Fluence Energy (NASDAQ:FLNC) Trading Down 7% – Here’s Why

Fluence Energy, Inc. (NASDAQ:FLNC)’s stock price dropped 7% on Tuesday . The stock traded as low as $18.52 and last traded at $20.0150. Approximately 2,374,898 shares traded hands during trading, a decline of 60% from the average daily volume of 5,900,869 shares. The stock had previously closed at $21.52.

Analysts Set New Price Targets

Several equities analysts have commented on FLNC shares. Bank of America lifted their target price on shares of Fluence Energy from $17.00 to $25.00 and gave the stock a “neutral” rating in a research report on Tuesday, December 9th. The Goldman Sachs Group boosted their price objective on Fluence Energy from $15.00 to $20.00 and gave the stock a “buy” rating in a research report on Wednesday, November 26th. BNP Paribas set a $9.00 target price on Fluence Energy and gave the company an “underperform” rating in a research report on Tuesday, October 21st. Citigroup lifted their price objective on Fluence Energy from $7.50 to $20.00 and gave the stock a “neutral” rating in a report on Wednesday, December 3rd. Finally, Jefferies Financial Group upgraded Fluence Energy from an “underperform” rating to a “hold” rating and boosted their price objective for the company from $11.00 to $16.00 in a research note on Wednesday, November 26th. Four analysts have rated the stock with a Buy rating, seventeen have issued a Hold rating and six have given a Sell rating to the stock. According to MarketBeat, the company currently has an average rating of “Reduce” and an average price target of $13.28.

Fluence Energy Stock Performance

The company has a market cap of $3.70 billion, a P/E ratio of -47.96 and a beta of 2.88. The company’s fifty day moving average is $19.01 and its 200 day moving average is $11.79. The company has a current ratio of 1.51, a quick ratio of 1.17 and a debt-to-equity ratio of 0.71.

Fluence Energy (NASDAQ:FLNC) last posted its quarterly earnings results on Monday, November 24th. The company reported $0.13 earnings per share (EPS) for the quarter, missing the consensus estimate of $0.23 by ($0.10). Fluence Energy had a negative net margin of 2.14% and a negative return on equity of 9.21%. The business had revenue of $1.04 billion for the quarter, compared to analysts’ expectations of $1.39 billion. During the same quarter in the previous year, the company earned $0.34 earnings per share. The business’s quarterly revenue was down 15.2% on a year-over-year basis. As a group, equities analysts predict that Fluence Energy, Inc. will post 0.08 earnings per share for the current fiscal year.

Institutional Inflows and Outflows

Hedge funds and other institutional investors have recently bought and sold shares of the business. Dragoneer Investment Group LLC purchased a new position in shares of Fluence Energy during the 3rd quarter worth approximately $65,883,000. Goldman Sachs Group Inc. boosted its position 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 in the last quarter. SG Americas Securities LLC raised its holdings in Fluence Energy by 1,794.8% in the second quarter. SG Americas Securities LLC now owns 1,868,711 shares of the company’s stock worth $12,539,000 after purchasing an additional 1,770,090 shares in the last quarter. Jacobs Levy Equity Management Inc. purchased a new position in Fluence Energy during the third quarter valued at $14,207,000. Finally, Connor Clark & Lunn Investment Management Ltd. bought a new stake in shares of Fluence Energy during the 3rd quarter valued at $12,901,000. Institutional investors own 53.16% of the company’s stock.

Fluence Energy Company Profile

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.