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

Fluence Energy, Inc. (NASDAQ:FLNC)’s share price hit a new 52-week low on Tuesday after Piper Sandler lowered their price target on the stock from $10.00 to $4.00. Piper Sandler currently has a neutral rating on the stock. Fluence Energy traded as low as $3.46 and last traded at $3.61, with a volume of 3746651 shares changing hands. The stock had previously closed at $3.69.

FLNC has been the subject of a number of other research reports. Truist Financial cut their price objective on Fluence Energy from $28.00 to $13.00 and set a “buy” rating for the company in a research report on Wednesday, February 12th. JPMorgan Chase & Co. lowered shares of Fluence Energy from an “overweight” rating to a “neutral” rating and decreased their target price for the company from $14.00 to $7.00 in a research note on Friday, April 11th. Bank of America lowered shares of Fluence Energy from a “buy” rating to a “neutral” rating and dropped their price target for the stock from $20.00 to $8.00 in a research note on Thursday, February 13th. Guggenheim reduced their target price on Fluence Energy from $6.00 to $2.00 and set a “sell” rating for the company in a report on Tuesday, April 15th. Finally, Barclays reiterated an “equal weight” rating and issued a $5.00 price objective (down from $9.00) on shares of Fluence Energy in a research note on Tuesday, April 8th. One research analyst has rated the stock with a sell rating, seventeen have issued a hold rating and six have given a buy rating to the company’s stock. According to MarketBeat, Fluence Energy currently has a consensus rating of “Hold” and an average target price of $11.14.

Insider Buying and Selling at Fluence Energy

In other news, Director Herman E. Bulls acquired 10,000 shares of the business’s stock in a transaction on Wednesday, March 5th. The shares were purchased at an average cost of $5.41 per share, with a total value of $54,100.00. Following the acquisition, the director now directly owns 115,861 shares of the company’s stock, valued at $626,808.01. The trade was a 9.45 % increase in their ownership of the stock. The transaction was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. Also, CFO Ahmed Pasha acquired 15,500 shares of the firm’s stock in a transaction on Friday, February 14th. The stock was purchased at an average price of $6.48 per share, with a total value of $100,440.00. Following the purchase, the chief financial officer now owns 24,703 shares in the company, valued at approximately $160,075.44. The trade was a 168.42 % increase in their position. The disclosure for this purchase can be found here. Over the last quarter, insiders bought 79,000 shares of company stock valued at $499,665. Company insiders own 0.65% of the company’s stock.

Hedge Funds Weigh In On Fluence Energy

A number of large investors have recently made changes to their positions in FLNC. Altshuler Shaham Ltd purchased a new stake in Fluence Energy in the fourth quarter valued at approximately $34,000. Alpha Wealth Funds LLC bought a new position in Fluence Energy during the 1st quarter worth approximately $63,000. Householder Group Estate & Retirement Specialist LLC bought a new stake in Fluence Energy during the 4th quarter valued at $79,000. Tower Research Capital LLC TRC raised its position in Fluence Energy by 827.1% during the 4th quarter. Tower Research Capital LLC TRC now owns 5,516 shares of the company’s stock valued at $88,000 after purchasing an additional 4,921 shares during the last quarter. Finally, Pallas Capital Advisors LLC purchased a new stake in Fluence Energy in the first quarter worth $89,000. 53.16% of the stock is owned by institutional investors.

Fluence Energy Price Performance

The company has a market cap of $673.55 million, a PE ratio of -74.20 and a beta of 2.48. The firm’s 50-day moving average is $5.12 and its 200-day moving average is $13.20. The company has a quick ratio of 1.14, a current ratio of 1.57 and a debt-to-equity ratio of 0.74.

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