Fluence Energy (NASDAQ:FLNC) Shares Gap Up to $17.36

Fluence Energy, Inc. (NASDAQ:FLNCGet Rating) gapped up before the market opened on Wednesday . The stock had previously closed at $17.36, but opened at $17.96. Fluence Energy shares last traded at $17.87, with a volume of 2,431 shares.

Analysts Set New Price Targets

Several research firms have weighed in on FLNC. JPMorgan Chase & Co. upped their target price on Fluence Energy from $25.00 to $28.00 and gave the stock an “overweight” rating in a research note on Monday, August 8th. Canaccord Genuity Group upped their target price on Fluence Energy from $16.00 to $20.00 and gave the stock a “buy” rating in a research note on Wednesday, August 17th. Royal Bank of Canada upped their target price on Fluence Energy from $18.00 to $23.00 and gave the stock an “outperform” rating in a research note on Friday, September 2nd. The Goldman Sachs Group upped their target price on Fluence Energy from $15.00 to $19.00 and gave the stock a “neutral” rating in a research note on Thursday, September 8th. Finally, Canaccord Genuity Group upped their target price on Fluence Energy from $16.00 to $20.00 and gave the stock a “buy” rating in a research note on Wednesday, August 17th. One analyst has rated the stock with a sell rating, five have issued a hold rating and fifteen have given a buy rating to the stock. Based on data from MarketBeat, the company currently has an average rating of “Moderate Buy” and a consensus target price of $29.89.

Fluence Energy Price Performance

The firm has a market capitalization of $2.69 billion and a price-to-earnings ratio of -7.90. The stock has a fifty day moving average of $16.17 and a two-hundred day moving average of $12.39.

Fluence Energy (NASDAQ:FLNCGet Rating) last posted its quarterly earnings data on Monday, August 15th. The company reported ($0.99) earnings per share for the quarter, missing analysts’ consensus estimates of ($0.33) by ($0.66). The company had revenue of $239.01 million during the quarter, compared to analyst estimates of $292.05 million. Fluence Energy had a negative net margin of 16.36% and a negative return on equity of 25.55%.

Insider Buying and Selling at Fluence Energy

In other Fluence Energy news, CFO Dennis Fehr sold 15,576 shares of the company’s stock in a transaction on Wednesday, September 14th. The shares were sold at an average price of $18.64, for a total transaction of $290,336.64. Following the sale, the chief financial officer now owns 30,590 shares of the company’s stock, valued at $570,197.60. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through this hyperlink. Insiders own 0.01% of the company’s stock.

Institutional Trading of Fluence Energy

A number of institutional investors have recently bought and sold shares of the company. Point72 Hong Kong Ltd bought a new position in shares of Fluence Energy during the 2nd quarter worth about $39,000. Legal & General Group Plc boosted its position in shares of Fluence Energy by 107.9% during the 2nd quarter. Legal & General Group Plc now owns 5,940 shares of the company’s stock worth $56,000 after purchasing an additional 3,083 shares in the last quarter. Quantbot Technologies LP bought a new position in shares of Fluence Energy during the 1st quarter worth about $69,000. Autonomy Capital Jersey L.P. bought a new position in shares of Fluence Energy during the 1st quarter worth about $95,000. Finally, Private Advisor Group LLC bought a new position in shares of Fluence Energy during the 2nd quarter worth about $100,000. Institutional investors own 21.33% of the company’s stock.

Fluence Energy Company Profile

(Get Rating)

Fluence Energy, Inc provides energy storage products and services, and artificial intelligence enabled digital applications for renewables and storage applications worldwide. The company sells energy storage products with integrated hardware, software, and digital intelligence, as well as engineering and delivery services to support the deployment of its storage products; operational and maintenance, and energy storage-as-a-service; and digital applications and solutions.

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