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

Fluence Energy, Inc. (NASDAQ:FLNC)’s stock price reached a new 52-week low during mid-day trading on Monday. The stock traded as low as $5.40 and last traded at $5.3850, with a volume of 689,566 shares. The stock had previously closed at $5.59.

Wall Street Analyst Weigh In

Several equities analysts have weighed in on FLNC shares. Barclays downgraded Fluence Energy from an “equal weight” rating to an “underweight” rating and dropped their price target for the stock from $16.00 to $10.00 in a research report on Thursday, September 3rd. Needham & Company LLC reaffirmed a “hold” rating on shares of Fluence Energy in a report on Thursday, September 17th. Jefferies Financial Group cut Fluence Energy from a “buy” rating to a “hold” rating and dropped their price target for the stock from $19.00 to $7.00 in a research report on Friday, September 18th. Glj Research cut Fluence Energy from a “buy” rating to a “hold” rating and dropped their target price for the stock from $26.00 to $12.89 in a report on Thursday, August 20th. Finally, BNP Paribas Exane reduced their target price on Fluence Energy from $8.00 to $5.00 and set an “underperform” rating for the company in a report on Thursday, September 17th. Four investment analysts have rated the stock with a Buy rating, fourteen have given a Hold rating and seven have assigned a Sell rating to the stock. According to data from MarketBeat, Fluence Energy has an average rating of “Reduce” and an average target price of $10.76.

Fluence Energy Price Performance

The stock has a 50 day moving average of $8.72 and a two-hundred day moving average of $14.47. 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 firm has a market capitalization of $1.03 billion, a P/E ratio of -9.16 and a beta of 2.77.

Fluence Energy (NASDAQ:FLNC) last posted its quarterly earnings data on Wednesday, August 5th. The company reported ($0.24) earnings per share (EPS) for the quarter. The firm had revenue of $649.85 million for the quarter, compared to the consensus estimate of $818.57 million. Fluence Energy had a negative return on equity of 16.79% and a negative net margin of 3.13%. Fluence Energy’s quarterly revenue was up 7.9% on a year-over-year basis. During the same period in the prior year, the company posted $0.01 earnings per share. Sell-side analysts predict that Fluence Energy, Inc. will post -1.31 earnings per share for the current fiscal year.

Insider Buying and Selling

In other news, Director Herman Bulls bought 10,000 shares of Fluence Energy stock in a transaction dated Monday, September 21st. The shares were bought at an average price of $7.36 per share, for a total transaction of $73,600.00. Following the purchase, the director owned 169,550 shares of the company’s stock, valued at approximately $1,247,888. This trade represents a 6.27% increase in their ownership of the stock. The purchase was disclosed in a filing with the Securities & Exchange Commission, which is available through this link. Also, Director Harald von Heynitz bought 7,000 shares of Fluence Energy stock in a transaction dated Monday, September 21st. The stock was acquired at an average cost of $7.36 per share, for a total transaction of $51,520.00. Following the completion of the acquisition, the director directly owned 65,550 shares in the company, valued at $482,448. This represents a 11.96% increase in their ownership of the stock. Additional details regarding this purchase are available in the official SEC disclosure. Corporate insiders own 0.69% of the company’s stock.

Institutional Inflows and Outflows

Several hedge funds have recently modified their holdings of the business. IFP Advisors Inc lifted its holdings in Fluence Energy by 184.1% in the second quarter. IFP Advisors Inc now owns 1,540 shares of the company’s stock valued at $31,000 after buying an additional 998 shares during the period. EverSource Wealth Advisors LLC boosted its stake in Fluence Energy by 31.8% in the first quarter. EverSource Wealth Advisors LLC now owns 2,782 shares of the company’s stock valued at $38,000 after acquiring an additional 672 shares during the last quarter. Allworth Financial LP grew its holdings in Fluence Energy by 415.3% during the 2nd quarter. Allworth Financial LP now owns 3,056 shares of the company’s stock worth $61,000 after acquiring an additional 2,463 shares during the period. Integrated Wealth Concepts LLC bought a new stake in shares of Fluence Energy during the 2nd quarter valued at $94,000. Finally, State of Alaska Department of Revenue acquired a new position in shares of Fluence Energy in the 3rd quarter valued at $62,000. Institutional investors own 53.16% of the company’s stock.

About Fluence Energy

Fluence Energy, Inc (NASDAQ: FLNC) is a global energy technology company that develops and deploys energy storage systems and software for electric utilities, renewable energy developers, and commercial and industrial customers. Its solutions are designed to help integrate renewable power, improve grid reliability, manage electricity supply and demand, and support the transition to a more flexible, low-carbon energy system.

The company’s offerings include utility-scale battery energy storage products, renewable-plus-storage solutions, and systems for commercial and industrial applications.