Fluence Energy (NASDAQ:FLNC) Hits New 1-Year Low After Analyst Downgrade

Fluence Energy, Inc. (NASDAQ:FLNC - Get Free Report)'s stock price reached a new 52-week low during trading on Wednesday 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 $3.54 and last traded at $3.68, with a volume of 940050 shares traded. The stock had previously closed at $3.68.

FLNC has been the subject of several other research reports. Susquehanna reduced their price target on shares of Fluence Energy from $10.00 to $8.00 and set a "positive" rating for the company in a report on Monday, April 14th. Citigroup cut their price target on Fluence Energy from $24.00 to $10.00 and set a "neutral" rating on the stock in a report on Tuesday, February 11th. JPMorgan Chase & Co. cut Fluence Energy from an "overweight" rating to a "neutral" rating and lowered their target price for the company from $14.00 to $7.00 in a research report on Friday, April 11th. Barclays reiterated an "equal weight" rating and set a $5.00 price target (down previously from $9.00) on shares of Fluence Energy in a research report on Tuesday, April 8th. Finally, Wolfe Research cut shares of Fluence Energy from an "outperform" rating to a "peer perform" rating in a research note on Wednesday, February 12th. One equities research analyst has rated the stock with a sell rating, seventeen have issued a hold rating and six have issued a buy rating to the company's stock. Based on data from MarketBeat.com, the stock has an average rating of "Hold" and an average price target of $11.14.

Insider Activity

In other news, Director Herman E. Bulls acquired 30,000 shares of the business's stock in a transaction that occurred on Thursday, February 13th. The stock was acquired at an average cost of $6.53 per share, for a total transaction of $195,900.00. Following the completion of the acquisition, the director now owns 105,861 shares in the company, valued at approximately $691,272.33. The trade was a 39.55 % 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, 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, for a total transaction 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 represents 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.

Hedge Funds Weigh In On Fluence Energy

A number of institutional investors have recently modified their holdings of the company. Altshuler Shaham Ltd bought a new stake in Fluence Energy in the fourth quarter valued at $34,000. Alpha Wealth Funds LLC acquired a new stake in shares of Fluence Energy in the 1st quarter valued at approximately $63,000. Householder Group Estate & Retirement Specialist LLC bought a new position in shares of Fluence Energy during the fourth quarter worth $79,000. Tower Research Capital LLC TRC lifted its holdings in Fluence Energy by 827.1% during the fourth quarter. Tower Research Capital LLC TRC now owns 5,516 shares of the company's stock worth $88,000 after acquiring an additional 4,921 shares in the last quarter. Finally, Pallas Capital Advisors LLC bought a new stake in Fluence Energy during the 1st quarter worth approximately $89,000. Institutional investors own 53.16% of the company's stock.

Fluence Energy Price Performance

The company has a market cap of $639.05 million, a P/E ratio of -70.40 and a beta of 2.48. The company's 50-day moving average price is $5.23 and its 200-day moving average price is $13.40. The company has a debt-to-equity ratio of 0.74, a current ratio of 1.57 and a quick ratio of 1.14.

Fluence Energy (NASDAQ:FLNC - Get Free Report) last issued its quarterly earnings results on Monday, February 10th. The company reported ($0.32) EPS for the quarter, missing the consensus estimate 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%. As a group, sell-side analysts predict 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.