Fluence Energy (NASDAQ:FLNC) Reaches New 1-Year Low – What’s Next?

Shares of Fluence Energy, Inc. (NASDAQ:FLNC) hit a new 52-week low during mid-day trading on Thursday . The company traded as low as $6.03 and last traded at $6.17, with a volume of 906856 shares traded. The stock had previously closed at $6.15.

Wall Street Analysts Forecast Growth

A number of research analysts have issued reports on the company. Baird R W lowered Fluence Energy from a “strong-buy” rating to a “hold” rating in a research report on Wednesday, December 18th. Canaccord Genuity Group reduced their price target on Fluence Energy from $34.00 to $14.00 and set a “buy” rating for the company in a research report on Wednesday, February 12th. Truist Financial reduced their price target on Fluence Energy from $28.00 to $13.00 and set a “buy” rating for the company in a research report on Wednesday, February 12th. Jefferies Financial Group lowered Fluence Energy from a “buy” rating to a “hold” rating and cut their price objective for the company from $22.00 to $15.00 in a report on Wednesday, January 22nd. Finally, Guggenheim lowered Fluence Energy from a “buy” rating to a “sell” rating and cut their price objective for the company from $26.00 to $6.00 in a report on Tuesday, February 11th. One equities research analyst has rated the stock with a sell rating, fifteen have assigned a hold rating and eight have given a buy rating to the company. According to data from MarketBeat.com, Fluence Energy has an average rating of “Hold” and a consensus target price of $14.64.

Fluence Energy Stock Down 2.7 %

The business has a 50-day moving average price of $12.59 and a 200-day moving average price of $17.31. The company has a market capitalization of $1.04 billion, a price-to-earnings ratio of -114.40 and a beta of 2.37. The company has a quick ratio of 1.14, a current ratio of 1.57 and a debt-to-equity ratio of 0.74.

Fluence Energy (NASDAQ:FLNC) last announced its earnings results on Monday, February 10th. The company reported ($0.32) earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of ($0.17) by ($0.15). Fluence Energy had a negative return on equity of 0.36% and a negative net margin of 0.08%. As a group, equities analysts anticipate that Fluence Energy, Inc. will post 0.08 earnings per share for the current fiscal year.

Insider Activity at Fluence Energy

In other news, CEO Julian Nebreda bought 23,500 shares of the stock in a transaction on Thursday, February 13th. The shares were purchased at an average price of $6.35 per share, for a total transaction of $149,225.00. Following the completion of the purchase, the chief executive officer now directly owns 120,455 shares of the company’s stock, valued at $764,889.25. This trade represents a 24.24 % increase in their position. The purchase was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this link. Also, CFO Ahmed Pasha purchased 15,500 shares of the firm’s stock in a transaction dated Friday, February 14th. The shares were bought at an average price of $6.48 per share, with a total value of $100,440.00. Following the purchase, the chief financial officer now owns 24,703 shares in the company, valued at $160,075.44. This represents a 168.42 % increase in their position. The disclosure for this purchase can be found here. Over the last ninety days, insiders have acquired 79,000 shares of company stock valued at $601,265. Company insiders own 0.65% of the company’s stock.

Institutional Trading of Fluence Energy

Several large investors have recently made changes to their positions in FLNC. Zimmer Partners LP boosted its stake in shares of Fluence Energy by 757.7% during the 4th quarter. Zimmer Partners LP now owns 2,144,301 shares of the company’s stock worth $34,052,000 after acquiring an additional 1,894,301 shares in the last quarter. Erste Asset Management GmbH bought a new stake in Fluence Energy during the 3rd quarter valued at approximately $22,059,000. Point72 Asset Management L.P. bought a new stake in Fluence Energy during the 3rd quarter valued at approximately $21,809,000. Webs Creek Capital Management LP bought a new stake in Fluence Energy during the 4th quarter valued at approximately $15,118,000. Finally, Covalis Capital LLP bought a new stake in Fluence Energy during the 4th quarter valued at approximately $12,113,000. 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.