Fluence Energy (NASDAQ:FLNC) Shares Gap Up to $15.88

Fluence Energy, Inc. (NASDAQ:FLNC)’s share price gapped up prior to trading on Wednesday . The stock had previously closed at $15.88, but opened at $16.42. Fluence Energy shares last traded at $16.24, with a volume of 204,085 shares trading hands.

Analyst Upgrades and Downgrades

FLNC has been the topic of several recent research reports. The Goldman Sachs Group cut their price target on Fluence Energy from $32.00 to $26.00 and set a “buy” rating on the stock in a report on Friday, March 22nd. Piper Sandler lowered their price objective on shares of Fluence Energy from $20.00 to $18.00 and set a “neutral” rating on the stock in a report on Friday, May 10th. Raymond James upgraded shares of Fluence Energy from a “market perform” rating to an “outperform” rating and set a $22.00 price objective for the company in a report on Wednesday, April 3rd. Roth Mkm restated a “buy” rating and issued a $27.00 target price (down previously from $31.00) on shares of Fluence Energy in a report on Friday, May 10th. Finally, Royal Bank of Canada reiterated an “outperform” rating and set a $29.00 price target on shares of Fluence Energy in a research note on Friday, June 14th. One equities research analyst has rated the stock with a sell rating, three have assigned a hold rating and thirteen have issued a buy rating to the company’s stock. According to MarketBeat, Fluence Energy presently has a consensus rating of “Moderate Buy” and an average target price of $28.56.

Fluence Energy Stock Up 7.6 %

The company’s 50-day moving average is $20.18 and its two-hundred day moving average is $19.21. The company has a market cap of $3.07 billion, a P/E ratio of -43.82 and a beta of 2.50.

Fluence Energy (NASDAQ:FLNC) last released its earnings results on Wednesday, May 8th. The company reported ($0.07) earnings per share for the quarter, meeting analysts’ consensus estimates of ($0.07). Fluence Energy had a negative net margin of 2.10% and a negative return on equity of 8.48%. The firm had revenue of $623.14 million during the quarter, compared to the consensus estimate of $538.42 million. During the same period in the prior year, the firm earned ($0.21) EPS. The company’s revenue was down 10.7% compared to the same quarter last year. On average, analysts anticipate that Fluence Energy, Inc. will post 0.11 EPS for the current fiscal year.

Institutional Inflows and Outflows

Several institutional investors and hedge funds have recently made changes to their positions in FLNC. DNB Asset Management AS purchased a new stake in Fluence Energy during the fourth quarter valued at about $666,000. Swiss National Bank boosted its holdings in Fluence Energy by 37.7% in the 4th quarter. Swiss National Bank now owns 123,900 shares of the company’s stock worth $2,955,000 after buying an additional 33,900 shares during the period. Schroder Investment Management Group grew its stake in Fluence Energy by 65.2% in the 3rd quarter. Schroder Investment Management Group now owns 2,694,654 shares of the company’s stock valued at $61,950,000 after buying an additional 1,063,609 shares in the last quarter. Wellington Management Group LLP bought a new stake in Fluence Energy during the 3rd quarter valued at $5,916,000. Finally, Norges Bank purchased a new stake in shares of Fluence Energy during the fourth quarter worth $13,931,000. Institutional investors 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.