Fluence Energy, Inc. (NASDAQ:FLNC - Get Free Report)'s share price gapped up before the market opened on Tuesday . The stock had previously closed at $5.01, but opened at $5.37. Fluence Energy shares last traded at $5.90, with a volume of 2,952,439 shares trading hands.
Wall Street Analysts Forecast Growth
A number of brokerages have commented on FLNC. Mizuho cut their price target on shares of Fluence Energy from $7.00 to $6.00 and set an "outperform" rating for the company in a research note on Monday, June 2nd. Canaccord Genuity Group dropped their target price on Fluence Energy from $14.00 to $10.00 and set a "buy" rating for the company in a report on Wednesday, April 16th. HSBC lowered Fluence Energy from a "buy" rating to a "hold" rating and set a $4.00 price target on the stock. in a research note on Monday, April 28th. JPMorgan Chase & Co. lowered Fluence Energy from an "overweight" rating to a "neutral" rating and dropped their price objective for the stock from $14.00 to $7.00 in a research note on Friday, April 11th. Finally, Barclays reiterated an "equal weight" rating and set a $5.00 target price (down previously from $9.00) on shares of Fluence Energy in a research report on Tuesday, April 8th. Two investment analysts have rated the stock with a sell rating, eighteen have issued a hold rating and five have issued a buy rating to the company. According to MarketBeat.com, the company has an average rating of "Hold" and an average target price of $8.12.
Check Out Our Latest Research Report on FLNC
Fluence Energy Trading Up 4.7%
The company has a debt-to-equity ratio of 0.78, a current ratio of 1.51 and a quick ratio of 0.99. The business's 50-day moving average price is $4.68 and its two-hundred day moving average price is $8.54. The company has a market capitalization of $1.06 billion, a P/E ratio of -26.50 and a beta of 2.51.
Fluence Energy (NASDAQ:FLNC - Get Free Report) last posted its earnings results on Wednesday, May 7th. The company reported ($0.24) earnings per share (EPS) for the quarter, missing analysts' consensus estimates of ($0.21) by ($0.03). The business had revenue of $431.62 million for the quarter, compared to the consensus estimate of $328.17 million. Fluence Energy had a negative return on equity of 4.40% and a negative net margin of 1.10%. Fluence Energy's revenue for the quarter was down 30.7% compared to the same quarter last year. During the same period in the previous year, the company posted ($0.07) earnings per share. As a group, analysts forecast that Fluence Energy, Inc. will post 0.08 EPS for the current fiscal year.
Insider Buying and Selling
In other Fluence Energy news, Director Cynthia A. Arnold purchased 33,000 shares of the stock in a transaction on Monday, May 12th. The shares were purchased at an average cost of $5.90 per share, for a total transaction of $194,700.00. Following the purchase, the director now owns 86,202 shares of the company's stock, valued at approximately $508,591.80. This represents a 62.03% increase in their ownership of the stock. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. Company insiders own 0.65% of the company's stock.
Institutional Trading of Fluence Energy
A number of hedge funds and other institutional investors have recently modified their holdings of FLNC. Altshuler Shaham Ltd acquired a new position in shares of Fluence Energy during the 4th quarter worth approximately $34,000. SBI Securities Co. Ltd. grew its position in shares of Fluence Energy by 462.6% in the 1st quarter. SBI Securities Co. Ltd. now owns 8,085 shares of the company's stock valued at $39,000 after acquiring an additional 6,648 shares during the period. TFB Advisors LLC bought a new stake in shares of Fluence Energy in the 1st quarter valued at about $53,000. Voleon Capital Management LP bought a new position in Fluence Energy during the first quarter worth about $55,000. Finally, Silverlake Wealth Management LLC bought a new stake in Fluence Energy in the first quarter valued at approximately $56,000. Institutional investors and hedge funds own 53.16% of the company's stock.
Fluence Energy Company Profile
(
Get Free Report)
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.
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