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

Fluence Energy, Inc. (NASDAQ:FLNCGet Free Report)’s share price gapped down before the market opened on Thursday after Barclays downgraded the stock from an equal weight rating to an underweight rating. The stock had previously closed at $10.56, but opened at $10.01. Barclays now has a $10.00 price target on the stock. Fluence Energy shares last traded at $9.9690, with a volume of 1,843,986 shares.

Other equities research analysts also recently issued research reports about the company. Weiss Ratings reaffirmed a “sell (e+)” rating on shares of Fluence Energy in a research report on Wednesday, August 5th. The Goldman Sachs Group reissued a “buy” rating and set a $22.00 price target on shares of Fluence Energy in a research report on Thursday, May 7th. Wall Street Zen cut shares of Fluence Energy from a “hold” rating to a “sell” rating in a report on Saturday, May 9th. Truist Financial assumed coverage on shares of Fluence Energy in a research report on Monday, July 13th. They issued a “hold” rating and a $16.00 price objective on the stock. Finally, JPMorgan Chase & Co. boosted their price objective on shares of Fluence Energy from $13.00 to $17.00 and gave the stock a “neutral” rating in a research note on Friday, May 8th. Six analysts have rated the stock with a Buy rating, thirteen have given a Hold rating and four have issued a Sell rating to the stock. According to data from MarketBeat, Fluence Energy has an average rating of “Hold” and a consensus price target of $17.73.

Get Our Latest Report on Fluence Energy

Insider Activity

In other Fluence Energy news, Director Heynitz Harald Von sold 5,000 shares of the firm’s stock in a transaction dated Monday, June 15th. The stock was sold at an average price of $25.00, for a total value of $125,000.00. Following the completion of the sale, the director owned 58,550 shares of the company’s stock, valued at approximately $1,463,750. This trade represents a 7.87% decrease in their ownership of the stock. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through the SEC website. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Also, SVP John Zahurancik sold 16,000 shares of the business’s stock in a transaction dated Monday, June 22nd. The stock was sold at an average price of $25.18, for a total value of $402,880.00. Following the sale, the senior vice president owned 87,145 shares in the company, valued at $2,194,311.10. The trade was a 15.51% decrease in their position. The disclosure for this sale is available in the SEC filing. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Insiders have sold a total of 36,974 shares of company stock worth $879,787 over the last ninety days. 0.69% of the stock is currently owned by corporate insiders.

Institutional Trading of Fluence Energy

Large investors have recently bought and sold shares of the stock. EverSource Wealth Advisors LLC increased its stake in Fluence Energy by 31.8% during the 1st quarter. EverSource Wealth Advisors LLC now owns 2,782 shares of the company’s stock valued at $38,000 after purchasing an additional 672 shares in the last quarter. Sei Investments Co. grew its holdings in shares of Fluence Energy by 4.5% during the first quarter. Sei Investments Co. now owns 16,222 shares of the company’s stock valued at $223,000 after buying an additional 703 shares during the last quarter. SBI Securities Co. Ltd. grew its holdings in shares of Fluence Energy by 10.7% during the fourth quarter. SBI Securities Co. Ltd. now owns 9,638 shares of the company’s stock valued at $191,000 after buying an additional 935 shares during the last quarter. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. increased its position in shares of Fluence Energy by 1.1% in the 3rd quarter. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. now owns 100,185 shares of the company’s stock valued at $1,082,000 after acquiring an additional 1,082 shares during the period. Finally, New York State Common Retirement Fund increased its position in shares of Fluence Energy by 5.8% in the 4th quarter. New York State Common Retirement Fund now owns 20,095 shares of the company’s stock valued at $397,000 after acquiring an additional 1,100 shares during the period. 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 $1.87 billion, a PE ratio of -16.58 and a beta of 2.74. The company has a debt-to-equity ratio of 0.91, a quick ratio of 0.89 and a current ratio of 1.34. The stock has a 50 day moving average of $14.14 and a 200-day moving average of $16.53.

Fluence Energy (NASDAQ:FLNCGet Free Report) last posted its quarterly earnings results on Wednesday, August 5th. The company reported ($0.24) earnings per share for the quarter. The firm had revenue of $649.85 million for the quarter, compared to analysts’ expectations of $818.57 million. Fluence Energy had a negative net margin of 3.13% and a negative return on equity of 16.79%. The firm’s revenue for the quarter was up 7.9% compared to the same quarter last year. During the same quarter in the previous year, the firm posted $0.01 EPS. Equities analysts predict that Fluence Energy, Inc. will post -0.51 earnings per share for the current year.

Fluence Energy Company Profile

(Get Free Report)

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.

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