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

Fluence Energy, Inc. (NASDAQ:FLNC) shares hit a new 52-week low during mid-day trading 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.

Several other research firms also recently issued reports on FLNC. JPMorgan Chase & Co. downgraded Fluence Energy from an “overweight” rating to a “neutral” rating and cut their price objective for the company from $14.00 to $7.00 in a report on Friday, April 11th. Royal Bank of Canada downgraded shares of Fluence Energy from an “outperform” rating to a “sector perform” rating and lowered their target price for the stock from $25.00 to $7.00 in a research note on Wednesday, February 12th. Susquehanna dropped their price target on shares of Fluence Energy from $10.00 to $8.00 and set a “positive” rating on the stock in a research note on Monday. Barclays reiterated an “equal weight” rating and issued a $5.00 price objective (down previously from $9.00) on shares of Fluence Energy in a research note on Tuesday, April 8th. Finally, UBS Group dropped their price target on Fluence Energy from $8.00 to $4.50 and set a “neutral” rating on the stock in a research report on Monday. One research analyst has rated the stock with a sell rating, seventeen have assigned a hold rating and six have given a buy rating to the company. According to data from MarketBeat, Fluence Energy currently has an average rating of “Hold” and an average target price of $11.43.

Insider Activity

In other news, Director Herman E. Bulls bought 30,000 shares of the company’s stock in a transaction that occurred on Thursday, February 13th. The shares were purchased at an average price of $6.53 per share, for a total transaction of $195,900.00. Following the acquisition, the director now directly owns 105,861 shares of the company’s stock, valued at $691,272.33. The trade was a 39.55 % increase in their position. The purchase was disclosed in a legal filing with the SEC, which is accessible through the SEC website. Also, CEO Julian Nebreda acquired 23,500 shares of the business’s stock in a transaction that occurred on Thursday, February 13th. The shares were acquired at an average cost of $6.35 per share, with a total value of $149,225.00. Following the transaction, the chief executive officer now directly owns 120,455 shares in the company, valued at $764,889.25. The trade was a 24.24 % increase in their position. The disclosure for this purchase can be found here. Insiders have bought 79,000 shares of company stock worth $499,665 over the last 90 days. 0.65% of the stock is owned by company insiders.

Institutional Inflows and Outflows

A number of large investors have recently made changes to their positions in FLNC. HighTower Advisors LLC grew its stake in shares of Fluence Energy by 28.6% in the 3rd quarter. HighTower Advisors LLC now owns 18,865 shares of the company’s stock valued at $428,000 after purchasing an additional 4,190 shares during the period. Morse Asset Management Inc acquired a new position in Fluence Energy during the 3rd quarter worth $175,000. Barclays PLC boosted its position in Fluence Energy by 296.8% in the 3rd quarter. Barclays PLC now owns 181,766 shares of the company’s stock valued at $4,127,000 after buying an additional 135,957 shares during the last quarter. Geode Capital Management LLC increased its stake in shares of Fluence Energy by 4.2% in the 3rd quarter. Geode Capital Management LLC now owns 1,508,003 shares of the company’s stock valued at $34,253,000 after buying an additional 60,633 shares during the period. Finally, Franklin Resources Inc. lifted its stake in shares of Fluence Energy by 11.8% during the third quarter. Franklin Resources Inc. now owns 166,613 shares of the company’s stock valued at $3,644,000 after acquiring an additional 17,551 shares during the period. Institutional investors and hedge funds own 53.16% of the company’s stock.

Fluence Energy Stock Performance

The company has a quick ratio of 1.14, a current ratio of 1.57 and a debt-to-equity ratio of 0.74. The firm has a market cap of $660.84 million, a P/E ratio of -72.80 and a beta of 2.48. The firm has a fifty day moving average of $5.49 and a 200-day moving average of $13.77.

Fluence Energy (NASDAQ:FLNC) last announced its quarterly earnings data 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%. Research analysts predict 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.