Fluence Energy (NASDAQ:FLNC) Hits New 52-Week Low – Here’s Why

Fluence Energy, Inc. (NASDAQ:FLNC)’s share price hit a new 52-week low during trading on Monday. The stock traded as low as $5.27 and last traded at $5.6430, with a volume of 4,325,865 shares changing hands. The stock had previously closed at $5.72.

Analyst Upgrades and Downgrades

FLNC has been the subject of a number of research analyst reports. Barclays cut shares of Fluence Energy from an “equal weight” rating to an “underweight” rating and decreased their price target for the stock from $16.00 to $10.00 in a report on Thursday, September 3rd. Glj Research downgraded Fluence Energy from a “buy” rating to a “hold” rating and dropped their price target for the company from $26.00 to $12.89 in a research note on Thursday, August 20th. Needham & Company LLC reissued a “hold” rating on shares of Fluence Energy in a report on Thursday, September 17th. Royal Bank Of Canada reduced their price objective on Fluence Energy from $15.00 to $4.00 and set a “sector perform” rating for the company in a research note on Thursday, September 17th. Finally, Jefferies Financial Group downgraded Fluence Energy from a “buy” rating to a “hold” rating and decreased their target price for the stock from $19.00 to $7.00 in a report on Friday, September 18th. Four research 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. Based on data from MarketBeat.com, Fluence Energy has an average rating of “Reduce” and a consensus price target of $10.76.

Fluence Energy Stock Down 6.2%

The company has a debt-to-equity ratio of 0.91, a current ratio of 1.34 and a quick ratio of 0.89. The company has a market cap of $990.38 million, a PE ratio of -8.81 and a beta of 2.81. The business’s fifty day simple moving average is $8.15 and its two-hundred day simple moving average is $15.59.

Fluence Energy (NASDAQ:FLNC) last released its quarterly earnings results on Wednesday, August 5th. The company reported ($0.24) earnings per share for the quarter. The business had revenue of $649.85 million during the quarter, compared to analyst estimates of $818.57 million. Fluence Energy had a negative return on equity of 16.79% and a negative net margin of 3.13%. The business’s revenue for the quarter was up 7.9% compared to the same quarter last year. During the same period in the previous year, the company posted $0.01 EPS. On average, analysts predict that Fluence Energy, Inc. will post -1.31 earnings per share for the current year.

Insider Buying and Selling at Fluence Energy

In related news, Director Herman Bulls acquired 10,000 shares of Fluence Energy stock in a transaction on Monday, September 21st. The stock was bought at an average cost of $7.36 per share, for a total transaction of $73,600.00. Following the completion of the transaction, the director owned 169,550 shares of the company’s stock, valued at approximately $1,247,888. The trade was a 6.27% increase in their position. The acquisition was disclosed in a legal filing with the SEC, which is available through this link. Also, Director Harald von Heynitz acquired 7,000 shares of the firm’s stock in a transaction on Monday, September 21st. The shares were bought 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 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 SEC filing for this purchase provides additional information. 0.69% of the stock is currently owned by insiders.

Hedge Funds Weigh In On Fluence Energy

Hedge funds and other institutional investors have recently made changes to their positions in the company. IFP Advisors Inc increased its position in shares of Fluence Energy by 184.1% during the second quarter. IFP Advisors Inc now owns 1,540 shares of the company’s stock worth $31,000 after purchasing an additional 998 shares in the last quarter. EverSource Wealth Advisors LLC boosted its stake in 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 last quarter. Allworth Financial LP grew its holdings in shares of Fluence Energy by 415.3% during the second quarter. Allworth Financial LP now owns 3,056 shares of the company’s stock worth $61,000 after buying an additional 2,463 shares in the last quarter. Integrated Wealth Concepts LLC acquired a new stake in shares of Fluence Energy in the second quarter valued at about $94,000. Finally, State of Alaska Department of Revenue purchased a new position in shares of Fluence Energy in the third quarter worth about $62,000. Hedge funds and other 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.