Fluence Energy (NASDAQ:FLNC) Stock Price Down 5.9% After Analyst Downgrade

Fluence Energy, Inc. (NASDAQ:FLNC - Get Free Report) shares traded down 5.9% on Thursday after Roth Capital downgraded the stock from a strong-buy rating to a hold rating. The stock traded as low as $6.14 and last traded at $6.15. 8,752,647 shares traded hands during trading, an increase of 45% from the average session volume of 6,019,060 shares. The stock had previously closed at $6.53.

Several other equities research analysts have also weighed in on FLNC. UBS Group lowered Fluence Energy from a "buy" rating to a "neutral" rating and dropped their price target for the company from $28.00 to $8.00 in a research report on Wednesday, February 12th. Wolfe Research downgraded shares of Fluence Energy from an "outperform" rating to a "peer perform" rating in a research report on Wednesday, February 12th. Canaccord Genuity Group lowered their price objective on shares of Fluence Energy from $34.00 to $14.00 and set a "buy" rating on the stock in a research report on Wednesday, February 12th. Jefferies Financial Group cut shares of Fluence Energy from a "buy" rating to a "hold" rating and dropped their price target for the stock from $22.00 to $15.00 in a research note on Wednesday, January 22nd. Finally, Truist Financial lowered their price target on shares of Fluence Energy from $28.00 to $13.00 and set a "buy" rating on the stock in a report on Wednesday, February 12th. One research analyst has rated the stock with a sell rating, fifteen have issued a hold rating and eight have given a buy rating to the stock. According to data from MarketBeat.com, Fluence Energy currently has an average rating of "Hold" and an average price target of $14.64.

Insiders Place Their Bets

In related news, Director Herman E. Bulls acquired 30,000 shares of the firm's stock in a transaction dated Thursday, February 13th. The shares were purchased at an average cost of $6.53 per share, for a total transaction of $195,900.00. Following the acquisition, the director now owns 105,861 shares in the company, valued at $691,272.33. The trade was a 39.55 % increase in their position. The purchase was disclosed in a document filed with the Securities & Exchange Commission, which is available at the SEC website. 0.65% of the stock is currently owned by insiders.

Institutional Trading of Fluence Energy

Institutional investors have recently added to or reduced their stakes in the stock. CWM LLC boosted its position in shares of Fluence Energy by 164.4% during the third quarter. CWM LLC now owns 2,842 shares of the company's stock worth $65,000 after buying an additional 1,767 shares during the period. Blue Trust Inc. increased its stake in Fluence Energy by 45.3% during the third quarter. Blue Trust Inc. now owns 4,821 shares of the company's stock worth $109,000 after purchasing an additional 1,502 shares during the period. International Assets Investment Management LLC boosted its holdings in Fluence Energy by 2,170.9% in the third quarter. International Assets Investment Management LLC now owns 10,787 shares of the company's stock valued at $245,000 after purchasing an additional 10,312 shares during the period. Mirae Asset Global Investments Co. Ltd. acquired a new position in Fluence Energy during the 3rd quarter worth $1,375,000. Finally, US Bancorp DE raised its position in Fluence Energy by 676.6% in the 3rd quarter. US Bancorp DE now owns 1,693 shares of the company's stock valued at $38,000 after purchasing an additional 1,475 shares in the last quarter. Institutional investors and hedge funds own 53.16% of the company's stock.

Fluence Energy Stock Up 4.0 %

The firm has a market capitalization of $1.16 billion, a price-to-earnings ratio of 49.46, a P/E/G ratio of 0.49 and a beta of 2.37. The stock has a 50-day moving average price of $14.60 and a 200 day moving average price of $17.95.

Fluence Energy (NASDAQ:FLNC - Get Free Report) last announced its quarterly earnings results on Monday, February 10th. The company reported ($0.32) earnings per share (EPS) for the quarter, missing analysts' consensus estimates of ($0.17) by ($0.15). Fluence Energy had a net margin of 0.89% and a return on equity of 4.10%. As a group, equities analysts forecast that Fluence Energy, Inc. will post 0.48 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.