Fluence Energy (NASDAQ:FLNC) Trading Down 4% After Analyst Downgrade

Fluence Energy, Inc. (NASDAQ:FLNC - Get Free Report) shares fell 4% during mid-day trading on Monday after Canaccord Genuity Group lowered their price target on the stock from $14.00 to $10.00. Canaccord Genuity Group currently has a buy rating on the stock. Fluence Energy traded as low as $4.02 and last traded at $4.00. Approximately 359,882 shares changed hands during mid-day trading, a decline of 89% from the average daily volume of 3,303,578 shares. The stock had previously closed at $4.16.

Several other research analysts also recently commented on FLNC. Bank of America downgraded Fluence Energy from a "buy" rating to a "neutral" rating and lowered their target price for the stock from $20.00 to $8.00 in a research note on Thursday, February 13th. Roth Capital downgraded Fluence Energy from a "strong-buy" rating to a "hold" rating in a report on Wednesday, February 12th. Robert W. Baird reduced their target price on shares of Fluence Energy from $9.00 to $5.00 and set a "neutral" rating on the stock in a report on Tuesday. Royal Bank of Canada downgraded shares of Fluence Energy from an "outperform" rating to a "sector perform" rating and dropped their price target for the company from $25.00 to $7.00 in a research note on Wednesday, February 12th. Finally, Jefferies Financial Group downgraded Fluence Energy from a "buy" rating to a "hold" rating and decreased their price objective for the company from $22.00 to $15.00 in a report on Wednesday, January 22nd. 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. According to data from MarketBeat.com, the company currently has an average rating of "Hold" and a consensus price target of $11.43.

Insider Activity at Fluence Energy

In other Fluence Energy news, CEO Julian Nebreda purchased 23,500 shares of the company'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 completion of the acquisition, the chief executive officer now owns 120,455 shares of the company's stock, valued at $764,889.25. The trade was a 24.24 % increase in their position. The purchase was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through this link. Also, Director Herman E. Bulls acquired 10,000 shares of Fluence Energy stock in a transaction on Wednesday, March 5th. The stock was acquired at an average price of $5.41 per share, with a total value of $54,100.00. Following the purchase, the director now directly owns 115,861 shares in the company, valued at approximately $626,808.01. This trade represents a 9.45 % increase in their ownership of the stock. The disclosure for this purchase can be found here. Insiders have bought 79,000 shares of company stock valued at $499,665 over the last ninety days. Corporate insiders own 0.65% of the company's stock.

Institutional Investors Weigh In On Fluence Energy

A number of hedge funds have recently made changes to their positions in the business. Sanders Morris Harris LLC bought a new stake in shares of Fluence Energy in the fourth quarter valued at $812,000. Cidel Asset Management Inc. bought a new stake in shares of Fluence Energy in the fourth quarter valued at approximately $350,000. SG Americas Securities LLC lifted its stake in shares of Fluence Energy by 79.2% during the 4th quarter. SG Americas Securities LLC now owns 48,883 shares of the company's stock valued at $776,000 after buying an additional 21,597 shares in the last quarter. Prescott Group Capital Management L.L.C. bought a new position in Fluence Energy in the 4th quarter worth approximately $1,429,000. Finally, Principal Financial Group Inc. purchased a new stake in shares of Fluence Energy during the third quarter worth $5,742,000. 53.16% of the stock is currently owned by institutional investors.

Fluence Energy Stock Performance

The company has a 50-day moving average price of $5.23 and a two-hundred day moving average price of $13.51. The company has a market capitalization of $669.92 million, a PE ratio of -73.80 and a beta of 2.48. The company has a quick ratio of 1.14, a current ratio of 1.57 and a debt-to-equity ratio of 0.74.

Fluence Energy (NASDAQ:FLNC - Get Free Report) last posted 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%. Analysts predict 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.