Fluence Energy (NASDAQ:FLNC) Trading Down 7% – Should You Sell?

Shares of Fluence Energy, Inc. (NASDAQ:FLNC) traded down 7% during mid-day trading on Tuesday . The stock traded as low as $18.52 and last traded at $20.0150. 2,374,898 shares traded hands during mid-day trading, a decline of 60% from the average session volume of 5,900,869 shares. The stock had previously closed at $21.52.

Wall Street Analyst Weigh In

Several equities research analysts recently issued reports on the stock. The Goldman Sachs Group raised their target price on shares of Fluence Energy from $15.00 to $20.00 and gave the stock a “buy” rating in a report on Wednesday, November 26th. BNP Paribas set a $9.00 price target on shares of Fluence Energy and gave the company an “underperform” rating in a report on Tuesday, October 21st. Mizuho restated an “underperform” rating and set a $15.00 price objective (up from $9.00) on shares of Fluence Energy in a research report on Monday, December 8th. Citigroup increased their price target on Fluence Energy from $7.50 to $20.00 and gave the stock a “neutral” rating in a research note on Wednesday, December 3rd. Finally, Wall Street Zen upgraded Fluence Energy from a “sell” rating to a “hold” rating in a research report on Sunday, November 2nd. Four investment analysts have rated the stock with a Buy rating, seventeen have issued a Hold rating and six have assigned a Sell rating to the stock. According to data from MarketBeat, the stock presently has an average rating of “Reduce” and an average price target of $13.28.

Fluence Energy Stock Performance

The stock has a market capitalization of $3.70 billion, a P/E ratio of -47.96 and a beta of 2.88. The company has a debt-to-equity ratio of 0.71, a quick ratio of 1.17 and a current ratio of 1.51. The business’s fifty day moving average price is $19.01 and its two-hundred day moving average price is $11.79.

Fluence Energy (NASDAQ:FLNC) last posted its quarterly earnings data on Monday, November 24th. The company reported $0.13 earnings per share (EPS) for the quarter, missing the consensus estimate of $0.23 by ($0.10). Fluence Energy had a negative net margin of 2.14% and a negative return on equity of 9.21%. The company had revenue of $1.04 billion during the quarter, compared to the consensus estimate of $1.39 billion. During the same period in the previous year, the business earned $0.34 earnings per share. Fluence Energy’s revenue for the quarter was down 15.2% on a year-over-year basis. As a group, sell-side analysts forecast that Fluence Energy, Inc. will post 0.08 earnings per share for the current year.

Institutional Investors Weigh In On Fluence Energy

Institutional investors and hedge funds have recently added to or reduced their stakes in the stock. Advisory Services Network LLC bought a new stake in Fluence Energy during the 3rd quarter valued at $48,000. Parallel Advisors LLC purchased a new position in Fluence Energy in the second quarter worth $30,000. Quantbot Technologies LP purchased a new stake in shares of Fluence Energy during the 3rd quarter valued at $51,000. Quarry LP boosted its position in shares of Fluence Energy by 4,371.4% in the 3rd quarter. Quarry LP now owns 5,947 shares of the company’s stock worth $64,000 after purchasing an additional 5,814 shares in the last quarter. Finally, Ameritas Investment Partners Inc. grew its stake in Fluence Energy by 25.7% during the 2nd quarter. Ameritas Investment Partners Inc. now owns 7,753 shares of the company’s stock worth $52,000 after buying an additional 1,586 shares during the last quarter. 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.