Fluence Energy (NASDAQ:FLNC) Sees Strong Trading Volume – Here’s What Happened

Shares of Fluence Energy, Inc. (NASDAQ:FLNC) saw unusually-strong trading volume on Wednesday . Approximately 6,155,309 shares changed hands during mid-day trading, an increase of 12% from the previous session’s volume of 5,489,796 shares.The stock last traded at $6.97 and had previously closed at $7.00.

Wall Street Analyst Weigh In

FLNC has been the subject of several analyst reports. Guggenheim lowered shares of Fluence Energy from a “buy” rating to a “sell” rating and lowered their price target for the stock from $26.00 to $6.00 in a report on Tuesday. Susquehanna dropped their target price on shares of Fluence Energy from $23.00 to $10.00 and set a “positive” rating on the stock in a report on Wednesday. Bank of America decreased their price objective on Fluence Energy from $25.00 to $20.00 and set a “buy” rating for the company in a report on Tuesday, January 28th. Piper Sandler decreased their price target on shares of Fluence Energy from $20.00 to $10.00 and set a “neutral” rating for the company in a research note on Wednesday. Finally, Royal Bank of Canada lowered shares of Fluence Energy from an “outperform” rating to a “sector perform” rating and dropped their price objective for the company from $25.00 to $7.00 in a research note on Wednesday. One research analyst has rated the stock with a sell rating, thirteen have assigned a hold rating and nine have assigned a buy rating to the company’s stock. Based on data from MarketBeat.com, Fluence Energy currently has an average rating of “Hold” and a consensus target price of $15.21.

Fluence Energy Stock Down 4.4 %

The company has a market cap of $1.21 billion, a P/E ratio of 51.73, a price-to-earnings-growth ratio of 0.49 and a beta of 2.37. The company has a fifty day moving average of $15.47 and a 200 day moving average of $18.22.

Fluence Energy (NASDAQ:FLNC) last announced its quarterly earnings results on Monday, February 10th. The company reported ($0.32) earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of ($0.17) by ($0.15). Fluence Energy had a net margin of 0.89% and a return on equity of 4.10%. As a group, research analysts forecast that Fluence Energy, Inc. will post 0.48 EPS for the current year.

Insider Transactions at Fluence Energy

In other Fluence Energy news, Director Herman E. Bulls acquired 10,000 shares of the stock in a transaction dated Monday, December 23rd. The stock was purchased at an average price of $15.57 per share, with a total value of $155,700.00. Following the transaction, the director now directly owns 75,861 shares of the company’s stock, valued at $1,181,155.77. This trade represents a 15.18 % increase in their ownership of the stock. The acquisition was disclosed in a legal filing with the SEC, which can be accessed through this hyperlink. Corporate insiders own 0.65% of the company’s stock.

Hedge Funds Weigh In On Fluence Energy

A number of large investors have recently bought and sold shares of FLNC. Vanguard Group Inc. lifted its stake in Fluence Energy by 1.8% during the 4th quarter. Vanguard Group Inc. now owns 6,252,320 shares of the company’s stock worth $99,287,000 after acquiring an additional 110,256 shares in the last quarter. FMR LLC increased its stake in Fluence Energy by 9.0% during the 3rd quarter. FMR LLC now owns 1,606,100 shares of the company’s stock worth $36,475,000 after buying an additional 132,868 shares during the period. Geode Capital Management LLC boosted its position in Fluence Energy by 4.2% in the 3rd quarter. Geode Capital Management LLC now owns 1,508,003 shares of the company’s stock valued at $34,253,000 after buying an additional 60,633 shares during the period. Erste Asset Management GmbH grew its stake in shares of Fluence Energy by 15.5% in the fourth quarter. Erste Asset Management GmbH now owns 1,111,629 shares of the company’s stock worth $18,058,000 after acquiring an additional 148,857 shares in the last quarter. Finally, Point72 Asset Management L.P. acquired a new stake in shares of Fluence Energy in the third quarter valued at $21,809,000. Institutional investors and hedge funds own 53.16% of the company’s stock.

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.