Fluence Energy (NASDAQ:FLNC) Shares Gap Down to $20.17

Fluence Energy, Inc. (NASDAQ:FLNCGet Free Report) shares gapped down prior to trading on Tuesday . The stock had previously closed at $20.17, but opened at $19.72. Fluence Energy shares last traded at $19.85, with a volume of 127,549 shares trading hands.

Analyst Upgrades and Downgrades

Several equities analysts have recently issued reports on FLNC shares. Evercore ISI decreased their price target on shares of Fluence Energy from $59.00 to $47.00 and set an “outperform” rating for the company in a report on Monday, May 13th. Royal Bank of Canada reiterated an “outperform” rating and set a $29.00 target price on shares of Fluence Energy in a research note on Friday. The Goldman Sachs Group reduced their target price on Fluence Energy from $32.00 to $26.00 and set a “buy” rating on the stock in a report on Friday, March 22nd. Morgan Stanley reduced their price objective on Fluence Energy from $32.00 to $30.00 and set an “equal weight” rating on the stock in a research note on Friday, May 10th. Finally, Roth Mkm reaffirmed a “buy” rating and issued a $27.00 price objective (down previously from $31.00) on shares of Fluence Energy in a research note on Friday, May 10th. One equities research analyst has rated the stock with a sell rating, three have issued a hold rating and fourteen have issued a buy rating to the stock. Based on data from MarketBeat.com, the company presently has an average rating of “Moderate Buy” and an average price target of $28.76.

Check Out Our Latest Report on Fluence Energy

Fluence Energy Stock Performance

The company has a 50 day simple moving average of $19.61 and a two-hundred day simple moving average of $19.64.

Fluence Energy (NASDAQ:FLNCGet Free Report) last issued its quarterly earnings data on Wednesday, May 8th. The company reported ($0.07) earnings per share for the quarter, hitting the consensus estimate of ($0.07). The firm had revenue of $623.14 million for the quarter, compared to analysts’ expectations of $538.42 million. Fluence Energy had a negative net margin of 2.10% and a negative return on equity of 8.48%. The company’s quarterly revenue was down 10.7% compared to the same quarter last year. During the same period in the prior year, the firm earned ($0.21) earnings per share. As a group, equities research analysts forecast that Fluence Energy, Inc. will post 0.11 earnings per share for the current year.

Institutional Trading of Fluence Energy

Several large investors have recently modified their holdings of FLNC. Vanguard Group Inc. raised its stake in shares of Fluence Energy by 11.9% during the 1st quarter. Vanguard Group Inc. now owns 6,178,218 shares of the company’s stock valued at $107,130,000 after purchasing an additional 656,839 shares during the period. BNP PARIBAS ASSET MANAGEMENT Holding S.A. lifted its holdings in shares of Fluence Energy by 21.2% during the 1st quarter. BNP PARIBAS ASSET MANAGEMENT Holding S.A. now owns 4,330,198 shares of the company’s stock valued at $75,086,000 after buying an additional 757,105 shares during the period. FMR LLC raised its stake in shares of Fluence Energy by 146.9% in the third quarter. FMR LLC now owns 3,959,313 shares of the company’s stock worth $91,025,000 after buying an additional 2,355,849 shares during the period. Handelsbanken Fonder AB lifted its holdings in shares of Fluence Energy by 145.5% in the fourth quarter. Handelsbanken Fonder AB now owns 2,880,052 shares of the company’s stock worth $68,689,000 after buying an additional 1,706,808 shares in the last quarter. Finally, Schroder Investment Management Group raised its position in Fluence Energy by 65.2% during the third quarter. Schroder Investment Management Group now owns 2,694,654 shares of the company’s stock valued at $61,950,000 after purchasing an additional 1,063,609 shares during the period. 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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