Fluence Energy (NASDAQ:FLNC) Shares Gap Up - Time to Buy?

Fluence Energy, Inc. (NASDAQ:FLNC - Get Free Report)'s share price gapped up prior to trading on Monday . The stock had previously closed at $4.58, but opened at $5.05. Fluence Energy shares last traded at $6.05, with a volume of 2,652,022 shares changing hands.

Wall Street Analysts Forecast Growth

FLNC has been the subject of a number of research reports. BMO Capital Markets cut shares of Fluence Energy from an "outperform" rating to a "market perform" rating and cut their price objective for the company from $22.00 to $10.00 in a research note on Tuesday, February 11th. Robert W. Baird dropped their price target on shares of Fluence Energy from $9.00 to $5.00 and set a "neutral" rating for the company in a research report on Tuesday, April 15th. Royal Bank of Canada cut shares of Fluence Energy from an "outperform" rating to a "sector perform" rating and dropped their price target for the company from $25.00 to $7.00 in a research report on Wednesday, February 12th. Guggenheim dropped their price target on shares of Fluence Energy from $6.00 to $2.00 and set a "sell" rating for the company in a research report on Tuesday, April 15th. Finally, Mizuho started coverage on shares of Fluence Energy in a research report on Wednesday, March 5th. They set an "outperform" rating and a $8.00 price target for the company. Two analysts have rated the stock with a sell rating, eighteen have given a hold rating and five have assigned a buy rating to the stock. According to MarketBeat.com, the stock presently has a consensus rating of "Hold" and an average target price of $8.17.

Fluence Energy Stock Performance

The company has a current ratio of 1.57, a quick ratio of 1.14 and a debt-to-equity ratio of 0.74. The company's 50 day moving average is $4.60 and its 200-day moving average is $11.15. The company has a market capitalization of $982.18 million, a P/E ratio of -108.20 and a beta of 2.49.

Fluence Energy (NASDAQ:FLNC - Get Free Report) last issued its quarterly earnings results on Wednesday, May 7th. The company reported ($0.24) earnings per share (EPS) for the quarter, missing the consensus estimate of ($0.21) by ($0.03). The business had revenue of $431.62 million during the quarter, compared to the consensus estimate of $328.17 million. Fluence Energy had a negative return on equity of 0.36% and a negative net margin of 0.08%. The firm's revenue was down 30.7% compared to the same quarter last year. During the same quarter in the previous year, the business earned ($0.07) earnings per share. Equities analysts anticipate that Fluence Energy, Inc. will post 0.08 EPS for the current fiscal year.

Insider Buying and Selling

In other news, Director Cynthia A. Arnold acquired 33,000 shares of Fluence Energy stock in a transaction on Monday, May 12th. The stock was acquired 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 in the company, valued at $508,591.80. This trade represents a 62.03% increase in their ownership of the stock. The acquisition was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, Director Herman E. Bulls acquired 10,000 shares of Fluence Energy stock in a transaction on Wednesday, March 5th. The shares were purchased at an average price of $5.41 per share, with a total value of $54,100.00. Following the completion of the purchase, the director now owns 115,861 shares in the company, valued at $626,808.01. This represents a 9.45% increase in their position. The disclosure for this purchase can be found here. 0.65% of the stock is owned by company insiders.

Institutional Trading of Fluence Energy

A number of institutional investors and hedge funds have recently bought and sold shares of the company. Vanguard Group Inc. increased 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 valued at $99,287,000 after purchasing an additional 110,256 shares in the last quarter. Goldman Sachs Group Inc. increased its stake in Fluence Energy by 189.7% during the 1st quarter. Goldman Sachs Group Inc. now owns 3,171,146 shares of the company's stock valued at $15,380,000 after purchasing an additional 2,076,668 shares in the last quarter. CenterBook Partners LP bought a new stake in Fluence Energy during the 1st quarter valued at about $12,458,000. Zimmer Partners LP increased its stake in Fluence Energy by 757.7% during the 4th quarter. Zimmer Partners LP now owns 2,144,301 shares of the company's stock valued at $34,052,000 after purchasing an additional 1,894,301 shares in the last quarter. Finally, Clearbridge Investments LLC increased its stake in Fluence Energy by 19.1% during the 4th quarter. Clearbridge Investments LLC now owns 1,849,301 shares of the company's stock valued at $29,367,000 after purchasing an additional 296,325 shares in the last quarter. 53.16% of the stock is currently owned by institutional investors.

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.