Fluence Energy (NASDAQ:FLNC) Shares Down 6.2% Following Analyst Downgrade

Fluence Energy, Inc. (NASDAQ:FLNC)’s share price was down 6.2% on Friday after The Goldman Sachs Group lowered their price target on the stock from $9.00 to $8.00. The Goldman Sachs Group currently has a buy rating on the stock. Fluence Energy traded as low as $4.50 and last traded at $4.52. Approximately 4,852,900 shares were traded during trading, a decline of 13% from the average daily volume of 5,559,415 shares. The stock had previously closed at $4.82.

A number of other equities research analysts also recently weighed in on FLNC. Jefferies Financial Group downgraded shares of Fluence Energy from a “buy” rating to a “hold” rating and cut their price target for the company from $22.00 to $15.00 in a report on Wednesday, January 22nd. Canaccord Genuity Group cut their price target on shares of Fluence Energy from $14.00 to $10.00 and set a “buy” rating on the stock in a report on Wednesday, April 16th. HSBC lowered shares of Fluence Energy from a “buy” rating to a “hold” rating and set a $4.00 price objective for the company. in a research note on Monday, April 28th. 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, UBS Group lowered their price target on Fluence Energy from $8.00 to $4.50 and set a “neutral” rating on the stock in a report on Monday, April 14th. One analyst has rated the stock with a sell rating, nineteen have given a hold rating and six have issued a buy rating to the company’s stock. According to MarketBeat, the stock has an average rating of “Hold” and a consensus target price of $10.41.

Insider Buying and Selling at Fluence Energy

In other Fluence Energy news, CEO Julian Nebreda acquired 23,500 shares of the business’s stock in a transaction that occurred on Thursday, February 13th. The stock was acquired at an average price of $6.35 per share, with a total value of $149,225.00. Following the transaction, the chief executive officer now owns 120,455 shares of the company’s stock, valued at approximately $764,889.25. This trade represents a 24.24 % increase in their ownership of the stock. The acquisition was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this link. Also, Director Herman E. Bulls bought 30,000 shares of the firm’s stock in a transaction that occurred on Thursday, February 13th. The shares were acquired at an average price of $6.53 per share, with a total value of $195,900.00. Following the purchase, the director now owns 105,861 shares in the company, valued at $691,272.33. This trade represents a 39.55 % increase in their ownership of the stock. The disclosure for this purchase can be found here. Insiders have purchased a total of 79,000 shares of company stock worth $499,665 over the last three months. Corporate insiders own 0.65% of the company’s stock.

Institutional Inflows and Outflows

A number of large investors have recently modified their holdings of FLNC. Duff & Phelps Investment Management Co. increased its position in Fluence Energy by 5.6% during the fourth quarter. Duff & Phelps Investment Management Co. now owns 27,192 shares of the company’s stock worth $432,000 after acquiring an additional 1,432 shares during the period. Lazard Freres Gestion S.A.S. grew its position in Fluence Energy by 7.3% in the 4th quarter. Lazard Freres Gestion S.A.S. now owns 22,180 shares of the company’s stock worth $352,000 after purchasing an additional 1,500 shares during the last quarter. KBC Group NV boosted its stake in Fluence Energy by 1.6% during the fourth quarter. KBC Group NV now owns 108,296 shares of the company’s stock worth $1,720,000 after buying an additional 1,671 shares in the last quarter. Ameriprise Financial Inc. boosted its position in shares of Fluence Energy by 0.4% during the 4th quarter. Ameriprise Financial Inc. now owns 440,002 shares of the company’s stock valued at $6,988,000 after acquiring an additional 1,734 shares in the last quarter. Finally, Swiss National Bank raised its position in Fluence Energy by 1.4% in the fourth quarter. Swiss National Bank now owns 126,800 shares of the company’s stock worth $2,014,000 after purchasing an additional 1,800 shares in the last quarter. 53.16% of the stock is currently owned by institutional investors and hedge funds.

Fluence Energy Stock Performance

The stock has a fifty day moving average price of $4.59 and a 200-day moving average price of $11.74. The company has a current ratio of 1.57, a quick ratio of 1.14 and a debt-to-equity ratio of 0.74. The firm has a market capitalization of $833.31 million, a price-to-earnings ratio of -91.80 and a beta of 2.49.

Fluence Energy (NASDAQ:FLNC) last posted its quarterly earnings data on Wednesday, May 7th. The company reported ($0.24) earnings per share for the quarter, missing the consensus estimate of ($0.21) by ($0.03). Fluence Energy had a negative return on equity of 0.36% and a negative net margin of 0.08%. The firm had revenue of $431.62 million for the quarter, compared to analyst estimates of $328.17 million. During the same period in the previous year, the business posted ($0.07) EPS. The business’s quarterly revenue was down 30.7% on a year-over-year basis. As a group, analysts anticipate 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.