Fluence Energy (NASDAQ:FLNC) Shares Gap Down to $22.71

Fluence Energy, Inc. (NASDAQ:FLNC)’s share price gapped down prior to trading on Tuesday . The stock had previously closed at $22.71, but opened at $21.95. Fluence Energy shares last traded at $21.58, with a volume of 162,378 shares trading hands.

Analyst Ratings Changes

FLNC has been the topic of a number of research analyst reports. Susquehanna lowered their target price on Fluence Energy from $24.00 to $23.00 and set a “positive” rating on the stock in a report on Friday, August 9th. Jefferies Financial Group started coverage on shares of Fluence Energy in a research note on Wednesday, September 4th. They issued a “buy” rating and a $26.00 price objective on the stock. Scotiabank raised shares of Fluence Energy to a “hold” rating in a research note on Friday, July 12th. Citigroup lowered shares of Fluence Energy from a “buy” rating to a “neutral” rating and decreased their price target for the stock from $32.00 to $24.00 in a research report on Tuesday. Finally, JPMorgan Chase & Co. increased their price objective on Fluence Energy from $25.00 to $28.00 and gave the company an “overweight” rating in a research report on Tuesday, July 16th. One investment analyst has rated the stock with a sell rating, four have issued a hold rating and fourteen have issued a buy rating to the company. According to MarketBeat, the company has a consensus rating of “Moderate Buy” and a consensus price target of $26.21.

Fluence Energy Trading Down 6.4 %

The business has a fifty day moving average price of $18.43 and a two-hundred day moving average price of $18.43. The company has a market cap of $3.81 billion, a price-to-earnings ratio of -54.85, a P/E/G ratio of 7.24 and a beta of 2.51.

Insider Buying and Selling at Fluence Energy

In related news, Director Herman E. Bulls bought 10,000 shares of the business’s stock in a transaction on Tuesday, August 13th. The stock was bought at an average price of $16.81 per share, for a total transaction of $168,100.00. Following the transaction, the director now directly owns 65,861 shares in the company, valued at $1,107,123.41. The transaction was disclosed in a legal filing with the SEC, which is available through this hyperlink. Company insiders own 0.41% of the company’s stock.

Institutional Inflows and Outflows

Several hedge funds have recently bought and sold shares of the company. Norges Bank bought a new stake in shares of Fluence Energy in the 4th quarter valued at approximately $13,931,000. Hsbc Holdings PLC acquired a new position in shares of Fluence Energy during the 4th quarter worth $1,375,000. KBC Group NV bought a new position in shares of Fluence Energy during the 4th quarter valued at $583,000. Clean Energy Transition LLP acquired a new stake in shares of Fluence Energy in the 4th quarter valued at $32,124,000. Finally, Westwood Holdings Group Inc. bought a new stake in Fluence Energy in the fourth quarter worth $4,401,000. 53.16% of the stock is owned by institutional investors and hedge funds.

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.