Fluence Energy (NASDAQ:FLNC) Trading Down 5.9% – What’s Next?

Fluence Energy, Inc. (NASDAQ:FLNC)’s stock price was down 5.9% during trading on Thursday . The stock traded as low as $14.92 and last traded at $15.12. Approximately 2,471,491 shares traded hands during trading, an increase of 5% from the average daily volume of 2,361,717 shares. The stock had previously closed at $16.07.

Wall Street Analyst Weigh In

Several brokerages recently issued reports on FLNC. Royal Bank of Canada cut their price target on Fluence Energy from $28.00 to $27.00 and set an “outperform” rating on the stock in a report on Wednesday, November 27th. Canaccord Genuity Group cut 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. 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 research report on Friday, November 8th. Citigroup downgraded shares of Fluence Energy from a “buy” rating to a “neutral” rating and cut their price objective for the company from $32.00 to $24.00 in a research report on Tuesday, October 1st. Finally, Truist Financial upped their target price on shares of Fluence Energy from $25.00 to $28.00 and gave the stock a “buy” rating in a research report on Wednesday, October 16th. Seven equities research analysts have rated the stock with a hold rating and fourteen have issued a buy rating to the stock. According to data from MarketBeat, Fluence Energy currently has an average rating of “Moderate Buy” and a consensus target price of $26.65.

Fluence Energy Price Performance

The business has a fifty day moving average of $19.64 and a 200-day moving average of $19.18. The stock has a market capitalization of $2.75 billion, a price-to-earnings ratio of 117.00, a price-to-earnings-growth ratio of 0.54 and a beta of 2.39.

Fluence Energy (NASDAQ:FLNC) last announced its quarterly earnings data on Monday, November 25th. The company reported $0.34 earnings per share (EPS) for the quarter, topping the consensus estimate of $0.23 by $0.11. Fluence Energy had a net margin of 0.89% and a return on equity of 4.10%. The company had revenue of $1.23 billion for the quarter, compared to analysts’ expectations of $1.28 billion. During the same quarter in the previous year, the company posted $0.02 EPS. The business’s revenue was up 82.5% compared to the same quarter last year. As a group, research analysts anticipate that Fluence Energy, Inc. will post 0.56 EPS for the current year.

Institutional Investors Weigh In On Fluence Energy

A number of institutional investors and hedge funds have recently modified their holdings of FLNC. Principal Financial Group Inc. acquired a new stake in shares of Fluence Energy during the third quarter valued at approximately $5,742,000. Franklin Resources Inc. grew its position in Fluence Energy by 11.8% during the third quarter. Franklin Resources Inc. now owns 166,613 shares of the company’s stock valued at $3,644,000 after purchasing an additional 17,551 shares in the last quarter. Geode Capital Management LLC increased its stake in Fluence Energy by 4.2% in the 3rd quarter. Geode Capital Management LLC now owns 1,508,003 shares of the company’s stock valued at $34,253,000 after buying an additional 60,633 shares during the period. Duff & Phelps Investment Management Co. lifted its position in Fluence Energy by 76.2% in the 3rd quarter. Duff & Phelps Investment Management Co. now owns 25,760 shares of the company’s stock worth $585,000 after buying an additional 11,138 shares in the last quarter. Finally, Barclays PLC boosted its stake in shares of Fluence Energy by 296.8% during the 3rd quarter. Barclays PLC now owns 181,766 shares of the company’s stock valued at $4,127,000 after buying an additional 135,957 shares during the period. 53.16% of the stock is 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.