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

Fluence Energy, Inc. (NASDAQ:FLNC)’s share price gapped up before the market opened on Thursday . The stock had previously closed at $18.57, but opened at $20.48. Fluence Energy shares last traded at $19.5650, with a volume of 747,047 shares traded.

Analyst Ratings Changes

Several analysts recently commented on FLNC shares. Citigroup boosted their price target on Fluence Energy from $7.50 to $20.00 and gave the company a “neutral” rating in a research note on Wednesday, December 3rd. Morgan Stanley boosted their target price on shares of Fluence Energy from $12.00 to $14.00 and gave the company an “equal weight” rating in a research note on Wednesday, November 26th. Royal Bank Of Canada increased their target price on shares of Fluence Energy from $9.00 to $10.00 and gave the stock a “sector perform” rating in a research report on Wednesday, November 26th. BNP Paribas Exane restated an “underperform” rating and issued a $9.00 price target on shares of Fluence Energy in a research report on Tuesday, October 21st. Finally, Wall Street Zen raised shares of Fluence Energy from a “sell” rating to a “hold” rating in a report on Sunday, November 2nd. Four equities research analysts have rated the stock with a Buy rating, sixteen have issued a Hold rating and six have assigned a Sell rating to the company. According to MarketBeat, the company has an average rating of “Reduce” and an average target price of $13.54.

Fluence Energy Stock Up 8.0%

The stock has a market cap of $3.67 billion, a price-to-earnings ratio of -47.73 and a beta of 2.88. The company has a debt-to-equity ratio of 0.71, a quick ratio of 1.17 and a current ratio of 1.51. The firm’s 50-day simple moving average is $19.23 and its two-hundred day simple moving average is $11.95.

Fluence Energy (NASDAQ:FLNC) last announced its earnings results on Monday, November 24th. The company reported $0.13 earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of $0.23 by ($0.10). The company had revenue of $1.04 billion for the quarter, compared to analyst estimates of $1.39 billion. Fluence Energy had a negative return on equity of 9.21% and a negative net margin of 2.14%.Fluence Energy’s revenue for the quarter was down 15.2% on a year-over-year basis. During the same quarter in the previous year, the company posted $0.34 earnings per share. On average, sell-side analysts expect that Fluence Energy, Inc. will post 0.08 EPS for the current fiscal year.

Hedge Funds Weigh In On Fluence Energy

Large investors have recently made changes to their positions in the company. Advisory Services Network LLC bought a new position in Fluence Energy in the third quarter valued at about $48,000. Parallel Advisors LLC bought a new stake in Fluence Energy during the 2nd quarter worth about $30,000. Quantbot Technologies LP acquired a new position in Fluence Energy during the 3rd quarter valued at about $51,000. Quarry LP boosted its stake in shares of Fluence Energy by 4,371.4% in the 3rd quarter. Quarry LP now owns 5,947 shares of the company’s stock valued at $64,000 after purchasing an additional 5,814 shares during the last quarter. Finally, Ameritas Investment Partners Inc. raised its stake in shares of Fluence Energy by 25.7% during the second quarter. Ameritas Investment Partners Inc. now owns 7,753 shares of the company’s stock worth $52,000 after buying an additional 1,586 shares during the last quarter. Institutional investors and hedge funds 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.