Fluence Energy (NASDAQ:FLNC) Shares Gap Up to $15.70

Fluence Energy, Inc. (NASDAQ:FLNCGet Free Report) gapped up prior to trading on Wednesday . The stock had previously closed at $15.70, but opened at $16.13. Fluence Energy shares last traded at $15.60, with a volume of 184,667 shares trading hands.

Analysts Set New Price Targets

Several analysts recently commented on FLNC shares. BMO Capital Markets upgraded shares of Fluence Energy from a “market perform” rating to an “outperform” rating and set a $27.00 price objective for the company in a research note on Tuesday, January 16th. Morgan Stanley raised their target price on shares of Fluence Energy from $27.00 to $32.00 and gave the company an “equal weight” rating in a report on Friday, December 8th. Royal Bank of Canada raised their target price on shares of Fluence Energy from $32.00 to $33.00 and gave the company an “outperform” rating in a report on Monday, December 11th. Susquehanna upgraded shares of Fluence Energy from a “neutral” rating to a “positive” rating and set a $24.00 target price for the company in a report on Monday, February 26th. Finally, Raymond James upgraded shares of Fluence Energy from a “market perform” rating to an “outperform” rating and set a $22.00 target price for the company in a report on Wednesday. One research analyst has rated the stock with a sell rating, two have issued a hold rating and sixteen have given a buy rating to the company’s stock. According to data from MarketBeat, the stock has a consensus rating of “Moderate Buy” and an average target price of $28.63.

Check Out Our Latest Report on Fluence Energy

Fluence Energy Price Performance

The stock has a market capitalization of $2.90 billion, a P/E ratio of -31.17 and a beta of 2.57. The firm has a 50 day moving average of $17.37 and a 200-day moving average of $19.92.

Fluence Energy (NASDAQ:FLNCGet Free Report) last issued its quarterly earnings results on Wednesday, February 7th. The company reported ($0.14) earnings per share (EPS) for the quarter, missing the consensus estimate of ($0.13) by ($0.01). Fluence Energy had a negative net margin of 2.72% and a negative return on equity of 11.18%. The firm had revenue of $363.96 million for the quarter, compared to the consensus estimate of $403.93 million. During the same quarter in the prior year, the firm earned ($0.21) earnings per share. The company’s revenue was up 17.2% on a year-over-year basis. As a group, equities analysts expect that Fluence Energy, Inc. will post 0.14 earnings per share for the current year.

Institutional Investors Weigh In On Fluence Energy

Several large investors have recently modified their holdings of FLNC. DNB Asset Management AS acquired a new position in Fluence Energy during the 4th quarter worth $666,000. Schroder Investment Management Group grew its holdings in shares of Fluence Energy by 65.2% in the 3rd quarter. Schroder Investment Management Group now owns 2,694,654 shares of the company’s stock valued at $61,950,000 after acquiring an additional 1,063,609 shares in the last quarter. Wellington Management Group LLP bought a new position in shares of Fluence Energy in the 3rd quarter valued at about $5,916,000. Federated Hermes Inc. grew its holdings in shares of Fluence Energy by 57.7% in the 3rd quarter. Federated Hermes Inc. now owns 139,426 shares of the company’s stock valued at $3,205,000 after acquiring an additional 50,990 shares in the last quarter. Finally, Gotham Asset Management LLC lifted its stake in Fluence Energy by 31.2% in the 3rd quarter. Gotham Asset Management LLC now owns 21,138 shares of the company’s stock valued at $486,000 after purchasing an additional 5,030 shares during the last quarter. 53.16% of the stock is currently owned by institutional investors.

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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