Fluence Energy (NASDAQ:FLNC) Trading Down 6.2% – Time to Sell?

Shares of Fluence Energy, Inc. (NASDAQ:FLNC) traded down 6.2% during mid-day trading on Monday . The company traded as low as $22.40 and last traded at $22.6610. 3,890,291 shares were traded during trading, a decline of 36% from the average session volume of 6,048,620 shares. The stock had previously closed at $24.16.

Analysts Set New Price Targets

Several research firms recently commented on FLNC. Wall Street Zen cut Fluence Energy from a “hold” rating to a “sell” rating in a research note on Saturday. Royal Bank Of Canada upped their price objective on Fluence Energy from $12.00 to $16.00 and gave the company a “sector perform” rating in a research note on Monday. Canaccord Genuity Group set a $28.00 price objective on Fluence Energy in a research note on Friday. Citigroup cut their price objective on Fluence Energy from $20.00 to $15.00 and set a “neutral” rating on the stock in a research note on Tuesday, April 21st. Finally, BMO Capital Markets restated a “market perform” rating and set a $15.00 price objective on shares of Fluence Energy in a research note on Wednesday, April 29th. Five analysts have rated the stock with a Buy rating, eleven have issued a Hold rating and five have given a Sell rating to the stock. Based on data from MarketBeat.com, the company currently has a consensus rating of “Hold” and an average price target of $18.82.

Fluence Energy Price Performance

The company has a 50 day simple moving average of $14.61 and a 200-day simple moving average of $18.78. The stock has a market cap of $4.64 billion, a price-to-earnings ratio of -70.08 and a beta of 2.62. The company has a quick ratio of 0.91, a current ratio of 1.43 and a debt-to-equity ratio of 0.85.

Fluence Energy (NASDAQ:FLNC) last announced its quarterly earnings data on Wednesday, May 6th. The company reported ($0.16) earnings per share (EPS) for the quarter, beating the consensus estimate of ($0.18) by $0.02. The firm had revenue of $464.89 million for the quarter, compared to analysts’ expectations of $614.93 million. Fluence Energy had a negative return on equity of 8.29% and a negative net margin of 1.64%.Fluence Energy’s revenue for the quarter was up 7.7% compared to the same quarter last year. During the same quarter in the prior year, the firm posted ($0.24) earnings per share. As a group, research analysts anticipate that Fluence Energy, Inc. will post -0.22 EPS for the current fiscal year.

Insider Activity at Fluence Energy

In other news, Director Heynitz Harald Von sold 10,000 shares of the company’s stock in a transaction that occurred on Wednesday, March 18th. The stock was sold at an average price of $16.50, for a total transaction of $165,000.00. Following the completion of the transaction, the director directly owned 63,550 shares of the company’s stock, valued at approximately $1,048,575. This represents a 13.60% decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through the SEC website. Company insiders own 0.69% of the company’s stock.

Hedge Funds Weigh In On Fluence Energy

Several institutional investors have recently made changes to their positions in the stock. Dragoneer Investment Group LLC bought a new position in shares of Fluence Energy during the third quarter valued at approximately $65,883,000. Goldman Sachs Group Inc. grew its holdings in shares of Fluence Energy by 189.7% during the first quarter. Goldman Sachs Group Inc. now owns 3,171,146 shares of the company’s stock valued at $15,380,000 after purchasing an additional 2,076,668 shares during the last quarter. Price T Rowe Associates Inc. MD grew its holdings in shares of Fluence Energy by 5,489.8% during the fourth quarter. Price T Rowe Associates Inc. MD now owns 3,045,780 shares of the company’s stock valued at $60,247,000 after purchasing an additional 2,991,292 shares during the last quarter. UBS Group AG grew its holdings in shares of Fluence Energy by 65.2% during the fourth quarter. UBS Group AG now owns 2,625,878 shares of the company’s stock valued at $51,940,000 after purchasing an additional 1,036,423 shares during the last quarter. Finally, Millennium Management LLC grew its holdings in shares of Fluence Energy by 11.3% during the third quarter. Millennium Management LLC now owns 2,232,750 shares of the company’s stock valued at $24,114,000 after purchasing an additional 227,080 shares during the last quarter. 53.16% of the stock is 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.