Fluence Energy (NASDAQ:FLNC) Trading Down 4% After Analyst Downgrade

Fluence Energy, Inc. (NASDAQ:FLNC) shares dropped 4% during mid-day trading on Monday after UBS Group lowered their price target on the stock from $8.00 to $4.50. UBS Group currently has a neutral rating on the stock. Fluence Energy traded as low as $4.02 and last traded at $4.00. Approximately 359,882 shares changed hands during mid-day trading, a decline of 89% from the average daily volume of 3,303,578 shares. The stock had previously closed at $4.16.

Several other research analysts have also recently issued reports on FLNC. Roth Mkm cut Fluence Energy from a “buy” rating to a “neutral” rating and dropped their price target for the company from $20.00 to $6.50 in a report on Wednesday, February 12th. Roth Capital lowered Fluence Energy from a “strong-buy” rating to a “hold” rating in a research report on Wednesday, February 12th. Truist Financial reduced their target price on Fluence Energy from $28.00 to $13.00 and set a “buy” rating for the company in a report on Wednesday, February 12th. BMO Capital Markets cut Fluence Energy from an “outperform” rating to a “market perform” rating and dropped their price target for the stock from $22.00 to $10.00 in a research note on Tuesday, February 11th. Finally, Piper Sandler reduced their price objective on shares of Fluence Energy from $20.00 to $10.00 and set a “neutral” rating for the company in a research note on Wednesday, February 12th. One analyst has rated the stock with a sell rating, seventeen have given a hold rating and six have issued a buy rating to the company. According to data from MarketBeat, the company presently has an average rating of “Hold” and a consensus price target of $12.52.

Insider Activity

In other Fluence Energy news, CFO Ahmed Pasha purchased 15,500 shares of the business’s stock in a transaction dated Friday, February 14th. The shares were acquired at an average price of $6.48 per share, for a total transaction of $100,440.00. Following the acquisition, the chief financial officer now owns 24,703 shares of the company’s stock, valued at $160,075.44. This trade represents a 168.42 % increase in their ownership of the stock. The acquisition was disclosed in a legal filing with the SEC, which can be accessed through the SEC website. Also, Director Herman E. Bulls acquired 30,000 shares of the firm’s stock in a transaction that occurred on Thursday, February 13th. The stock was acquired at an average price of $6.53 per share, with a total value of $195,900.00. Following the completion of the acquisition, the director now directly owns 105,861 shares of the company’s stock, valued at $691,272.33. This represents a 39.55 % increase in their position. The disclosure for this purchase can be found here. Insiders bought a total of 79,000 shares of company stock worth $499,665 in the last three months. 0.65% of the stock is owned by insiders.

Institutional Inflows and Outflows

A number of institutional investors have recently made changes to their positions in the stock. Altshuler Shaham Ltd bought a new stake in Fluence Energy during the fourth quarter worth approximately $34,000. Alpha Wealth Funds LLC bought a new stake in shares of Fluence Energy during the 1st quarter worth $63,000. Householder Group Estate & Retirement Specialist LLC acquired a new position in Fluence Energy in the 4th quarter valued at $79,000. Tower Research Capital LLC TRC raised its holdings in Fluence Energy by 827.1% in the 4th 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 during the period. Finally, Pallas Capital Advisors LLC acquired a new position in Fluence Energy during the 1st quarter worth $89,000. 53.16% of the stock is owned by institutional investors.

Fluence Energy Price Performance

The company has a market capitalization of $737.09 million, a P/E ratio of -81.20 and a beta of 2.48. The stock’s fifty day simple moving average is $5.84 and its 200-day simple moving average is $13.91. The company has a debt-to-equity ratio of 0.74, a current ratio of 1.57 and a quick ratio of 1.14.

Fluence Energy (NASDAQ:FLNC) last announced its earnings results on Monday, February 10th. The company reported ($0.32) earnings per share for the quarter, missing the consensus estimate of ($0.17) by ($0.15). Fluence Energy had a negative net margin of 0.08% and a negative return on equity of 0.36%. On average, equities analysts forecast that Fluence Energy, Inc. will post 0.08 earnings per share for the current fiscal year.

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.