Fluence Energy (NASDAQ:FLNC) Shares Gap Down – Here’s Why

Fluence Energy, Inc. (NASDAQ:FLNC)’s share price gapped down prior to trading on Tuesday . The stock had previously closed at $23.50, but opened at $21.00. Fluence Energy shares last traded at $19.75, with a volume of 1,205,090 shares changing hands.

Wall Street Analyst Weigh In

A number of research firms recently weighed in on FLNC. Piper Sandler lifted their price objective on shares of Fluence Energy from $16.00 to $18.00 and gave the company a “neutral” rating in a research note on Tuesday, October 22nd. BMO Capital Markets boosted their price target on shares of Fluence Energy from $24.00 to $25.00 and gave the company an “outperform” rating in a research report on Monday, October 14th. Robert W. Baird reduced their price target on shares of Fluence Energy from $34.00 to $27.00 and set an “outperform” rating for the company in a research report on Friday, August 9th. Susquehanna boosted their price target on shares of Fluence Energy from $23.00 to $28.00 and gave the company a “positive” rating in a research report on Wednesday, October 16th. Finally, Bank of America reduced their price target on shares of Fluence Energy from $25.00 to $24.00 and set a “buy” rating for the company in a research report on Thursday, November 7th. Five equities research analysts have rated the stock with a hold rating and fourteen have issued a buy rating to the company. According to MarketBeat, the company has an average rating of “Moderate Buy” and a consensus price target of $26.63.

Fluence Energy Stock Down 18.0 %

The business’s 50-day simple moving average is $21.32 and its 200-day simple moving average is $19.64. The stock has a market cap of $3.48 billion, a PE ratio of -103.94, a PEG ratio of 0.77 and a beta of 2.54.

Hedge Funds Weigh In On Fluence Energy

Hedge funds have recently modified their holdings of the company. Nicola Wealth Management LTD. increased its position in shares of Fluence Energy by 62.0% in the third quarter. Nicola Wealth Management LTD. now owns 81,000 shares of the company’s stock valued at $1,840,000 after acquiring an additional 31,000 shares during the period. Credit Capital Investments LLC increased its position in shares of Fluence Energy by 391.7% during the third quarter. Credit Capital Investments LLC now owns 59,000 shares of the company’s stock valued at $1,340,000 after buying an additional 47,000 shares during the period. Banque Cantonale Vaudoise increased its position in shares of Fluence Energy by 124.4% during the third quarter. Banque Cantonale Vaudoise now owns 58,979 shares of the company’s stock valued at $1,340,000 after buying an additional 32,699 shares during the period. Principal Financial Group Inc. purchased a new position in shares of Fluence Energy during the third quarter valued at about $5,742,000. Finally, Vanguard Group Inc. increased its position in shares of Fluence Energy by 11.9% during the first quarter. Vanguard Group Inc. now owns 6,178,218 shares of the company’s stock valued at $107,130,000 after buying an additional 656,839 shares during the period. Hedge funds and other institutional investors own 53.16% of the company’s stock.

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.