Fluence Energy (NASDAQ:FLNC) Shares Down 4% on Analyst Downgrade

Fluence Energy, Inc. (NASDAQ:FLNC) traded down 4% on Monday after Susquehanna lowered their price target on the stock from $10.00 to $8.00. Susquehanna currently has a positive rating on the stock. Fluence Energy traded as low as $4.02 and last traded at $4.00. 359,882 shares traded hands during trading, a decline of 89% from the average session volume of 3,303,578 shares. The stock had previously closed at $4.16.

Other research analysts have also recently issued research reports about the stock. Guggenheim cut shares of Fluence Energy from a “buy” rating to a “sell” rating and lowered their target price for the company from $26.00 to $6.00 in a research note on Tuesday, February 11th. Jefferies Financial Group downgraded Fluence Energy from a “buy” rating to a “hold” rating and decreased their target price for the company from $22.00 to $15.00 in a research note on Wednesday, January 22nd. Barclays reaffirmed an “equal weight” rating and set a $5.00 price objective (down from $9.00) on shares of Fluence Energy in a report on Tuesday, April 8th. Canaccord Genuity Group decreased their price target on shares of Fluence Energy from $34.00 to $14.00 and set a “buy” rating on the stock in a research note on Wednesday, February 12th. Finally, BMO Capital Markets lowered Fluence Energy from an “outperform” rating to a “market perform” rating and cut their price objective for the company from $22.00 to $10.00 in a research report on Tuesday, February 11th. 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 $12.69.

Insider Transactions at Fluence Energy

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

Institutional Inflows and Outflows

Institutional investors and hedge funds have recently modified their holdings of the company. Vanguard Group Inc. increased its position in shares of Fluence Energy by 1.8% during the fourth quarter. Vanguard Group Inc. now owns 6,252,320 shares of the company’s stock worth $99,287,000 after purchasing an additional 110,256 shares in the last quarter. Zimmer Partners LP increased its position in Fluence Energy by 757.7% during the 4th quarter. Zimmer Partners LP now owns 2,144,301 shares of the company’s stock valued at $34,052,000 after buying an additional 1,894,301 shares in the last quarter. Clearbridge Investments LLC raised its stake in Fluence Energy by 19.1% in the fourth quarter. Clearbridge Investments LLC now owns 1,849,301 shares of the company’s stock valued at $29,367,000 after buying an additional 296,325 shares during the last quarter. Point72 Asset Management L.P. raised its position in shares of Fluence Energy by 63.5% in the 4th quarter. Point72 Asset Management L.P. now owns 1,570,550 shares of the company’s stock valued at $24,940,000 after purchasing an additional 610,229 shares during the last quarter. Finally, Geode Capital Management LLC boosted its stake in Fluence Energy by 0.3% in the 4th quarter. Geode Capital Management LLC now owns 1,513,219 shares of the company’s stock worth $24,035,000 after purchasing an additional 5,216 shares in the last quarter. Hedge funds and other institutional investors own 53.16% of the company’s stock.

Fluence Energy Stock Performance

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 company has a market cap of $735.27 million, a PE ratio of -81.00 and a beta of 2.48. The firm’s 50-day simple moving average is $6.00 and its two-hundred day simple moving average is $14.04.

Fluence Energy (NASDAQ:FLNC) last announced its quarterly earnings data 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 net margin of 0.08% and a negative return on equity of 0.36%. As a group, research analysts anticipate 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.