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

Fluence Energy, Inc. (NASDAQ:FLNC) gapped down before the market opened 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 changing hands.

Wall Street Analysts Forecast Growth

Several equities research analysts recently weighed in on the company. Bank of America reduced their target price on Fluence Energy from $29.00 to $28.00 and set a “buy” rating for the company in a report on Wednesday, July 17th. Piper Sandler lowered their target price on shares of Fluence Energy from $18.00 to $16.00 and set a “neutral” rating on the stock in a research note on Monday, July 22nd. Scotiabank raised shares of Fluence Energy to a “hold” rating in a research report on Friday, July 12th. Jefferies Financial Group initiated coverage on shares of Fluence Energy in a report on Wednesday, September 4th. They set a “buy” rating and a $26.00 price target for the company. Finally, Robert W. Baird dropped their price objective on Fluence Energy from $34.00 to $27.00 and set an “outperform” rating on the stock in a research note on Friday, August 9th. One equities research analyst has rated the stock with a sell rating, four have assigned a hold rating and fourteen have given a buy rating to the stock. According to data from MarketBeat, Fluence Energy presently has an average rating of “Moderate Buy” and an average price target of $26.21.

Fluence Energy Stock Down 6.4 %

The firm has a 50-day moving average of $18.43 and a 200 day moving average of $18.43. The stock has a market capitalization of $3.81 billion, a P/E ratio of -54.85, a PEG ratio of 7.24 and a beta of 2.51.

Insider Transactions at Fluence Energy

In other Fluence Energy news, Director Herman E. Bulls bought 10,000 shares of the stock in a transaction that occurred on Tuesday, August 13th. The shares were acquired at an average price of $16.81 per share, with a total value of $168,100.00. Following the completion of the purchase, the director now directly owns 65,861 shares in the company, valued at approximately $1,107,123.41. The acquisition was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this hyperlink. 0.41% of the stock is owned by insiders.

Institutional Investors Weigh In On Fluence Energy

A number of institutional investors have recently added to or reduced their stakes in the stock. Jupiter Asset Management Ltd. bought a new position in shares of Fluence Energy during the 1st quarter worth approximately $3,247,000. SG Americas Securities LLC bought a new position in Fluence Energy during the 1st quarter valued at about $4,082,000. Quadrature Capital Ltd acquired a new position in Fluence Energy in the fourth quarter valued at about $1,136,000. Norges Bank bought a new stake in Fluence Energy during the fourth quarter worth about $13,931,000. Finally, Vanguard Group Inc. increased its holdings in shares of Fluence Energy by 41.0% during the fourth quarter. Vanguard Group Inc. now owns 5,521,379 shares of the company’s stock worth $131,685,000 after buying an additional 1,605,345 shares in the last quarter. 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.