Fluence Energy (NASDAQ:FLNC) Shares Gap Up – What’s Next?

Fluence Energy, Inc. (NASDAQ:FLNC)’s share price gapped up prior to trading on Thursday . The stock had previously closed at $13.25, but opened at $14.06. Fluence Energy shares last traded at $14.53, with a volume of 918,629 shares changing hands.

Analysts Set New Price Targets

FLNC has been the subject of a number of recent analyst reports. Bank of America cut their price objective on shares of Fluence Energy from $25.00 to $20.00 and set a “buy” rating for the company in a report on Tuesday. BMO Capital Markets boosted their price target on shares of Fluence Energy from $24.00 to $25.00 and gave the stock an “outperform” rating in a research note on Monday, October 14th. Truist Financial boosted their target price on Fluence Energy from $25.00 to $28.00 and gave the stock a “buy” rating in a research note on Wednesday, October 16th. BNP Paribas upgraded Fluence Energy from an “underperform” rating to a “neutral” rating and set a $22.00 price target on the stock in a research note on Friday, November 8th. Finally, Jefferies Financial Group cut shares of Fluence Energy from a “buy” rating to a “hold” rating and dropped their price objective for the company from $22.00 to $15.00 in a research note on Wednesday, January 22nd. Eight investment analysts have rated the stock with a hold rating and thirteen have issued a buy rating to the company. Based on data from MarketBeat, the company has an average rating of “Moderate Buy” and an average price target of $25.60.

Fluence Energy Stock Up 7.0 %

The stock’s fifty day simple moving average is $16.65 and its 200 day simple moving average is $18.41. The firm has a market capitalization of $2.57 billion, a PE ratio of 108.35, a PEG ratio of 0.44 and a beta of 2.42.

Fluence Energy (NASDAQ:FLNC) last posted its quarterly earnings data 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 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 analyst estimates of $1.28 billion. During the same quarter in the previous year, the business posted $0.02 EPS. Fluence Energy’s revenue was up 82.5% on a year-over-year basis. On average, analysts predict that Fluence Energy, Inc. will post 0.55 EPS for the current year.

Insiders Place Their Bets

In related news, Director Herman E. Bulls acquired 10,000 shares of Fluence Energy stock in a transaction on Monday, December 23rd. The shares were bought at an average price of $15.57 per share, for a total transaction of $155,700.00. Following the completion of the purchase, the director now directly owns 75,861 shares in the company, valued at $1,181,155.77. This trade represents a 15.18 % increase in their position. The purchase was disclosed in a document filed with the SEC, which can be accessed through the SEC website. 0.41% of the stock is owned by company insiders.

Hedge Funds Weigh In On Fluence Energy

Several hedge funds have recently modified their holdings of the company. Dimensional Fund Advisors LP lifted its stake in Fluence Energy by 40.7% during the second quarter. Dimensional Fund Advisors LP now owns 735,183 shares of the company’s stock worth $12,755,000 after purchasing an additional 212,654 shares during the period. Hsbc Holdings PLC increased its holdings in Fluence Energy by 3.8% during the second quarter. Hsbc Holdings PLC now owns 24,250 shares of the company’s stock worth $420,000 after buying an additional 897 shares during the last quarter. ProShare Advisors LLC increased its position in Fluence Energy by 17.0% during the second quarter. ProShare Advisors LLC now owns 12,328 shares of the company’s stock worth $214,000 after buying an additional 1,789 shares during the last quarter. Marshall Wace LLP increased its position in Fluence Energy by 219.1% during the 2nd quarter. Marshall Wace LLP now owns 114,100 shares of the company’s stock worth $1,978,000 after buying an additional 78,344 shares during the period. Finally, The Manufacturers Life Insurance Company increased its holdings in shares of Fluence Energy by 7.2% during the second quarter. The Manufacturers Life Insurance Company now owns 35,610 shares of the company’s stock worth $617,000 after purchasing an additional 2,389 shares during the period. 53.16% of the stock is currently owned by institutional investors and hedge funds.

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.