Fluence Energy (NASDAQ:FLNC) Shares Down 5.9% – Here’s What Happened

Fluence Energy, Inc. (NASDAQ:FLNC) shares fell 5.9% on Thursday . The company traded as low as $14.92 and last traded at $15.12. Approximately 2,471,491 shares changed hands during mid-day trading, an increase of 5% from the average session volume of 2,361,717 shares. The stock had previously closed at $16.07.

Analyst Upgrades and Downgrades

FLNC has been the subject of several research reports. Jefferies Financial Group initiated coverage on shares of Fluence Energy in a research report on Wednesday, September 4th. They set a “buy” rating and a $26.00 price objective for the company. Royal Bank of Canada decreased their price target on shares of Fluence Energy from $28.00 to $27.00 and set an “outperform” rating on the stock in a research report on Wednesday, November 27th. Guggenheim reiterated a “buy” rating and set a $26.00 price objective on shares of Fluence Energy in a research report on Friday, December 6th. Truist Financial lifted their target price on Fluence Energy from $25.00 to $28.00 and gave the stock a “buy” rating in a report on Wednesday, October 16th. Finally, Susquehanna upped their target price on Fluence Energy from $23.00 to $28.00 and gave the company a “positive” rating in a report on Wednesday, October 16th. Seven analysts have rated the stock with a hold rating and fourteen have given a buy rating to the stock. Based on data from MarketBeat, Fluence Energy has a consensus rating of “Moderate Buy” and an average target price of $26.65.

Fluence Energy Stock Down 6.7 %

The company has a 50-day moving average price of $19.88 and a 200-day moving average price of $19.28. The company has a market capitalization of $2.72 billion, a price-to-earnings ratio of 115.38, a P/E/G ratio of 0.54 and a beta of 2.39.

Fluence Energy (NASDAQ:FLNC) last issued its quarterly earnings results on Monday, November 25th. The company reported $0.34 earnings per share for the quarter, beating analysts’ consensus estimates of $0.23 by $0.11. Fluence Energy had a net margin of 0.89% and a return on equity of 4.10%. The firm had revenue of $1.23 billion during the quarter, compared to the consensus estimate of $1.28 billion. During the same period in the prior year, the firm earned $0.02 EPS. The business’s revenue was up 82.5% on a year-over-year basis. Equities analysts expect that Fluence Energy, Inc. will post 0.56 EPS for the current fiscal year.

Institutional Investors Weigh In On Fluence Energy

Several large investors have recently modified their holdings of the stock. Principal Financial Group Inc. bought a new stake in shares of Fluence Energy in the 3rd quarter worth about $5,742,000. Franklin Resources Inc. boosted its position in Fluence Energy by 11.8% in the third quarter. Franklin Resources Inc. now owns 166,613 shares of the company’s stock valued at $3,644,000 after buying an additional 17,551 shares in the last quarter. Geode Capital Management LLC grew its stake in Fluence Energy by 4.2% during the third quarter. Geode Capital Management LLC now owns 1,508,003 shares of the company’s stock worth $34,253,000 after buying an additional 60,633 shares during the last quarter. Duff & Phelps Investment Management Co. increased its holdings in shares of Fluence Energy by 76.2% during the third quarter. Duff & Phelps Investment Management Co. now owns 25,760 shares of the company’s stock worth $585,000 after buying an additional 11,138 shares in the last quarter. Finally, Barclays PLC raised its stake in shares of Fluence Energy by 296.8% in the third quarter. Barclays PLC now owns 181,766 shares of the company’s stock valued at $4,127,000 after acquiring an additional 135,957 shares during the last quarter. 53.16% of the stock is currently owned by institutional investors.

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.