Fluence Energy (NASDAQ:FLNC) Hits New 12-Month Low – Here’s What Happened

Fluence Energy, Inc. (NASDAQ:FLNC)’s share price reached a new 52-week low on Tuesday. The stock traded as low as $4.91 and last traded at $4.9250, with a volume of 2,281,171 shares trading hands. The stock had previously closed at $5.40.

Wall Street Analysts Forecast Growth

FLNC has been the subject of a number of research reports. Zacks Research lowered Fluence Energy from a “hold” rating to a “strong sell” rating in a report on Thursday, September 10th. Piper Sandler dropped their price objective on Fluence Energy from $6.00 to $5.00 and set an “underweight” rating on the stock in a research note on Thursday, September 17th. JPMorgan Chase & Co. reduced their price objective on Fluence Energy from $17.00 to $8.00 and set a “neutral” rating on the stock in a report on Thursday, September 17th. Jefferies Financial Group lowered Fluence Energy from a “buy” rating to a “hold” rating and decreased their target price for the company from $19.00 to $7.00 in a research report on Friday, September 18th. Finally, Glj Research cut Fluence Energy from a “buy” rating to a “hold” rating and lowered their target price for the stock from $26.00 to $12.89 in a report on Thursday, August 20th. Four analysts have rated the stock with a Buy rating, fourteen have issued a Hold rating and seven have given a Sell rating to the company’s stock. According to data from MarketBeat, Fluence Energy has an average rating of “Reduce” and an average target price of $10.66.

Fluence Energy Stock Up 3.5%

The business has a 50 day moving average of $7.24 and a two-hundred day moving average of $14.78. The stock has a market capitalization of $937.75 million, a PE ratio of -8.33 and a beta of 2.81. The company has a debt-to-equity ratio of 0.91, a quick ratio of 0.89 and a current ratio of 1.34.

Insider Transactions at Fluence Energy

In other news, Director Harald von Heynitz purchased 7,000 shares of the stock in a transaction dated Monday, September 21st. The shares were acquired at an average cost of $7.36 per share, for a total transaction of $51,520.00. Following the acquisition, the director owned 65,550 shares of the company’s stock, valued at approximately $482,448. This represents a 11.96% increase in their ownership of the stock. The acquisition was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. Also, Director Herman Bulls acquired 10,000 shares of the business’s stock in a transaction dated Monday, September 21st. The stock was purchased at an average cost of $7.36 per share, for a total transaction of $73,600.00. Following the transaction, the director owned 169,550 shares in the company, valued at approximately $1,247,888. The trade was a 6.27% increase in their ownership of the stock. The SEC filing for this purchase provides additional information. 0.69% of the stock is currently owned by company insiders.

Institutional Trading of Fluence Energy

Several hedge funds and other institutional investors have recently made changes to their positions in FLNC. Tidal Investments LLC grew its stake in Fluence Energy by 126.7% during the 2nd quarter. Tidal Investments LLC now owns 207,694 shares of the company’s stock worth $4,129,000 after buying an additional 116,064 shares during the last quarter. Bank of America Corp DE raised its stake in Fluence Energy by 24.4% in the first quarter. Bank of America Corp DE now owns 3,085,730 shares of the company’s stock valued at $42,460,000 after buying an additional 604,983 shares during the last quarter. Renaissance Technologies LLC purchased a new stake in Fluence Energy in the first quarter valued at about $19,579,000. Edgestream Partners L.P. raised its stake in Fluence Energy by 1,086.3% in the first quarter. Edgestream Partners L.P. now owns 385,804 shares of the company’s stock valued at $5,309,000 after buying an additional 353,282 shares during the last quarter. Finally, First Trust Advisors LP boosted its holdings in Fluence Energy by 55.4% in the first quarter. First Trust Advisors LP now owns 1,131,468 shares of the company’s stock worth $15,569,000 after acquiring an additional 403,199 shares in the last quarter. Hedge funds and other institutional investors own 53.16% of the company’s stock.

Fluence Energy Company Profile

Fluence Energy, Inc. develops and provides energy storage products, software and services for electric power systems. Its offerings help customers store electricity and manage energy resources across the grid. The company supplies battery-based storage systems for applications including utility-scale storage and renewable energy integration. It also provides digital tools for energy market bidding and asset performance management, along with services that support project deployment and ongoing operations.