Fluence Energy (NASDAQ:FLNC) Shares Gap Down After Analyst Downgrade

Fluence Energy, Inc. (NASDAQ:FLNC)’s share price gapped down prior to trading on Tuesday after Robert W. Baird lowered their price target on the stock from $9.00 to $5.00. The stock had previously closed at $4.06, but opened at $3.94. Robert W. Baird currently has a neutral rating on the stock. Fluence Energy shares last traded at $3.93, with a volume of 256,040 shares changing hands.

Other analysts have also recently issued research reports about the stock. Piper Sandler reduced their price objective on shares of Fluence Energy from $20.00 to $10.00 and set a “neutral” rating on the stock in a research note on Wednesday, February 12th. Roth Capital downgraded Fluence Energy from a “strong-buy” rating to a “hold” rating in a research report on Wednesday, February 12th. Barclays reiterated an “equal weight” rating and issued a $5.00 target price (down from $9.00) on shares of Fluence Energy in a report on Tuesday, April 8th. Wolfe Research downgraded shares of Fluence Energy from an “outperform” rating to a “peer perform” rating in a research report on Wednesday, February 12th. Finally, Truist Financial decreased their price objective on shares of Fluence Energy from $28.00 to $13.00 and set a “buy” rating for the company in a research report on Wednesday, February 12th. One investment analyst has rated the stock with a sell rating, seventeen have issued a hold rating and six have assigned a buy rating to the stock. Based on data from MarketBeat.com, the stock has an average rating of “Hold” and a consensus price target of $11.81.

Insider Buying and Selling

In related news, CEO Julian Nebreda purchased 23,500 shares of the stock in a transaction that occurred on 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 transaction, the chief executive officer now owns 120,455 shares of the company’s stock, valued at $764,889.25. This represents a 24.24 % increase in their position. The purchase was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, 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 price 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 approximately $626,808.01. This represents a 9.45 % increase in their position. The disclosure for this purchase can be found here. Insiders have acquired 79,000 shares of company stock worth $499,665 in the last quarter. Insiders own 0.65% of the company’s stock.

Institutional Inflows and Outflows

Several hedge funds and other institutional investors have recently added to or reduced their stakes in the company. Duff & Phelps Investment Management Co. lifted its position in shares of Fluence Energy by 5.6% during the 4th quarter. Duff & Phelps Investment Management Co. now owns 27,192 shares of the company’s stock worth $432,000 after buying an additional 1,432 shares in the last quarter. Lazard Freres Gestion S.A.S. increased its position in shares of Fluence Energy by 7.3% during the fourth quarter. Lazard Freres Gestion S.A.S. now owns 22,180 shares of the company’s stock valued at $352,000 after acquiring an additional 1,500 shares during the last quarter. KBC Group NV lifted its holdings in Fluence Energy by 1.6% during the fourth quarter. KBC Group NV now owns 108,296 shares of the company’s stock worth $1,720,000 after acquiring an additional 1,671 shares during the period. Ameriprise Financial Inc. boosted its position in Fluence Energy by 0.4% in the fourth quarter. Ameriprise Financial Inc. now owns 440,002 shares of the company’s stock worth $6,988,000 after purchasing an additional 1,734 shares during the last quarter. Finally, Swiss National Bank grew its stake in Fluence Energy by 1.4% in the 4th quarter. Swiss National Bank now owns 126,800 shares of the company’s stock valued at $2,014,000 after purchasing an additional 1,800 shares during the period. 53.16% of the stock is currently owned by hedge funds and other institutional investors.

Fluence Energy Trading Down 3.1 %

The stock has a market capitalization of $714.40 million, a PE ratio of -79.28 and a beta of 2.48. 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 firm has a 50-day moving average price of $5.84 and a 200-day moving average price of $13.91.

Fluence Energy (NASDAQ:FLNC) last issued its 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 negative net margin of 0.08% and a negative return on equity of 0.36%. As a group, equities analysts forecast 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.