Fluence Energy (NASDAQ:FLNC) Sets New 52-Week Low on Analyst Downgrade

Shares of Fluence Energy, Inc. (NASDAQ:FLNC) hit a new 52-week low during mid-day trading 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 trading hands. The stock had previously closed at $3.69.

Other equities research analysts also recently issued reports about the stock. Roth Capital downgraded shares of Fluence Energy from a “strong-buy” rating to a “hold” rating in a research note on Wednesday, February 12th. Citigroup reduced their target price on Fluence Energy from $24.00 to $10.00 and set a “neutral” rating on the stock in a report on Tuesday, February 11th. Roth Mkm downgraded Fluence Energy from a “buy” rating to a “neutral” rating and dropped their price objective for the stock from $20.00 to $6.50 in a research report on Wednesday, February 12th. Barclays reaffirmed 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. Finally, Truist Financial reduced their price target on shares of Fluence Energy from $28.00 to $13.00 and set a “buy” rating on the stock in a research note on Wednesday, February 12th. One 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. Based on data from MarketBeat.com, the stock presently has a consensus rating of “Hold” and an average target price of $11.14.

Insider Transactions at Fluence Energy

In related news, Director Herman E. Bulls bought 30,000 shares of the business’s stock in a transaction that occurred on Thursday, February 13th. The shares were acquired at an average cost of $6.53 per share, with a total value of $195,900.00. Following the completion of the purchase, the director now directly owns 105,861 shares in the company, valued at $691,272.33. The trade was a 39.55 % increase in their ownership of the stock. The transaction was disclosed in a legal filing with the SEC, which can be accessed through this hyperlink. Also, CFO Ahmed Pasha acquired 15,500 shares of the company’s stock in a transaction dated Friday, February 14th. The shares were bought 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 directly owns 24,703 shares of the company’s stock, valued at approximately $160,075.44. This trade represents a 168.42 % increase in their position. The disclosure for this purchase can be found here. In the last ninety days, insiders acquired 79,000 shares of company stock valued at $499,665. Corporate insiders own 0.65% of the company’s stock.

Institutional Trading of Fluence Energy

Hedge funds have recently bought and sold shares of the business. Altshuler Shaham Ltd bought a new stake in shares of Fluence Energy during the fourth quarter worth about $34,000. Alpha Wealth Funds LLC bought a new position in shares of Fluence Energy in the first quarter valued at approximately $63,000. Householder Group Estate & Retirement Specialist LLC purchased a new position in shares of Fluence Energy during the fourth quarter valued at approximately $79,000. Tower Research Capital LLC TRC raised its position 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 valued at $88,000 after buying an additional 4,921 shares during the last quarter. Finally, Pallas Capital Advisors LLC purchased a new position in Fluence Energy during the 1st quarter worth $89,000. Institutional investors and hedge funds own 53.16% of the company’s stock.

Fluence Energy Stock Performance

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 company’s 50 day moving average price is $5.17 and its 200-day moving average price is $13.27. The stock has a market cap of $655.39 million, a P/E ratio of -72.20 and a beta of 2.48.

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 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%. Equities analysts forecast that Fluence Energy, Inc. will post 0.08 EPS 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.