Fluence Energy (NASDAQ:FLNC) Reaches New 12-Month Low – Here’s Why

Fluence Energy, Inc. (NASDAQ:FLNC) reached a new 52-week low during trading on Tuesday. The company traded as low as $6.92 and last traded at $6.83, with a volume of 142,375 shares traded. The stock had previously closed at $7.07.

Analyst Upgrades and Downgrades

Several equities analysts have recently commented on the company. Morgan Stanley set a $15.00 target price on Fluence Energy in a research note on Friday, August 7th. Barclays lowered shares of Fluence Energy from an “equal weight” rating to an “underweight” rating and decreased their price objective for the stock from $16.00 to $10.00 in a report on Thursday, September 3rd. Truist Financial restated a “hold” rating and issued a $10.00 target price (down from $16.00) on shares of Fluence Energy in a research note on Thursday, September 17th. Robert W. Baird reaffirmed an “underperform” rating and issued a $3.00 price target (down from $10.00) on shares of Fluence Energy in a report on Thursday, September 17th. Finally, UBS Group raised shares of Fluence Energy from a “sell” rating to a “neutral” rating and raised their target price for the stock from $9.00 to $12.00 in a report on Tuesday, August 25th. Four investment analysts have rated the stock with a Buy rating, fourteen have assigned a Hold rating and seven have given a Sell rating to the stock. Based on data from MarketBeat.com, the stock presently has an average rating of “Reduce” and an average target price of $12.42.

Fluence Energy Stock Down 4.3%

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 stock has a market capitalization of $1.25 billion, a P/E ratio of -11.09 and a beta of 2.77. The stock’s fifty day moving average is $10.07 and its two-hundred day moving average is $14.97.

Fluence Energy (NASDAQ:FLNC) last posted its quarterly earnings data on Wednesday, August 5th. The company reported ($0.24) EPS for the quarter. The firm 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 company’s revenue for the quarter was up 7.9% on a year-over-year basis. During the same period in the prior year, the business posted $0.01 EPS. As a group, research analysts predict that Fluence Energy, Inc. will post -1.12 earnings per share for the current fiscal year.

Insider Activity at Fluence Energy

In other Fluence Energy news, Director Herman Bulls acquired 10,000 shares of the firm’s stock in a transaction that occurred on 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 completion of the acquisition, 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 position. The transaction was disclosed in a document filed with the SEC, which can be accessed through the SEC website. Also, Director Harald von Heynitz purchased 7,000 shares of the firm’s stock in a transaction dated Monday, September 21st. The shares were bought at an average price of $7.36 per share, with a total value of $51,520.00. Following the purchase, the director owned 65,550 shares in the company, valued at $482,448. This represents a 11.96% increase in their position. Additional details regarding this purchase are available in the official SEC disclosure. Insiders own 0.69% of the company’s stock.

Institutional Inflows and Outflows

Several institutional investors have recently added to or reduced their stakes in FLNC. Green Alpha Advisors LLC increased its position in Fluence Energy by 78.5% during the third quarter. Green Alpha Advisors LLC now owns 49,696 shares of the company’s stock worth $382,000 after acquiring an additional 21,857 shares during the period. Tidal Investments LLC raised its position in shares of Fluence Energy by 126.7% during the second quarter. Tidal Investments LLC now owns 207,694 shares of the company’s stock valued at $4,129,000 after buying an additional 116,064 shares during the last quarter. Integrated Wealth Concepts LLC acquired a new position in shares of Fluence Energy during the second quarter valued at about $94,000. Maven Securities LTD bought a new stake in shares of Fluence Energy in the second quarter valued at about $398,000. Finally, IFP Advisors Inc lifted its stake in shares of 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. 53.16% of the stock is owned by institutional investors.

About Fluence Energy

Fluence Energy, Inc is a global energy technology company that develops and deploys energy storage products, services and digital applications. Its solutions are designed to help utilities, renewable energy developers, commercial and industrial customers, and other power market participants manage electricity supply, improve grid flexibility and integrate renewable generation.

The company’s offerings include modular battery-based energy storage systems, energy management software and asset optimization services.