Fluence Energy (NASDAQ:FLNC) Shares Gap Up – Still a Buy?

Fluence Energy, Inc. (NASDAQ:FLNC)’s stock price gapped up prior to trading on Thursday . The stock had previously closed at $13.25, but opened at $14.06. Fluence Energy shares last traded at $14.53, with a volume of 918,629 shares traded.

Wall Street Analyst Weigh In

A number of equities analysts recently issued reports on FLNC shares. BMO Capital Markets increased their price target on shares of Fluence Energy from $24.00 to $25.00 and gave the stock an “outperform” rating in a research note on Monday, October 14th. Barclays lowered their price objective on Fluence Energy from $28.00 to $22.00 and set an “overweight” rating for the company in a research report on Wednesday, January 22nd. Piper Sandler lifted their price target on shares of Fluence Energy from $18.00 to $20.00 and gave the company a “neutral” rating in a research report on Wednesday, November 27th. Canaccord Genuity Group dropped their target price on Fluence Energy from $37.00 to $34.00 and set a “buy” rating on the stock in a research report on Friday, November 29th. Finally, Baird R W lowered shares of Fluence Energy from a “strong-buy” rating to a “hold” rating in a research report on Wednesday, December 18th. Eight analysts have rated the stock with a hold rating and thirteen have assigned a buy rating to the company. Based on data from MarketBeat, the company currently has an average rating of “Moderate Buy” and a consensus price target of $25.60.

Fluence Energy Trading Up 7.0 %

The firm’s 50 day simple moving average is $16.65 and its 200-day simple moving average is $18.41. The stock has a market capitalization of $2.57 billion, a price-to-earnings ratio of 108.35, a price-to-earnings-growth ratio of 0.44 and a beta of 2.42.

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

Insider Transactions at Fluence Energy

In related news, Director Herman E. Bulls acquired 10,000 shares of the stock in a transaction on Monday, December 23rd. The shares were acquired at an average price of $15.57 per share, with a total value of $155,700.00. Following the completion of the transaction, the director now owns 75,861 shares in the company, valued at approximately $1,181,155.77. The trade was a 15.18 % increase in their position. The purchase was disclosed in a legal filing with the SEC, which is accessible through this link. Company insiders own 0.41% of the company’s stock.

Hedge Funds Weigh In On Fluence Energy

Hedge funds and other institutional investors have recently bought and sold shares of the stock. Mezzasalma Advisors LLC purchased a new position in shares of Fluence Energy during the fourth quarter valued at about $221,000. Cidel Asset Management Inc. purchased a new position in shares of Fluence Energy in the fourth quarter worth $350,000. Canal Insurance CO boosted its holdings in shares of Fluence Energy by 15.0% during the 4th quarter. Canal Insurance CO now owns 300,000 shares of the company’s stock valued at $4,764,000 after acquiring an additional 39,200 shares during the last quarter. KBC Group NV increased its stake in shares of Fluence Energy by 1.6% in the 4th quarter. KBC Group NV now owns 108,296 shares of the company’s stock worth $1,720,000 after purchasing an additional 1,671 shares in the last quarter. Finally, Union Bancaire Privee UBP SA purchased a new stake in Fluence Energy in the 4th quarter worth approximately $340,000. Hedge funds and other institutional investors 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.