Fluence Energy (NASDAQ:FLNC) Hits New 52-Week Low – Time to Sell?

Fluence Energy, Inc. (NASDAQ:FLNC) shares hit a new 52-week low during mid-day trading on Monday . The stock traded as low as $4.63 and last traded at $4.78, with a volume of 855245 shares changing hands. The stock had previously closed at $4.98.

Analyst Upgrades and Downgrades

A number of analysts recently weighed in on FLNC shares. Jefferies Financial Group lowered shares of Fluence Energy from a “buy” rating to a “hold” rating and cut their target price for the stock from $22.00 to $15.00 in a research note on Wednesday, January 22nd. Baird R W lowered shares of Fluence Energy from a “strong-buy” rating to a “hold” rating in a report on Wednesday, December 18th. Roth Capital lowered Fluence Energy from a “strong-buy” rating to a “hold” rating in a report on Wednesday, February 12th. The Goldman Sachs Group lowered their price objective on Fluence Energy from $26.00 to $13.00 and set a “buy” rating for the company in a research report on Wednesday, February 12th. Finally, Guggenheim cut Fluence Energy from a “buy” rating to a “sell” rating and decreased their target price for the stock from $26.00 to $6.00 in a research note on Tuesday, February 11th. One research analyst has rated the stock with a sell rating, fifteen have given a hold rating and nine have given a buy rating to the company’s stock. According to MarketBeat, the company has an average rating of “Hold” and an average target price of $14.34.

Fluence Energy Stock Performance

The stock’s fifty day simple moving average is $7.80 and its 200-day simple moving average is $15.23. The company has a quick ratio of 1.14, a current ratio of 1.57 and a debt-to-equity ratio of 0.74. The company has a market capitalization of $871.44 million, a PE ratio of -96.00 and a beta of 2.49.

Fluence Energy (NASDAQ:FLNC) last released its quarterly earnings data on Monday, February 10th. The company reported ($0.32) earnings per share for the quarter, missing the consensus estimate 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%. On average, research analysts predict that Fluence Energy, Inc. will post 0.08 earnings per share for the current fiscal year.

Insider Activity at Fluence Energy

In other Fluence Energy news, Director Herman E. Bulls purchased 10,000 shares of the stock in a transaction dated Wednesday, March 5th. The shares were acquired at an average cost of $5.41 per share, for a total transaction of $54,100.00. Following the completion of the transaction, the director now directly owns 115,861 shares of the company’s stock, valued at $626,808.01. This trade represents a 9.45 % increase in their ownership of the stock. The purchase was disclosed in a filing with the SEC, which is available through this hyperlink. Also, CFO Ahmed Pasha acquired 15,500 shares of the business’s stock in a transaction that occurred on Friday, February 14th. The shares were bought at an average price of $6.48 per share, with a total value of $100,440.00. Following the completion of the transaction, the chief financial officer now directly owns 24,703 shares in the company, valued at approximately $160,075.44. The trade was a 168.42 % increase in their ownership of the stock. The disclosure for this purchase can be found here. In the last three months, insiders have acquired 79,000 shares of company stock valued at $499,665. Insiders own 0.65% of the company’s stock.

Institutional Trading of Fluence Energy

A number of hedge funds and other institutional investors have recently added to or reduced their stakes in FLNC. Zimmer Partners LP boosted its stake in shares of Fluence Energy by 757.7% during the 4th quarter. Zimmer Partners LP now owns 2,144,301 shares of the company’s stock worth $34,052,000 after purchasing an additional 1,894,301 shares during the last quarter. Point72 Asset Management L.P. purchased a new position in shares of Fluence Energy during the third quarter valued at approximately $21,809,000. Webs Creek Capital Management LP acquired a new stake in Fluence Energy during the fourth quarter worth approximately $15,118,000. Covalis Capital LLP purchased a new stake in Fluence Energy in the 4th quarter worth approximately $12,113,000. Finally, Trexquant Investment LP raised its holdings in Fluence Energy by 577.5% in the 4th quarter. Trexquant Investment LP now owns 876,463 shares of the company’s stock valued at $13,918,000 after acquiring an additional 747,103 shares during the last quarter. Hedge funds and other institutional investors own 53.16% of the company’s stock.

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.