Fluence Energy (NASDAQ:FLNC) Shares Gap Down – Time to Sell?

Fluence Energy, Inc. (NASDAQ:FLNC)’s share price gapped down before the market opened on Tuesday . The stock had previously closed at $18.52, but opened at $16.19. Fluence Energy shares last traded at $16.92, with a volume of 1,154,419 shares traded.

Analysts Set New Price Targets

A number of brokerages have recently issued reports on FLNC. Piper Sandler boosted their price target on shares of Fluence Energy from $18.00 to $20.00 and gave the stock a “neutral” rating in a research note on Wednesday, November 27th. Royal Bank of Canada lowered their price objective on shares of Fluence Energy from $28.00 to $27.00 and set an “outperform” rating on the stock in a research note on Wednesday, November 27th. BNP Paribas upgraded shares of Fluence Energy from an “underperform” rating to a “neutral” rating and set a $22.00 price target on the stock in a research report on Friday, November 8th. Canaccord Genuity Group reduced their target price on Fluence Energy from $37.00 to $34.00 and set a “buy” rating on the stock in a research note on Friday, November 29th. Finally, Citigroup downgraded Fluence Energy from a “buy” rating to a “neutral” rating and dropped their price target for the stock from $32.00 to $24.00 in a research report on Tuesday, October 1st. Five analysts have rated the stock with a hold rating and fifteen have issued a buy rating to the company’s stock. According to MarketBeat, the company presently has an average rating of “Moderate Buy” and an average price target of $26.85.

Fluence Energy Stock Performance

The stock has a fifty day moving average price of $20.54 and a 200-day moving average price of $19.61. The firm has a market cap of $3.00 billion, a PE ratio of 130.15, a PEG ratio of 0.55 and a beta of 2.39.

Fluence Energy (NASDAQ:FLNC) last issued its earnings results on Monday, November 25th. The company reported $0.34 EPS 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 business had revenue of $1.23 billion for the quarter, compared to the consensus estimate of $1.28 billion. During the same quarter last year, the firm posted $0.02 EPS. The business’s revenue for the quarter was up 82.5% compared to the same quarter last year. As a group, equities analysts predict that Fluence Energy, Inc. will post 0.56 earnings per share for the current fiscal year.

Institutional Trading of Fluence Energy

A number of institutional investors and hedge funds have recently made changes to their positions in the stock. Handelsbanken Fonder AB raised its holdings in shares of Fluence Energy by 47.3% during the third quarter. Handelsbanken Fonder AB now owns 6,376,024 shares of the company’s stock valued at $144,800,000 after buying an additional 2,047,063 shares during the last quarter. FMR LLC boosted its stake in Fluence Energy by 9.0% during the 3rd quarter. FMR LLC now owns 1,606,100 shares of the company’s stock valued at $36,475,000 after purchasing an additional 132,868 shares in the last quarter. Lazard Freres Gestion S.A.S. acquired a new position in shares of Fluence Energy in the 2nd quarter worth approximately $26,877,000. Geode Capital Management LLC boosted its holdings in Fluence Energy by 4.2% during the third quarter. Geode Capital Management LLC now owns 1,508,003 shares of the company’s stock worth $34,253,000 after buying an additional 60,633 shares in the last quarter. Finally, Clearbridge Investments LLC boosted its stake in shares of Fluence Energy by 1.6% during the 2nd quarter. Clearbridge Investments LLC now owns 1,500,841 shares of the company’s stock worth $26,025,000 after acquiring an additional 23,927 shares in the last quarter. 53.16% of the stock is currently owned by institutional investors and hedge funds.

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.