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

Shares of Fluence Energy, Inc. (NASDAQ:FLNC) gapped down before the market opened on Tuesday . The stock had previously closed at $23.50, but opened at $21.00. Fluence Energy shares last traded at $19.75, with a volume of 1,205,090 shares traded.

Analyst Upgrades and Downgrades

A number of brokerages have recently commented on FLNC. Susquehanna upped their price target on Fluence Energy from $23.00 to $28.00 and gave the stock a “positive” rating in a report on Wednesday, October 16th. Jefferies Financial Group began coverage on Fluence Energy in a report on Wednesday, September 4th. They set a “buy” rating and a $26.00 price target for the company. Guggenheim upgraded Fluence Energy from a “neutral” rating to a “buy” rating and set a $26.00 target price for the company in a research note on Friday, August 9th. BNP Paribas upgraded Fluence Energy from an “underperform” rating to a “neutral” rating and set a $22.00 target price for the company in a research note on Friday, November 8th. Finally, 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. Five investment analysts have rated the stock with a hold rating and fifteen have issued a buy rating to the stock. Based on data from MarketBeat, Fluence Energy has a consensus rating of “Moderate Buy” and a consensus price target of $26.47.

Fluence Energy Trading Down 3.3 %

The stock has a market cap of $3.32 billion, a P/E ratio of 138.31, a price-to-earnings-growth ratio of 0.79 and a beta of 2.54. The business’s fifty day simple moving average is $21.26 and its 200 day simple moving average is $19.65.

Institutional Trading of Fluence Energy

A number of hedge funds and other institutional investors have recently modified their holdings of the stock. Hsbc Holdings PLC lifted its holdings in Fluence Energy by 3.8% during the 2nd quarter. Hsbc Holdings PLC now owns 24,250 shares of the company’s stock worth $420,000 after buying an additional 897 shares in the last quarter. US Bancorp DE lifted its stake in shares of Fluence Energy by 676.6% during the third quarter. US Bancorp DE now owns 1,693 shares of the company’s stock valued at $38,000 after acquiring an additional 1,475 shares during the period. Blue Trust Inc. boosted its holdings in Fluence Energy by 45.3% in the third quarter. Blue Trust Inc. now owns 4,821 shares of the company’s stock valued at $109,000 after acquiring an additional 1,502 shares during the last quarter. PARK CIRCLE Co acquired a new stake in Fluence Energy in the second quarter worth about $28,000. Finally, CWM LLC raised its holdings in Fluence Energy by 164.4% during the 3rd 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 last quarter. Institutional investors and hedge funds 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.