Fluence Energy (NASDAQ:FLNC) Stock Price Down 3.3% – Should You Sell?

Shares of Fluence Energy, Inc. (NASDAQ:FLNC) fell 3.3% during mid-day trading on Wednesday . The company traded as low as $14.11 and last traded at $15.62. 4,679,567 shares changed hands during trading, an increase of 57% from the average session volume of 2,984,020 shares. The stock had previously closed at $16.15.

Analysts Set New Price Targets

Several analysts have recently commented on FLNC shares. Susquehanna increased their price objective on Fluence Energy from $23.00 to $28.00 and gave the company a “positive” rating in a report on Wednesday, October 16th. Baird R W downgraded Fluence Energy from a “strong-buy” rating to a “hold” rating in a report on Wednesday, December 18th. Canaccord Genuity Group dropped their price target on Fluence Energy from $37.00 to $34.00 and set a “buy” rating on the stock in a research note on Friday, November 29th. Guggenheim reaffirmed a “buy” rating and issued a $26.00 price objective on shares of Fluence Energy in a research report on Friday, December 6th. Finally, 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 report on Wednesday, October 16th. Seven investment analysts have rated the stock with a hold rating and fourteen have issued a buy rating to the company’s stock. According to data from MarketBeat, the stock currently has an average rating of “Moderate Buy” and a consensus price target of $26.65.

Fluence Energy Stock Down 7.3 %

The company has a market cap of $2.62 billion, a PE ratio of 111.08, a P/E/G ratio of 0.53 and a beta of 2.42. The stock has a 50-day simple moving average of $17.89 and a 200 day simple moving average of $18.61.

Fluence Energy (NASDAQ:FLNC) last posted its quarterly earnings results on Monday, November 25th. The company reported $0.34 EPS for the quarter, topping the consensus estimate of $0.23 by $0.11. The business had revenue of $1.23 billion during the quarter, compared to the consensus estimate of $1.28 billion. Fluence Energy had a net margin of 0.89% and a return on equity of 4.10%. The company’s quarterly revenue was up 82.5% compared to the same quarter last year. During the same quarter in the previous year, the firm posted $0.02 earnings per share. As a group, research analysts anticipate that Fluence Energy, Inc. will post 0.55 earnings per share for the current fiscal year.

Insider Buying and Selling at Fluence Energy

In other news, Director Herman E. Bulls acquired 10,000 shares of Fluence Energy stock in a transaction on Monday, December 23rd. The stock was bought at an average price of $15.57 per share, for a total transaction of $155,700.00. Following the completion of the purchase, the director now owns 75,861 shares in the company, valued at $1,181,155.77. This represents a 15.18 % increase in their ownership of the stock. The acquisition was disclosed in a filing with the SEC, which is accessible through this hyperlink. 0.41% of the stock is owned by corporate insiders.

Institutional Trading of Fluence Energy

Hedge funds and other institutional investors have recently made changes to their positions in the company. Handelsbanken Fonder AB lifted its position in Fluence Energy by 47.3% in the third quarter. Handelsbanken Fonder AB now owns 6,376,024 shares of the company’s stock valued at $144,800,000 after purchasing an additional 2,047,063 shares during the period. FMR LLC boosted its stake in shares of Fluence Energy by 9.0% in the third quarter. FMR LLC now owns 1,606,100 shares of the company’s stock valued at $36,475,000 after buying an additional 132,868 shares in the last quarter. Geode Capital Management LLC grew its holdings in Fluence Energy by 4.2% during the third quarter. Geode Capital Management LLC now owns 1,508,003 shares of the company’s stock worth $34,253,000 after acquiring an additional 60,633 shares during the period. Clearbridge Investments LLC raised its position in Fluence Energy by 1.6% in the second quarter. Clearbridge Investments LLC now owns 1,500,841 shares of the company’s stock worth $26,025,000 after acquiring an additional 23,927 shares in the last quarter. Finally, Erste Asset Management GmbH acquired a new stake in Fluence Energy in the third quarter valued at $22,059,000. Hedge funds and other 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.