Fluence Energy (NASDAQ:FLNC) Shares Gap Up – Still a Buy?

Shares of Fluence Energy, Inc. (NASDAQ:FLNC) gapped up before the market opened on Thursday . The stock had previously closed at $15.88, but opened at $16.51. Fluence Energy shares last traded at $16.54, with a volume of 295,135 shares changing hands.

Analysts Set New Price Targets

Several analysts have weighed in on FLNC shares. Bank of America lowered their price objective on Fluence Energy from $25.00 to $24.00 and set a “buy” rating for the company in a research report on Thursday, November 7th. BNP Paribas raised shares of Fluence Energy from an “underperform” rating to a “neutral” rating and set a $22.00 price objective for the company in a research note on Friday, November 8th. BMO Capital Markets boosted their price target on Fluence Energy from $24.00 to $25.00 and gave the company an “outperform” rating in a report on Monday, October 14th. Jefferies Financial Group started coverage on Fluence Energy in a report on Wednesday, September 4th. They issued a “buy” rating and a $26.00 price objective for the company. Finally, Robert W. Baird reaffirmed a “neutral” rating and issued a $20.00 price target (down previously from $24.00) on shares of Fluence Energy in a research note on Wednesday, December 18th. Seven investment analysts have rated the stock with a hold rating and fourteen have assigned a buy rating to the company. According to data from MarketBeat.com, the stock currently has an average rating of “Moderate Buy” and a consensus target price of $26.65.

Fluence Energy Trading Up 4.2 %

The firm has a market capitalization of $3.00 billion, a P/E ratio of 127.23, a P/E/G ratio of 0.54 and a beta of 2.39. The stock has a 50 day simple moving average of $18.84 and a 200-day simple moving average of $18.80.

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

Insiders Place Their Bets

In related news, Director Herman E. Bulls acquired 10,000 shares of the business’s stock in a transaction on Monday, December 23rd. The stock was acquired at an average cost of $15.57 per share, with a total value of $155,700.00. Following the acquisition, the director now directly owns 75,861 shares in the company, valued at $1,181,155.77. This represents a 15.18 % increase in their position. The transaction was disclosed in a filing with the SEC, which is available through this link. Company insiders own 0.41% of the company’s stock.

Hedge Funds Weigh In On Fluence Energy

Institutional investors have recently added to or reduced their stakes in the company. JPMorgan Chase & Co. lifted its position in Fluence Energy by 73.7% during the third quarter. JPMorgan Chase & Co. now owns 536,184 shares of the company’s stock valued at $12,177,000 after purchasing an additional 227,549 shares during the last quarter. Principal Financial Group Inc. bought a new position in shares of Fluence Energy in the 3rd quarter valued at about $5,742,000. Franklin Resources Inc. grew 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 worth $3,644,000 after acquiring an additional 17,551 shares in the last quarter. Geode Capital Management LLC increased 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 acquiring an additional 60,633 shares during the last quarter. Finally, Duff & Phelps Investment Management Co. lifted its stake in shares of Fluence Energy by 76.2% in the 3rd quarter. Duff & Phelps Investment Management Co. now owns 25,760 shares of the company’s stock valued at $585,000 after purchasing an additional 11,138 shares during the last quarter. Hedge funds and other 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.