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

Fluence Energy, Inc. (NASDAQ:FLNC)’s share price gapped up before the market opened 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 traded.

Wall Street Analysts Forecast Growth

FLNC has been the subject of several analyst reports. Truist Financial raised 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. Baird R W downgraded shares of Fluence Energy from a “strong-buy” rating to a “hold” rating in a research note on Wednesday, December 18th. Canaccord Genuity Group dropped their price target on shares of Fluence Energy from $37.00 to $34.00 and set a “buy” rating for the company in a research note on Friday, November 29th. BMO Capital Markets lifted their price target on shares of Fluence Energy from $24.00 to $25.00 and gave the company an “outperform” rating in a research report on Monday, October 14th. Finally, Royal Bank of Canada decreased their price target on Fluence Energy from $28.00 to $27.00 and set an “outperform” rating on the stock in a research note on Wednesday, November 27th. Eight equities research analysts have rated the stock with a hold rating and thirteen have assigned a buy rating to the company’s stock. According to data from MarketBeat, the stock has a consensus rating of “Moderate Buy” and a consensus target price of $25.60.

Fluence Energy Trading Down 5.9 %

The company has a market cap of $2.36 billion, a PE ratio of 100.08, a P/E/G ratio of 0.48 and a beta of 2.42. The company has a fifty day simple moving average of $16.30 and a two-hundred day simple moving average of $18.35.

Fluence Energy (NASDAQ:FLNC) last issued its earnings results on Monday, November 25th. The company reported $0.34 earnings per share for the quarter, beating 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 for the quarter, compared to analysts’ expectations of $1.28 billion. During the same quarter last year, the company earned $0.02 earnings per share. The firm’s revenue was up 82.5% compared to the same quarter last year. On average, research analysts anticipate that Fluence Energy, Inc. will post 0.52 EPS for the current fiscal year.

Insider Transactions at Fluence Energy

In related news, Director Herman E. Bulls acquired 10,000 shares of the business’s stock in a transaction on Monday, December 23rd. The shares were bought at an average price of $15.57 per share, with a total value of $155,700.00. Following the completion of the acquisition, the director now owns 75,861 shares in the company, valued at $1,181,155.77. This trade represents a 15.18 % increase in their ownership of the stock. The acquisition was disclosed in a legal filing with the SEC, which can be accessed through this link. Corporate insiders own 0.41% of the company’s stock.

Institutional Inflows and Outflows

A number of hedge funds have recently modified their holdings of FLNC. US Bancorp DE grew its stake in Fluence Energy by 676.6% during the 3rd quarter. US Bancorp DE now owns 1,693 shares of the company’s stock worth $38,000 after buying an additional 1,475 shares during the last quarter. CWM LLC increased its holdings in shares of Fluence Energy by 164.4% in the 3rd quarter. CWM LLC now owns 2,842 shares of the company’s stock valued at $65,000 after acquiring an additional 1,767 shares during the period. Point72 DIFC Ltd purchased a new stake in Fluence Energy in the 3rd quarter valued at $74,000. Householder Group Estate & Retirement Specialist LLC acquired a new stake in Fluence Energy during the 4th quarter worth $79,000. Finally, Point72 Asia Singapore Pte. Ltd. purchased a new position in Fluence Energy during the 3rd quarter worth $87,000. 53.16% of the stock is owned by hedge funds and other institutional investors.

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.