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

Fluence Energy, Inc. (NASDAQ:FLNC)’s stock price gapped down before the market opened on Thursday after Glj Research downgraded the stock from a buy rating to a hold rating. The stock had previously closed at $12.07, but opened at $11.57. Glj Research now has a $12.89 price target on the stock, down from their previous price target of $26.00. Fluence Energy shares last traded at $11.4080, with a volume of 1,110,468 shares changing hands.

A number of other brokerages have also recently issued reports on FLNC. Susquehanna lifted their target price on Fluence Energy from $23.00 to $25.00 and gave the stock a “positive” rating in a report on Friday, May 8th. Morgan Stanley set a $15.00 target price on Fluence Energy in a report on Friday, August 7th. JPMorgan Chase & Co. lifted their price target on Fluence Energy from $13.00 to $17.00 and gave the stock a “neutral” rating in a research note on Friday, May 8th. HSBC upgraded Fluence Energy from a “reduce” rating to a “hold” rating and set a $19.00 price objective on the stock in a report on Friday, May 8th. Finally, BMO Capital Markets reaffirmed a “market perform” rating and set a $15.00 price objective on shares of Fluence Energy in a research note on Wednesday, April 29th. Six research analysts have rated the stock with a Buy rating, thirteen have issued a Hold rating and four have assigned a Sell rating to the company’s stock. According to data from MarketBeat, the stock currently has an average rating of “Hold” and a consensus target price of $17.89.

Insider Buying and Selling

In other news, SVP John Zahurancik sold 16,000 shares of the stock in a transaction on Monday, June 22nd. The shares were sold at an average price of $25.18, for a total transaction of $402,880.00. Following the transaction, the senior vice president owned 87,145 shares in the company, valued at $2,194,311.10. This represents a 15.51% decrease in their position. The sale was disclosed in a document filed with the SEC, which can be accessed through this hyperlink. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Also, Director Heynitz Harald Von sold 5,000 shares of the stock in a transaction 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 transaction, the director directly owned 58,550 shares in the company, valued at $1,463,750. The trade was a 7.87% decrease in their ownership of the stock. 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 in the last 90 days. 0.69% of the stock is currently owned by corporate insiders.

Hedge Funds Weigh In On Fluence Energy

Several large investors have recently bought and sold shares of the stock. EverSource Wealth Advisors LLC increased its holdings in shares of Fluence Energy by 31.8% during the 1st quarter. EverSource Wealth Advisors LLC now owns 2,782 shares of the company’s stock worth $38,000 after purchasing an additional 672 shares during the period. Sei Investments Co. grew its position in Fluence Energy by 4.5% during the first quarter. Sei Investments Co. now owns 16,222 shares of the company’s stock worth $223,000 after buying an additional 703 shares in the last quarter. SBI Securities Co. Ltd. grew its position in Fluence Energy by 10.7% during the fourth quarter. SBI Securities Co. Ltd. now owns 9,638 shares of the company’s stock worth $191,000 after buying an additional 935 shares in the last quarter. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. increased its stake in Fluence Energy by 1.1% during the third 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 stake in Fluence Energy by 5.8% during the fourth 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. 53.16% of the stock is currently owned by institutional investors and hedge funds.

Fluence Energy Stock Performance

The firm has a fifty day simple moving average of $16.65 and a 200 day simple moving average of $17.40. The company has a current ratio of 1.34, a quick ratio of 0.89 and a debt-to-equity ratio of 0.91. The stock has a market cap of $2.11 billion, a price-to-earnings ratio of -18.74 and a beta of 2.78.

Fluence Energy (NASDAQ:FLNC) last posted its earnings results on Wednesday, August 5th. The company reported ($0.24) earnings per share for the quarter. Fluence Energy had a negative net margin of 3.13% and a negative return on equity of 16.79%. The business had revenue of $649.85 million during the quarter, compared to the consensus estimate of $818.57 million. During the same period in the previous year, the firm earned $0.01 EPS. The business’s revenue was up 7.9% compared to the same quarter last year. As a group, sell-side analysts expect that Fluence Energy, Inc. will post -0.51 earnings per share for the current year.

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.