Fluence Energy (NASDAQ:FLNC) Trading Down 5.9% – What’s Next?

Fluence Energy, Inc. (NASDAQ:FLNC) shares traded down 5.9% on Thursday . The stock traded as low as $14.92 and last traded at $15.12. 2,471,491 shares changed hands during mid-day trading, an increase of 5% from the average session volume of 2,361,717 shares. The stock had previously closed at $16.07.

Analysts Set New Price Targets

A number of equities analysts have weighed in on FLNC shares. Truist Financial boosted their target price 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. Jefferies Financial Group started coverage on shares of Fluence Energy in a research report on Wednesday, September 4th. They issued a “buy” rating and a $26.00 price objective for the company. Baird R W lowered Fluence Energy from a “strong-buy” rating to a “hold” rating in a research report on Wednesday. Bank of America dropped their target price on Fluence Energy from $25.00 to $24.00 and set a “buy” rating for the company in a research report on Thursday, November 7th. Finally, 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 report on Friday, November 8th. Seven analysts have rated the stock with a hold rating and fourteen have given a buy rating to the company. Based on data from MarketBeat, the stock currently has an average rating of “Moderate Buy” and a consensus target price of $26.65.

Fluence Energy Stock Down 6.7 %

The company’s fifty day simple moving average is $19.88 and its two-hundred day simple moving average is $19.28. The company has a market capitalization of $2.72 billion, a price-to-earnings ratio of 115.38, a price-to-earnings-growth ratio of 0.54 and a beta of 2.39.

Fluence Energy (NASDAQ:FLNC) last issued 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 return on equity of 4.10% and a net margin of 0.89%. The business had revenue of $1.23 billion for the quarter, compared to the consensus estimate of $1.28 billion. During the same quarter last year, the business posted $0.02 EPS. The firm’s revenue was up 82.5% compared to the same quarter last year. Equities research analysts expect that Fluence Energy, Inc. will post 0.56 earnings per share for the current year.

Institutional Inflows and Outflows

A number of institutional investors have recently bought and sold shares of the stock. Blue Trust Inc. bought a new position in Fluence Energy during the 2nd quarter worth about $58,000. Bank of New York Mellon Corp raised its position in Fluence Energy by 19.6% in the 2nd quarter. Bank of New York Mellon Corp now owns 217,709 shares of the company’s stock valued at $3,775,000 after buying an additional 35,701 shares during the last quarter. Allspring Global Investments Holdings LLC raised its position in Fluence Energy by 305.5% in the 2nd quarter. Allspring Global Investments Holdings LLC now owns 30,952 shares of the company’s stock valued at $537,000 after buying an additional 23,319 shares during the last quarter. Lazard Freres Gestion S.A.S. bought a new stake in Fluence Energy in the 2nd quarter valued at approximately $26,877,000. Finally, Zurcher Kantonalbank Zurich Cantonalbank boosted its position in Fluence Energy by 1,355.7% during the 2nd quarter. Zurcher Kantonalbank Zurich Cantonalbank now owns 1,024,114 shares of the company’s stock worth $17,758,000 after acquiring an additional 953,761 shares during the last quarter. Institutional investors own 53.16% of the company’s stock.

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.