Fluence Energy (NASDAQ:FLNC) Shares Down 4.3% – Time to Sell?

Fluence Energy, Inc. (NASDAQ:FLNC)’s stock price was down 4.3% during mid-day trading on Thursday . The stock traded as low as $20.23 and last traded at $20.47. Approximately 235,939 shares traded hands during mid-day trading, a decline of 90% from the average daily volume of 2,266,698 shares. The stock had previously closed at $21.39.

Wall Street Analyst Weigh In

FLNC has been the topic of a number of recent research reports. Jefferies Financial Group initiated coverage on Fluence Energy in a research report on Wednesday, September 4th. They issued a “buy” rating and a $26.00 target price on the stock. Robert W. Baird decreased their target price on shares of Fluence Energy from $34.00 to $27.00 and set an “outperform” rating for the company in a research report on Friday, August 9th. Piper Sandler reduced their price objective on Fluence Energy from $18.00 to $16.00 and set a “neutral” rating for the company in a research note on Monday, July 22nd. Scotiabank upgraded Fluence Energy to a “hold” rating in a research note on Friday, July 12th. Finally, JPMorgan Chase & Co. lifted their price target on Fluence Energy from $25.00 to $28.00 and gave the company an “overweight” rating in a research report on Tuesday, July 16th. One equities research analyst has rated the stock with a sell rating, four have assigned a hold rating and fourteen have given a buy rating to the company’s stock. Based on data from MarketBeat.com, Fluence Energy currently has a consensus rating of “Moderate Buy” and a consensus price target of $26.21.

Fluence Energy Price Performance

The firm has a market cap of $3.89 billion, a price-to-earnings ratio of -55.64, a PEG ratio of 0.75 and a beta of 2.54. The business has a fifty day simple moving average of $19.43 and a 200 day simple moving average of $18.78.

Insider Activity at Fluence Energy

In other Fluence Energy news, Director Herman E. Bulls bought 10,000 shares of the stock in a transaction on Tuesday, August 13th. The shares were bought at an average price of $16.81 per share, with a total value of $168,100.00. Following the purchase, the director now directly owns 65,861 shares in the company, valued at $1,107,123.41. This trade represents a 0.00 % increase in their position. The transaction was disclosed in a legal filing with the SEC, which is available through this hyperlink. 0.41% of the stock is owned by corporate insiders.

Institutional Inflows and Outflows

A number of institutional investors have recently bought and sold shares of the business. PARK CIRCLE Co acquired a new stake in shares of Fluence Energy in the second quarter valued at approximately $28,000. Pflug Koory LLC acquired a new stake in shares of Fluence Energy in the 1st quarter worth $35,000. Baillie Gifford & Co. purchased a new position in shares of Fluence Energy during the 1st quarter worth $38,000. Quarry LP acquired a new position in shares of Fluence Energy during the 4th quarter valued at about $38,000. Finally, GAMMA Investing LLC grew its holdings in shares of Fluence Energy by 264.9% in the second quarter. GAMMA Investing LLC now owns 2,956 shares of the company’s stock valued at $51,000 after purchasing an additional 2,146 shares during the period. 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.