Fluence Energy (NASDAQ:FLNC) Downgraded by Zacks Research to “Hold”

Fluence Energy (NASDAQ:FLNC) was downgraded by equities researchers at Zacks Research from a “strong-buy” rating to a “hold” rating in a research note issued on Wednesday,Zacks.com reports.

A number of other research firms have also recently commented on FLNC. Citigroup raised Fluence Energy from a “neutral” rating to a “buy” rating and decreased their price target for the company from $26.00 to $24.00 in a report on Wednesday, July 22nd. Royal Bank Of Canada dropped their price objective on Fluence Energy from $16.00 to $15.00 and set a “sector perform” rating for the company in a research note on Friday, August 7th. JPMorgan Chase & Co. increased their target price on Fluence Energy from $13.00 to $17.00 and gave the stock a “neutral” rating in a research report on Friday, May 8th. Glj Research began coverage on Fluence Energy in a report on Wednesday, July 1st. They issued a “buy” rating and a $26.00 price target on the stock. Finally, Truist Financial began coverage on Fluence Energy in a report on Monday, July 13th. They issued a “hold” rating and a $16.00 price target on the stock. Seven research analysts have rated the stock with a Buy rating, twelve have issued a Hold rating and four have issued a Sell rating to the company. Based on data from MarketBeat, the stock presently has an average rating of “Hold” and an average target price of $18.79.

Fluence Energy Stock Performance

FLNC opened at $13.22 on Wednesday. The company has a 50 day simple moving average of $17.50 and a two-hundred day simple moving average of $17.89. The company has a debt-to-equity ratio of 0.91, a current ratio of 1.34 and a quick ratio of 0.89. The firm has a market cap of $2.44 billion, a P/E ratio of -21.67 and a beta of 2.78. Fluence Energy has a 1-year low of $6.60 and a 1-year high of $33.51.

Fluence Energy (NASDAQ:FLNC) last announced its quarterly earnings data on Wednesday, August 5th. The company reported ($0.24) EPS for the quarter. Fluence Energy had a negative net margin of 3.13% and a negative return on equity of 16.79%. The firm had revenue of $649.85 million for the quarter, compared to the consensus estimate of $818.57 million. During the same quarter in the previous year, the business earned $0.01 earnings per share. The firm’s revenue for the quarter was up 7.9% on a year-over-year basis. Equities analysts forecast that Fluence Energy will post -0.35 earnings per share for the current fiscal year.

Insider Activity

In related news, Director Heynitz Harald Von sold 5,000 shares of the stock in a transaction that occurred on Monday, June 15th. The stock was sold at an average price of $25.00, for a total transaction of $125,000.00. Following the completion of the transaction, the director directly owned 58,550 shares of the company’s stock, valued at approximately $1,463,750. This represents a 7.87% decrease in their ownership of the stock. The sale was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this link. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Also, SVP John Zahurancik sold 15,974 shares of the firm’s stock in a transaction that occurred on Tuesday, June 23rd. The shares were sold at an average price of $22.03, for a total value of $351,907.22. Following the transaction, the senior vice president owned 71,171 shares of the company’s stock, valued at $1,567,897.13. This represents a 18.33% decrease in their position. The SEC filing for this sale provides additional information. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Insiders sold 36,974 shares of company stock worth $879,787 over the last ninety days. Insiders own 0.69% of the company’s stock.

Institutional Inflows and Outflows

A number of hedge funds and other institutional investors have recently modified their holdings of FLNC. Curio Wealth LLC purchased a new stake in Fluence Energy during the fourth quarter valued at $31,000. State of Wyoming bought a new position in Fluence Energy during the fourth quarter valued at $36,000. EverSource Wealth Advisors LLC grew its stake in shares of Fluence Energy by 31.8% in the 1st quarter. EverSource Wealth Advisors LLC now owns 2,782 shares of the company’s stock worth $38,000 after buying an additional 672 shares in the last quarter. Advisory Services Network LLC purchased a new position in shares of Fluence Energy in the 3rd quarter worth $48,000. Finally, Sankala Group LLC bought a new stake in shares of Fluence Energy in the 4th quarter worth about $51,000. 53.16% of the stock is currently owned by institutional investors.

Fluence Energy Company Profile

Fluence Energy is a leading global provider of energy storage products and services, specializing in the deployment of advanced battery systems to support grid stability and renewable integration. The company develops, engineers and delivers turnkey energy storage solutions designed to optimize the reliability, efficiency and economic performance of power networks. By combining hardware, software and lifecycle services, Fluence addresses the growing need for flexible energy assets in an evolving electricity landscape.

The company’s core offerings include modular energy storage platforms that pair lithium-ion battery technology with control and optimization software.