Wall Street Analyst Weigh In

Several research firms recently commented on FLNC. BNP Paribas upgraded shares of Fluence Energy from an "underperform" rating to a "neutral" rating and set a $22.00 price target for the company in a report on Friday, November 8th. BMO Capital Markets lifted their target price on shares of Fluence Energy from $24.00 to $25.00 and gave the company an "outperform" rating in a research note on Monday, October 14th. Guggenheim reaffirmed a "buy" rating and issued a $26.00 price target on shares of Fluence Energy in a research note on Friday, December 6th. Canaccord Genuity Group reduced their price objective on Fluence Energy from $37.00 to $34.00 and set a "buy" rating for the company in a research report on Friday, November 29th. Finally, Citigroup lowered Fluence Energy from a "buy" rating to a "neutral" rating and dropped their target price for the stock from $32.00 to $24.00 in a research report on Tuesday, October 1st. Seven equities research analysts have rated the stock with a hold rating and fourteen have given a buy rating to the company's stock. According to data from MarketBeat.com, Fluence Energy currently has a consensus rating of "Moderate Buy" and an average price target of $26.65.

Fluence Energy Stock Performance

The stock has a market cap of $3.06 billion, a P/E ratio of 130.08, a P/E/G ratio of 0.54 and a beta of 2.39. The firm has a 50 day moving average of $18.77 and a two-hundred day moving average of $18.79.

Fluence Energy (NASDAQ:FLNC - Get Free Report) last issued its quarterly earnings results 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. Fluence Energy had a net margin of 0.89% and a return on equity of 4.10%. The firm had revenue of $1.23 billion during the quarter, compared to the consensus estimate of $1.28 billion. During the same period in the prior year, the firm earned $0.02 EPS. The business's revenue was up 82.5% on a year-over-year basis. On average, sell-side analysts anticipate that Fluence Energy, Inc. will post 0.56 EPS for the current fiscal year.

Insider Activity at Fluence Energy

In other Fluence Energy news, Director Herman E. Bulls acquired 10,000 shares of the company's stock in a transaction dated Monday, December 23rd. The stock was bought at an average price of $15.57 per share, for a total transaction of $155,700.00. Following the purchase, the director now owns 75,861 shares in the company, valued at $1,181,155.77. This represents a 15.18 % increase in their position. The transaction was disclosed in a filing with the SEC, which is available through this link. Corporate insiders own 0.41% of the company's stock.

Institutional Inflows and Outflows

Hedge funds have recently added to or reduced their stakes in the business. PARK CIRCLE Co bought a new stake in shares of Fluence Energy in the 2nd quarter valued at approximately $28,000. US Bancorp DE grew its position 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 acquiring an additional 1,475 shares during the period. CWM LLC raised its stake 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 in the last quarter. Point72 DIFC Ltd bought a new position in shares of Fluence Energy during the third quarter valued at $74,000. Finally, Point72 Asia Singapore Pte. Ltd. acquired a new stake in shares of Fluence Energy in the 3rd quarter valued at $87,000. Institutional investors and hedge funds own 53.16% of the company's stock.

About Fluence Energy

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.