Fluence Energy (NASDAQ:FLNC) Sets New 1-Year Low - What's Next?

Fluence Energy, Inc. (NASDAQ:FLNC - Get Free Report)'s stock price reached a new 52-week low during mid-day trading on Thursday . The stock traded as low as $6.03 and last traded at $6.17, with a volume of 906856 shares. The stock had previously closed at $6.15.

Wall Street Analysts Forecast Growth

A number of equities research analysts recently commented on the company. The Goldman Sachs Group decreased their price objective on Fluence Energy from $26.00 to $13.00 and set a "buy" rating for the company in a research note on Wednesday, February 12th. 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 research report on Wednesday, January 22nd. Roth Mkm cut shares of Fluence Energy from a "buy" rating to a "neutral" rating and decreased their price objective for the company from $20.00 to $6.50 in a report on Wednesday, February 12th. Bank of America downgraded shares of Fluence Energy from a "buy" rating to a "neutral" rating and lowered their target price for the company from $20.00 to $8.00 in a research note on Thursday, February 13th. Finally, BNP Paribas raised shares of Fluence Energy from an "underperform" rating to a "neutral" rating and set a $22.00 price target on the stock in a research report on Friday, November 8th. One equities research analyst has rated the stock with a sell rating, fifteen have issued a hold rating and eight have issued a buy rating to the stock. According to MarketBeat, Fluence Energy has an average rating of "Hold" and an average target price of $14.64.

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Fluence Energy Stock Down 9.3 %

The firm's 50 day simple moving average is $12.59 and its 200-day simple moving average is $17.32. 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 stock has a market capitalization of $942.24 million, a price-to-earnings ratio of -103.80 and a beta of 2.37.

Fluence Energy (NASDAQ:FLNC - Get Free Report) last released its earnings results on Monday, February 10th. The company reported ($0.32) earnings per share (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%. Equities analysts expect that Fluence Energy, Inc. will post 0.08 earnings per share for the current fiscal year.

Insider Activity

In other news, Director Herman E. Bulls bought 30,000 shares of the company's stock in a transaction dated Thursday, February 13th. The shares were bought at an average cost of $6.53 per share, with a total value of $195,900.00. Following the acquisition, 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 transaction was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this link. Also, CFO Ahmed Pasha purchased 15,500 shares of Fluence Energy stock in a transaction that occurred on Friday, February 14th. The shares were acquired at an average price of $6.48 per share, with a total value of $100,440.00. Following the acquisition, the chief financial officer now directly owns 24,703 shares of the company's stock, valued at $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 90 days, insiders purchased 79,000 shares of company stock valued at $601,265. 0.65% of the stock is owned by insiders.

Institutional Investors Weigh In On Fluence Energy

Large investors have recently added to or reduced their stakes in the business. Altshuler Shaham Ltd acquired a new position in shares of Fluence Energy in the fourth quarter valued at $34,000. US Bancorp DE boosted its holdings in shares of Fluence Energy by 676.6% during the 3rd quarter. US Bancorp DE now owns 1,693 shares of the company's stock worth $38,000 after buying an additional 1,475 shares during the period. Point72 DIFC Ltd acquired a new position in Fluence Energy in the 3rd quarter valued at about $74,000. Householder Group Estate & Retirement Specialist LLC bought a new position in Fluence Energy in the 4th quarter valued at about $79,000. Finally, Point72 Asia Singapore Pte. Ltd. acquired a new stake in Fluence Energy during the third quarter worth approximately $87,000. Institutional investors own 53.16% of the company's stock.

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.