Fluence Energy (NASDAQ:FLNC) Shares Gap Up – Here’s What Happened

Fluence Energy, Inc. (NASDAQ:FLNC)’s share price gapped up prior to trading on Tuesday . The stock had previously closed at $12.65, but opened at $13.28. Fluence Energy shares last traded at $13.2520, with a volume of 663,571 shares changing hands.

Wall Street Analyst Weigh In

Several equities analysts recently weighed in on FLNC shares. Truist Financial initiated coverage on shares of Fluence Energy in a report on Monday, July 13th. They set a “hold” rating and a $16.00 target price on the stock. Zacks Research raised Fluence Energy from a “hold” rating to a “strong-buy” rating in a report on Tuesday, July 14th. Roth Capital set a $18.00 price target on shares of Fluence Energy in a research report on Friday. JPMorgan Chase & Co. upped their price target on Fluence Energy from $13.00 to $17.00 and gave the company a “neutral” rating in a report on Friday, May 8th. Finally, Canaccord Genuity Group set a $24.00 price objective on Fluence Energy in a research note on Friday. One research analyst has rated the stock with a Strong Buy rating, seven have assigned a Buy rating, eleven have issued a Hold rating and four have assigned a Sell rating to the stock. Based on data from MarketBeat, the stock presently has an average rating of “Hold” and a consensus price target of $18.79.

Fluence Energy Stock Up 3.7%

The firm has a market capitalization of $2.42 billion, a P/E ratio of -21.52 and a beta of 2.78. The business has a 50 day moving average price of $18.30 and a 200 day moving average price of $18.17. The company has a debt-to-equity ratio of 0.91, a current ratio of 1.34 and a quick ratio of 0.89.

Fluence Energy (NASDAQ:FLNC) last issued its quarterly earnings results on Wednesday, August 5th. The company reported ($0.24) earnings per share for the quarter. Fluence Energy had a negative net margin of 3.13% and a negative return on equity of 16.79%. The company had revenue of $649.85 million during the quarter, compared to the consensus estimate of $818.57 million. During the same period last year, the company earned $0.01 earnings per share. Fluence Energy’s revenue for the quarter was up 7.9% on a year-over-year basis. On average, analysts predict that Fluence Energy, Inc. will post -0.18 earnings per share for the current year.

Insider Activity

In other news, SVP John Zahurancik sold 15,974 shares of the company’s stock in a transaction dated Tuesday, June 23rd. The shares were sold at an average price of $22.03, for a total value of $351,907.22. Following the sale, the senior vice president owned 71,171 shares of the company’s stock, valued at approximately $1,567,897.13. This represents a 18.33% decrease in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available through the SEC website. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Also, Director Heynitz Harald Von sold 5,000 shares of Fluence Energy stock in a transaction dated Monday, June 15th. The shares were sold at an average price of $25.00, for a total transaction of $125,000.00. Following the transaction, the director directly owned 58,550 shares of the company’s stock, valued at $1,463,750. This represents a 7.87% decrease in their ownership of the stock. Additional details regarding this sale are available in the official SEC disclosure. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. In the last quarter, insiders have sold 2,904,146 shares of company stock worth $61,090,399. Corporate insiders own 0.69% of the company’s stock.

Institutional Trading of Fluence Energy

A number of hedge funds and other institutional investors have recently added to or reduced their stakes in the company. Curio Wealth LLC bought a new stake in shares of Fluence Energy during the fourth quarter worth $31,000. State of Wyoming bought a new position in Fluence Energy during the 4th quarter worth $36,000. EverSource Wealth Advisors LLC increased its position in Fluence Energy by 31.8% during the 1st quarter. EverSource Wealth Advisors LLC now owns 2,782 shares of the company’s stock worth $38,000 after buying an additional 672 shares during the period. Advisory Services Network LLC acquired a new stake in shares of Fluence Energy during the 3rd quarter worth approximately $48,000. Finally, Sankala Group LLC bought a new stake in Fluence Energy during the 4th quarter worth approximately $51,000. 53.16% of the stock is currently owned by institutional investors and hedge funds.

About Fluence Energy

Fluence Energy is a leading global provider of energy storage products and services, specializing in the deployment of advanced battery systems to support grid stability and renewable integration. The company develops, engineers and delivers turnkey energy storage solutions designed to optimize the reliability, efficiency and economic performance of power networks. By combining hardware, software and lifecycle services, Fluence addresses the growing need for flexible energy assets in an evolving electricity landscape.

The company’s core offerings include modular energy storage platforms that pair lithium-ion battery technology with control and optimization software.