Fluence Energy (NASDAQ:FLNC) Stock Price Down 4% on Analyst Downgrade

Fluence Energy, Inc. (NASDAQ:FLNC)’s stock price traded down 4% during trading on Monday after Guggenheim lowered their price target on the stock from $6.00 to $2.00. Guggenheim currently has a sell rating on the stock. Fluence Energy traded as low as $4.02 and last traded at $4.00. 359,882 shares changed hands during trading, a decline of 89% from the average session volume of 3,303,578 shares. The stock had previously closed at $4.16.

Several other equities research analysts have also recently issued reports on FLNC. Citigroup lowered their price objective on Fluence Energy from $24.00 to $10.00 and set a “neutral” rating on the stock in a report on Tuesday, February 11th. Jefferies Financial Group cut 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 report on Wednesday, January 22nd. BMO Capital Markets lowered Fluence Energy from an “outperform” rating to a “market perform” rating and decreased their price objective for the company from $22.00 to $10.00 in a report on Tuesday, February 11th. Piper Sandler dropped their target price on shares of Fluence Energy from $20.00 to $10.00 and set a “neutral” rating for the company in a report on Wednesday, February 12th. Finally, Roth Mkm downgraded shares of Fluence Energy from a “buy” rating to a “neutral” rating and decreased their price target for the stock from $20.00 to $6.50 in a research note on Wednesday, February 12th. One research analyst has rated the stock with a sell rating, seventeen have assigned a hold rating and six have assigned a buy rating to the stock. Based on data from MarketBeat, the company currently has an average rating of “Hold” and an average target price of $11.62.

Insiders Place Their Bets

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

Institutional Inflows and Outflows

A number of institutional investors have recently modified their holdings of FLNC. Altshuler Shaham Ltd purchased a new position in Fluence Energy in the 4th quarter valued at $34,000. Alpha Wealth Funds LLC purchased a new stake in shares of Fluence Energy in the first quarter valued at about $63,000. Householder Group Estate & Retirement Specialist LLC acquired a new position in shares of Fluence Energy during the fourth quarter worth about $79,000. Tower Research Capital LLC TRC raised 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 purchasing an additional 4,921 shares in the last quarter. Finally, Pallas Capital Advisors LLC acquired a new stake in Fluence Energy in the first quarter valued at about $89,000. Institutional investors and hedge funds own 53.16% of the company’s stock.

Fluence Energy Stock Performance

The company has a debt-to-equity ratio of 0.74, a current ratio of 1.57 and a quick ratio of 1.14. The stock’s 50-day moving average is $5.66 and its 200 day moving average is $13.84. The stock has a market cap of $666.28 million, a price-to-earnings ratio of -73.40 and a beta of 2.48.

Fluence Energy (NASDAQ:FLNC) last posted its quarterly earnings results on Monday, February 10th. The company reported ($0.32) earnings per share for the quarter, missing analysts’ consensus estimates of ($0.17) by ($0.15). Fluence Energy had a negative net margin of 0.08% and a negative return on equity of 0.36%. As a group, analysts predict that Fluence Energy, Inc. will post 0.08 earnings per share for the current fiscal year.

About Fluence Energy

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.