Fluence Energy (NASDAQ:FLNC) Stock Price Down 5.5% – Here’s What Happened

Fluence Energy, Inc. (NASDAQ:FLNC) shares traded down 5.5% during mid-day trading on Wednesday . The company traded as low as $17.30 and last traded at $17.33. 1,138,656 shares were traded during mid-day trading, a decline of 49% from the average session volume of 2,236,086 shares. The stock had previously closed at $18.33.

Wall Street Analysts Forecast Growth

A number of equities analysts have recently issued reports on the stock. Bank of America cut their price target on shares of Fluence Energy from $25.00 to $24.00 and set a “buy” rating for the company in a report on Thursday, November 7th. Piper Sandler raised their target price on shares of Fluence Energy from $18.00 to $20.00 and gave the company a “neutral” rating in a report on Wednesday, November 27th. Susquehanna raised their target price on shares of Fluence Energy from $23.00 to $28.00 and gave the company a “positive” rating in a report on Wednesday, October 16th. BNP Paribas upgraded shares of Fluence Energy from an “underperform” rating to a “neutral” rating and set a $22.00 target price for the company in a report on Friday, November 8th. Finally, Royal Bank of Canada dropped their target price on shares of Fluence Energy from $28.00 to $27.00 and set an “outperform” rating for the company in a report on Wednesday, November 27th. Five analysts have rated the stock with a hold rating and sixteen have given a buy rating to the company’s stock. Based on data from MarketBeat.com, the company currently has a consensus rating of “Moderate Buy” and a consensus price target of $26.85.

Fluence Energy Stock Down 8.4 %

The company has a market cap of $3.03 billion, a PE ratio of 131.38, a price-to-earnings-growth ratio of 0.62 and a beta of 2.39. The business’s 50 day moving average price is $20.94 and its 200-day moving average price is $19.67.

Fluence Energy (NASDAQ:FLNC) last posted its quarterly earnings data on Monday, November 25th. The company reported $0.34 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $0.23 by $0.11. The company had revenue of $1.23 billion for the quarter, compared to analyst estimates of $1.28 billion. Fluence Energy had a net margin of 0.89% and a return on equity of 4.10%. The business’s quarterly revenue was up 82.5% on a year-over-year basis. During the same quarter last year, the firm posted $0.02 earnings per share. Equities analysts expect that Fluence Energy, Inc. will post 0.54 earnings per share for the current year.

Institutional Trading of Fluence Energy

Hedge funds and other institutional investors have recently made changes to their positions in the stock. PARK CIRCLE Co bought a new stake in shares of Fluence Energy in the second quarter worth $28,000. US Bancorp DE increased its stake in shares of Fluence Energy by 676.6% in the third quarter. US Bancorp DE now owns 1,693 shares of the company’s stock worth $38,000 after buying an additional 1,475 shares during the last quarter. CWM LLC increased its stake in shares of Fluence Energy by 164.4% in the third quarter. CWM LLC now owns 2,842 shares of the company’s stock worth $65,000 after buying an additional 1,767 shares during the last quarter. GAMMA Investing LLC increased its stake in Fluence Energy by 264.9% during the second quarter. GAMMA Investing LLC now owns 2,956 shares of the company’s stock valued at $51,000 after purchasing an additional 2,146 shares during the last quarter. Finally, Point72 DIFC Ltd bought a new stake in Fluence Energy during the third quarter valued at $74,000. 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.