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

Fluence Energy, Inc. (NASDAQ:FLNC) gapped down prior to trading on Monday after Johnson Rice downgraded the stock from a buy rating to a hold rating. The stock had previously closed at $23.96, but opened at $22.58. Johnson Rice now has a $18.00 price target on the stock. Fluence Energy shares last traded at $22.6610, with a volume of 1,436,678 shares trading hands.

A number of other equities analysts have also recently commented on the stock. Jefferies Financial Group raised shares of Fluence Energy from an “underperform” rating to a “hold” rating and lifted their target price for the company from $11.00 to $16.00 in a report on Wednesday, November 26th. JPMorgan Chase & Co. upped their target price on shares of Fluence Energy from $9.00 to $10.00 and gave the company a “neutral” rating in a report on Thursday, October 16th. Hsbc Global Res downgraded shares of Fluence Energy from a “hold” rating to a “moderate sell” rating in a research note on Wednesday, August 13th. Wall Street Zen upgraded Fluence Energy from a “sell” rating to a “hold” rating in a research report on Sunday, November 2nd. Finally, Susquehanna increased their price objective on Fluence Energy from $17.00 to $20.00 and gave the stock a “positive” rating in a research report on Wednesday, November 26th. Four research analysts have rated the stock with a Buy rating, seventeen have given a Hold rating and six have issued a Sell rating to the stock. According to MarketBeat, the company currently has a consensus rating of “Reduce” and a consensus target price of $12.93.

Hedge Funds Weigh In On Fluence Energy

A number of large investors have recently made changes to their positions in the stock. Advisory Services Network LLC purchased a new position in Fluence Energy in the third quarter valued at about $48,000. Parallel Advisors LLC purchased a new stake in shares of Fluence Energy during the 2nd quarter worth approximately $30,000. Quantbot Technologies LP acquired a new stake in shares of Fluence Energy in the 3rd quarter worth approximately $51,000. Quarry LP increased its stake in Fluence Energy by 4,371.4% in the 3rd quarter. Quarry LP now owns 5,947 shares of the company’s stock valued at $64,000 after purchasing an additional 5,814 shares in the last quarter. Finally, Ameritas Investment Partners Inc. boosted its position in Fluence Energy by 25.7% during the second quarter. Ameritas Investment Partners Inc. now owns 7,753 shares of the company’s stock worth $52,000 after purchasing an additional 1,586 shares in the last quarter. Hedge funds and other institutional investors own 53.16% of the company’s stock.

Fluence Energy Price Performance

The company has a market cap of $4.10 billion, a price-to-earnings ratio of -53.20 and a beta of 2.88. The company has a fifty day simple moving average of $17.76 and a two-hundred day simple moving average of $11.00. The company has a quick ratio of 1.17, a current ratio of 1.51 and a debt-to-equity ratio of 0.71.

Fluence Energy (NASDAQ:FLNC) last released its quarterly earnings results on Monday, November 24th. The company reported $0.13 earnings per share (EPS) for the quarter, missing the consensus estimate of $0.23 by ($0.10). Fluence Energy had a negative return on equity of 9.21% and a negative net margin of 2.14%.The firm had revenue of $1.04 billion for the quarter, compared to analyst estimates of $1.39 billion. During the same period last year, the firm earned $0.34 EPS. The company’s quarterly revenue was down 15.2% compared to the same quarter last year. On average, equities research analysts anticipate 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.