Fluence Energy (NASDAQ:FLNC) Shares Gap Up – Still a Buy?

Fluence Energy, Inc. (NASDAQ:FLNC) gapped up before the market opened 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 trading hands.

Analyst Ratings Changes

FLNC has been the topic of several recent research reports. Truist Financial increased their price objective on shares of Fluence Energy from $25.00 to $28.00 and gave the stock a “buy” rating in a research note on Wednesday, October 16th. Piper Sandler boosted their price objective on shares of Fluence Energy from $18.00 to $20.00 and gave the company a “neutral” rating in a research report on Wednesday, November 27th. Canaccord Genuity Group decreased their target price on Fluence Energy from $37.00 to $34.00 and set a “buy” rating on the stock in a report on Friday, November 29th. Robert W. Baird reissued a “neutral” rating and set a $20.00 price target (down previously from $24.00) on shares of Fluence Energy in a report on Wednesday, December 18th. Finally, Citigroup downgraded Fluence Energy from a “buy” rating to a “neutral” rating and decreased their price objective for the stock from $32.00 to $24.00 in a research note on Tuesday, October 1st. Seven investment 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 stock has an average rating of “Moderate Buy” and a consensus price target of $26.65.

Fluence Energy Stock Up 2.6 %

The company has a market cap of $3.14 billion, a PE ratio of 133.46, a P/E/G ratio of 0.54 and a beta of 2.39. The stock’s 50 day moving average is $18.70 and its 200-day moving average is $18.77.

Fluence Energy (NASDAQ:FLNC) last released its quarterly earnings results on Monday, November 25th. The company reported $0.34 EPS for the quarter, topping the consensus estimate of $0.23 by $0.11. Fluence Energy had a return on equity of 4.10% and a net margin of 0.89%. The company had revenue of $1.23 billion during the quarter, compared to analyst estimates of $1.28 billion. During the same quarter last year, the business posted $0.02 earnings per share. The firm’s revenue was up 82.5% on a year-over-year basis. On average, 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 bought 10,000 shares of the company’s stock in a transaction on 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 acquisition, the director now directly owns 75,861 shares in the company, valued at approximately $1,181,155.77. The trade was a 15.18 % increase in their ownership of the stock. The transaction was disclosed in a legal filing with the SEC, which can be accessed through this hyperlink. 0.41% of the stock is currently owned by company insiders.

Hedge Funds Weigh In On Fluence Energy

A number of large investors have recently bought and sold shares of the business. US Bancorp DE raised its position in shares of Fluence Energy by 676.6% in the 3rd quarter. US Bancorp DE now owns 1,693 shares of the company’s stock worth $38,000 after acquiring an additional 1,475 shares in the last quarter. CWM LLC grew 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. Point72 DIFC Ltd bought a new position in Fluence Energy in the third quarter worth about $74,000. Point72 Asia Singapore Pte. Ltd. purchased a new stake in shares of Fluence Energy during the third quarter valued at about $87,000. Finally, Blue Trust Inc. boosted its holdings in shares of Fluence Energy by 45.3% in the 3rd quarter. Blue Trust Inc. now owns 4,821 shares of the company’s stock valued at $109,000 after buying an additional 1,502 shares in the last quarter. Institutional investors 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.