Fluence Energy (NASDAQ:FLNC) Sees Strong Trading Volume – Still a Buy?

Fluence Energy, Inc. (NASDAQ:FLNC) saw an uptick in trading volume on Wednesday . 6,155,309 shares traded hands during mid-day trading, an increase of 12% from the previous session’s volume of 5,489,796 shares.The stock last traded at $6.97 and had previously closed at $7.00.

Wall Street Analysts Forecast Growth

A number of analysts have recently issued reports on FLNC shares. Robert W. Baird reiterated a “neutral” rating and set a $20.00 price target (down previously from $24.00) on shares of Fluence Energy in a research report on Wednesday, December 18th. BMO Capital Markets cut shares of Fluence Energy from an “outperform” rating to a “market perform” rating and cut their price target for the stock from $22.00 to $10.00 in a research note on Tuesday. The Goldman Sachs Group decreased their price target on shares of Fluence Energy from $26.00 to $13.00 and set a “buy” rating on the stock in a report on Wednesday. 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 report on Friday, November 8th. Finally, Jefferies Financial Group cut Fluence Energy from a “buy” rating to a “hold” rating and reduced their target price for the company from $22.00 to $15.00 in a research note on Wednesday, January 22nd. One analyst has rated the stock with a sell rating, fifteen have assigned a hold rating and eight have issued a buy rating to the company’s stock. According to MarketBeat.com, the company presently has a consensus rating of “Hold” and a consensus target price of $14.64.

Fluence Energy Price Performance

The firm’s 50 day moving average price is $15.03 and its 200 day moving average price is $18.07. The stock has a market capitalization of $1.12 billion, a P/E ratio of 47.54, a P/E/G ratio of 0.49 and a beta of 2.37.

Fluence Energy (NASDAQ:FLNC) last posted its earnings results on Monday, February 10th. The company reported ($0.32) earnings per share (EPS) for the quarter, missing the consensus estimate of ($0.17) by ($0.15). Fluence Energy had a net margin of 0.89% and a return on equity of 4.10%. On average, equities research analysts forecast that Fluence Energy, Inc. will post 0.48 earnings per share for the current year.

Insider Buying and Selling at Fluence Energy

In other news, Director Herman E. Bulls acquired 30,000 shares of the business’s stock in a transaction on Thursday, February 13th. The shares were acquired at an average cost of $6.53 per share, with a total value of $195,900.00. Following the transaction, the director now owns 105,861 shares in the company, valued at $691,272.33. The trade was a 39.55 % increase in their position. The acquisition was disclosed in a filing with the SEC, which can be accessed through this link. Insiders own 0.65% of the company’s stock.

Hedge Funds Weigh In On Fluence Energy

A number of institutional investors have recently added to or reduced their stakes in the company. Tower Research Capital LLC TRC boosted its stake in Fluence Energy by 827.1% during the fourth quarter. Tower Research Capital LLC TRC now owns 5,516 shares of the company’s stock worth $88,000 after acquiring an additional 4,921 shares in the last quarter. Mirova purchased a new stake in shares of Fluence Energy in the fourth quarter worth $276,000. MetLife Investment Management LLC raised its stake in Fluence Energy by 7.8% during the 4th quarter. MetLife Investment Management LLC now owns 37,557 shares of the company’s stock valued at $596,000 after purchasing an additional 2,718 shares during the period. Covalis Capital LLP bought a new stake in shares of Fluence Energy during the fourth quarter valued at approximately $12,113,000. Finally, Dimensional Fund Advisors LP increased its holdings in Fluence Energy by 22.4% in the 4th quarter. Dimensional Fund Advisors LP now owns 1,134,173 shares of the company’s stock valued at $18,013,000 after acquiring an additional 207,784 shares during the last quarter. 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.