Fluence Energy (NASDAQ:FLNC) Shares Down 5.5% – What’s Next?

Fluence Energy, Inc. (NASDAQ:FLNC) dropped 5.5% during mid-day trading on Wednesday . The company traded as low as $17.30 and last traded at $17.33. Approximately 1,138,656 shares were traded during trading, a decline of 49% from the average daily volume of 2,236,086 shares. The stock had previously closed at $18.33.

Analyst Upgrades and Downgrades

A number of research analysts recently commented on the company. Royal Bank of Canada reduced their target price 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. BNP Paribas raised Fluence Energy from an “underperform” rating to a “neutral” rating and set a $22.00 price objective on the stock in a report on Friday, November 8th. Robert W. Baird cut their target price on Fluence Energy from $27.00 to $24.00 and set an “outperform” rating for the company in a research note on Wednesday, November 27th. Truist Financial lifted their price target on shares of Fluence Energy from $25.00 to $28.00 and gave the stock a “buy” rating in a research note on Wednesday, October 16th. Finally, BMO Capital Markets upped their price objective on shares of Fluence Energy from $24.00 to $25.00 and gave the company an “outperform” rating in a research note on Monday, October 14th. Five research analysts have rated the stock with a hold rating and fifteen have assigned a buy rating to the stock. According to MarketBeat, the stock currently has a consensus rating of “Moderate Buy” and a consensus price target of $26.85.

Fluence Energy Stock Performance

The firm has a market cap of $3.04 billion, a P/E ratio of 129.54, a price-to-earnings-growth ratio of 0.61 and a beta of 2.39. The business has a 50-day simple moving average of $20.74 and a 200 day simple moving average of $19.63.

Fluence Energy (NASDAQ:FLNC) last announced its earnings results on Monday, November 25th. The company reported $0.34 EPS for the quarter, beating analysts’ consensus estimates of $0.23 by $0.11. Fluence Energy had a return on equity of 4.10% and a net margin of 0.89%. The company had revenue of $1.23 billion during the quarter, compared to the consensus estimate of $1.28 billion. During the same quarter in the prior year, the company earned $0.02 earnings per share. The firm’s revenue for the quarter was up 82.5% on a year-over-year basis. On average, research analysts expect that Fluence Energy, Inc. will post 0.54 EPS for the current year.

Institutional Investors Weigh In On Fluence Energy

Several institutional investors and hedge funds have recently modified their holdings of the stock. PARK CIRCLE Co purchased a new stake in Fluence Energy in the second quarter worth about $28,000. US Bancorp DE raised its position in shares of Fluence Energy by 676.6% in the 3rd quarter. US Bancorp DE now owns 1,693 shares of the company’s stock worth $38,000 after acquiring an additional 1,475 shares in the last quarter. GAMMA Investing LLC lifted its stake in shares of Fluence Energy by 264.9% in the 2nd 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. Blue Trust Inc. bought a new stake in shares of Fluence Energy during the second quarter valued at approximately $58,000. Finally, CWM LLC grew its stake in Fluence Energy by 164.4% in the third quarter. CWM LLC now owns 2,842 shares of the company’s stock worth $65,000 after purchasing an additional 1,767 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.