Fluence Energy, Inc. (NASDAQ:FLNC - Get Free Report) 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 traded.
Analyst Upgrades and Downgrades
FLNC has been the topic of a number of recent analyst reports. Robert W. Baird reduced their price target on Fluence Energy from $9.00 to $5.00 and set a "neutral" rating on the stock in a research note on Tuesday, April 15th. Piper Sandler dropped their price objective on shares of Fluence Energy from $10.00 to $4.00 and set a "neutral" rating for the company in a research note on Monday, April 21st. Barclays restated an "equal weight" rating and issued a $5.00 target price (down from $9.00) on shares of Fluence Energy in a report on Tuesday, April 8th. Morgan Stanley upped their price objective on Fluence Energy from $4.00 to $5.00 and gave the stock an "equal weight" rating in a report on Monday, May 19th. Finally, JPMorgan Chase & Co. downgraded Fluence Energy from an "overweight" rating to a "neutral" rating and lowered their price target for the company from $14.00 to $7.00 in a research report on Friday, April 11th. Two research analysts have rated the stock with a sell rating, eighteen have assigned a hold rating and five have given a buy rating to the stock. According to MarketBeat, Fluence Energy currently has a consensus rating of "Hold" and an average target price of $8.12.
Get Our Latest Report on Fluence Energy
Fluence Energy Trading Up 14.3%
The firm's 50-day simple moving average is $4.56 and its 200 day simple moving average is $8.76. The stock has a market cap of $1.04 billion, a P/E ratio of -114.90 and a beta of 2.51. The company has a current ratio of 1.57, a quick ratio of 1.14 and a debt-to-equity ratio of 0.74.
Fluence Energy (NASDAQ:FLNC - Get Free Report) last announced its quarterly earnings data on Wednesday, May 7th. The company reported ($0.24) EPS for the quarter, missing analysts' consensus estimates of ($0.21) by ($0.03). Fluence Energy had a negative net margin of 0.08% and a negative return on equity of 0.36%. The company had revenue of $431.62 million for the quarter, compared to analysts' expectations of $328.17 million. During the same period in the previous year, the firm posted ($0.07) earnings per share. The business's revenue for the quarter was down 30.7% on a year-over-year basis. As a group, equities research analysts anticipate that Fluence Energy, Inc. will post 0.08 earnings per share for the current year.
Insiders Place Their Bets
In related news, Director Cynthia A. Arnold purchased 33,000 shares of Fluence Energy stock in a transaction on Monday, May 12th. The stock was purchased at an average cost of $5.90 per share, with a total value of $194,700.00. Following the acquisition, the director now directly owns 86,202 shares in the company, valued at approximately $508,591.80. This trade represents a 62.03% increase in their ownership of the stock. The acquisition was disclosed in a filing with the SEC, which is accessible through this link. Company insiders own 0.65% of the company's stock.
Institutional Trading of Fluence Energy
A number of institutional investors and hedge funds have recently added to or reduced their stakes in the business. Altshuler Shaham Ltd bought a new position in shares of Fluence Energy during the fourth quarter valued at $34,000. Tower Research Capital LLC TRC lifted its holdings in Fluence Energy by 827.1% during the 4th quarter. Tower Research Capital LLC TRC now owns 5,516 shares of the company's stock valued at $88,000 after purchasing an additional 4,921 shares during the last quarter. SBI Securities Co. Ltd. boosted its position in Fluence Energy by 462.6% in the first quarter. SBI Securities Co. Ltd. now owns 8,085 shares of the company's stock valued at $39,000 after buying an additional 6,648 shares in the last quarter. TFB Advisors LLC bought a new stake in Fluence Energy during the first quarter worth about $53,000. Finally, Blueshift Asset Management LLC acquired a new stake in shares of Fluence Energy during the fourth quarter worth approximately $176,000. Institutional investors 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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