Fluence Energy (NASDAQ:FLNC) Reaches New 52-Week Low Following Analyst Downgrade

Fluence Energy, Inc. (NASDAQ:FLNC - Get Free Report) hit a new 52-week low 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. The stock had previously closed at $3.69.

Several other equities research analysts have also issued reports on the company. BMO Capital Markets lowered Fluence Energy from an "outperform" rating to a "market perform" rating and decreased their target price for the company from $22.00 to $10.00 in a research report on Tuesday, February 11th. Canaccord Genuity Group decreased their price objective on shares of Fluence Energy from $14.00 to $10.00 and set a "buy" rating for the company in a report on Wednesday, April 16th. Morgan Stanley dropped their target price on shares of Fluence Energy from $20.00 to $8.00 and set an "equal weight" rating on the stock in a research note on Wednesday, February 12th. Guggenheim decreased their price target on shares of Fluence Energy from $6.00 to $2.00 and set a "sell" rating for the company in a research note on Tuesday, April 15th. Finally, UBS Group lowered their price target on shares of Fluence Energy from $8.00 to $4.50 and set a "neutral" rating on the stock in a report on Monday, April 14th. One investment analyst has rated the stock with a sell rating, seventeen have given a hold rating and six have given a buy rating to the stock. Based on data from MarketBeat, the stock currently has a consensus rating of "Hold" and an average target price of $10.95.

Insider Activity

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

Hedge Funds Weigh In On Fluence Energy

A number of hedge funds and other institutional investors have recently bought and sold shares of FLNC. Altshuler Shaham Ltd bought a new stake in shares of Fluence Energy during the 4th quarter worth $34,000. Alpha Wealth Funds LLC bought a new stake in Fluence Energy during the first quarter worth about $63,000. Householder Group Estate & Retirement Specialist LLC purchased a new position in shares of Fluence Energy in the 4th quarter worth about $79,000. Tower Research Capital LLC TRC boosted its holdings in shares of Fluence Energy by 827.1% in the 4th quarter. Tower Research Capital LLC TRC now owns 5,516 shares of the company's stock worth $88,000 after purchasing an additional 4,921 shares in the last quarter. Finally, Pallas Capital Advisors LLC bought a new position in shares of Fluence Energy during the 1st quarter valued at about $89,000. Hedge funds and other institutional investors own 53.16% of the company's stock.

Fluence Energy Stock Up 6.9 %

The company has a market cap of $758.87 million, a P/E ratio of -83.60 and a beta of 2.48. The stock has a 50-day moving average of $4.96 and a two-hundred day moving average of $12.91. The company has a debt-to-equity ratio of 0.74, a quick ratio of 1.14 and a current ratio of 1.57.

Fluence Energy (NASDAQ:FLNC - Get Free Report) last posted 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%. On average, research analysts anticipate that Fluence Energy, Inc. will post 0.08 EPS 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.