Fluence Energy (NASDAQ:FLNC) Reaches New 12-Month Low After Analyst Downgrade

Fluence Energy, Inc. (NASDAQ:FLNC) hit a new 52-week low on Wednesday after Canaccord Genuity Group lowered their price target on the stock from $14.00 to $10.00. Canaccord Genuity Group currently has a buy rating on the stock. Fluence Energy traded as low as $3.54 and last traded at $3.68, with a volume of 940050 shares. The stock had previously closed at $3.68.

FLNC has been the subject of several other research reports. UBS Group reduced their target price on shares of Fluence Energy from $8.00 to $4.50 and set a “neutral” rating for the company in a report on Monday. Citigroup decreased their target price on shares of Fluence Energy from $24.00 to $10.00 and set a “neutral” rating for the company in a research note on Tuesday, February 11th. Royal Bank of Canada lowered shares of Fluence Energy from an “outperform” rating to a “sector perform” rating and dropped their price target for the stock from $25.00 to $7.00 in a research report on Wednesday, February 12th. JPMorgan Chase & Co. downgraded shares of Fluence Energy from an “overweight” rating to a “neutral” rating and cut their target price for the company from $14.00 to $7.00 in a research note on Friday, April 11th. Finally, Barclays reiterated an “equal weight” rating and set a $5.00 target price (down from $9.00) on shares of Fluence Energy in a research note on Tuesday, April 8th. 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 stock. Based on data from MarketBeat, Fluence Energy currently has an average rating of “Hold” and an average price target of $11.43.

Insiders Place Their Bets

In other news, CEO Julian Nebreda purchased 23,500 shares of the business’s stock in a transaction on Thursday, February 13th. The shares were acquired at an average price of $6.35 per share, for a total transaction of $149,225.00. Following the completion of the acquisition, the chief executive officer now owns 120,455 shares in the company, valued at approximately $764,889.25. The trade was a 24.24 % increase in their ownership of the stock. The transaction was disclosed in a legal filing with the SEC, which can be accessed through this link. Also, Director Herman E. Bulls acquired 10,000 shares of the firm’s stock in a transaction dated Wednesday, March 5th. The shares were purchased at an average price of $5.41 per share, with a total value of $54,100.00. Following the acquisition, the director now owns 115,861 shares of the company’s stock, valued at approximately $626,808.01. This represents a 9.45 % increase in their ownership of the stock. The disclosure for this purchase can be found here. In the last 90 days, insiders bought 79,000 shares of company stock worth $499,665. 0.65% of the stock is currently owned by insiders.

Institutional Trading of Fluence Energy

Hedge funds and other institutional investors have recently bought and sold shares of the business. Altshuler Shaham Ltd acquired a new stake in shares of Fluence Energy in the 4th quarter worth about $34,000. Alpha Wealth Funds LLC bought a new stake in shares of Fluence Energy in the 1st quarter worth $63,000. Householder Group Estate & Retirement Specialist LLC bought a new position in shares of Fluence Energy during the fourth quarter valued at about $79,000. Tower Research Capital LLC TRC boosted its holdings 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 purchasing an additional 4,921 shares during the last quarter. Finally, Pallas Capital Advisors LLC bought a new stake in Fluence Energy in the 1st quarter worth about $89,000. Institutional investors own 53.16% of the company’s stock.

Fluence Energy Price Performance

The business has a 50 day moving average price of $5.49 and a two-hundred day moving average price of $13.77. The company has a debt-to-equity ratio of 0.74, a quick ratio of 1.14 and a current ratio of 1.57. The stock has a market cap of $660.84 million, a PE ratio of -72.80 and a beta of 2.48.

Fluence Energy (NASDAQ:FLNC) last posted its quarterly 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 negative net margin of 0.08% and a negative return on equity of 0.36%. Research analysts expect that Fluence Energy, Inc. will post 0.08 earnings per share for the current fiscal year.

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.