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

Fluence Energy, Inc. (NASDAQ:FLNC)’s stock price hit a new 52-week low during mid-day trading on Tuesday . The company traded as low as $12.01 and last traded at $12.62, with a volume of 328969 shares. The stock had previously closed at $12.48.

Analyst Ratings Changes

Several analysts recently issued reports on the company. Bank of America lowered their price target on Fluence Energy from $25.00 to $20.00 and set a “buy” rating for the company in a report on Tuesday, January 28th. Canaccord Genuity Group dropped their price objective on shares of Fluence Energy from $37.00 to $34.00 and set a “buy” rating on the stock in a research note on Friday, November 29th. BMO Capital Markets lifted their price target on shares of Fluence Energy from $24.00 to $25.00 and gave the stock an “outperform” rating in a research note on Monday, October 14th. Baird R W cut shares of Fluence Energy from a “strong-buy” rating to a “hold” rating in a research report on Wednesday, December 18th. Finally, Royal Bank of Canada dropped their price objective on Fluence Energy from $28.00 to $27.00 and set an “outperform” rating on the stock in a report on Wednesday, November 27th. Eight equities research analysts have rated the stock with a hold rating and thirteen have assigned a buy rating to the company’s stock. According to data from MarketBeat.com, the stock presently has an average rating of “Moderate Buy” and an average target price of $25.60.

Fluence Energy Stock Up 0.3 %

The firm has a market capitalization of $2.27 billion, a price-to-earnings ratio of 96.37, a P/E/G ratio of 0.51 and a beta of 2.37. The stock’s 50 day moving average price is $16.08 and its two-hundred day moving average price is $18.34.

Fluence Energy (NASDAQ:FLNC) last issued its quarterly earnings results on Monday, November 25th. The company reported $0.34 earnings per share (EPS) for the quarter, beating the consensus estimate of $0.23 by $0.11. The firm had revenue of $1.23 billion for the quarter, compared to analyst estimates of $1.28 billion. Fluence Energy had a return on equity of 4.10% and a net margin of 0.89%. The company’s quarterly revenue was up 82.5% compared to the same quarter last year. During the same period in the previous year, the company posted $0.02 earnings per share. On average, equities analysts expect that Fluence Energy, Inc. will post 0.48 EPS for the current fiscal year.

Insider Buying and Selling

In other news, Director Herman E. Bulls acquired 10,000 shares of Fluence Energy stock in a transaction on Monday, December 23rd. The shares were purchased at an average price of $15.57 per share, with a total value of $155,700.00. Following the acquisition, the director now owns 75,861 shares in the company, valued at $1,181,155.77. This represents a 15.18 % increase in their ownership of the stock. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available at this link. 0.65% of the stock is owned by corporate insiders.

Institutional Inflows and Outflows

A number of large investors have recently added to or reduced their stakes in the business. Sanders Morris Harris LLC acquired a new position in Fluence Energy in the fourth quarter valued at approximately $812,000. SG Americas Securities LLC boosted its holdings in Fluence Energy by 79.2% during the fourth quarter. SG Americas Securities LLC now owns 48,883 shares of the company’s stock worth $776,000 after buying an additional 21,597 shares during the last quarter. FMR LLC increased its holdings in shares of Fluence Energy by 9.0% in the third quarter. FMR LLC now owns 1,606,100 shares of the company’s stock worth $36,475,000 after acquiring an additional 132,868 shares in the last quarter. Principal Financial Group Inc. acquired a new stake in shares of Fluence Energy during the third quarter worth about $5,742,000. Finally, Erste Asset Management GmbH bought a new position in shares of Fluence Energy in the 3rd quarter valued at about $22,059,000. 53.16% of the stock is currently owned by institutional investors and hedge funds.

About Fluence Energy

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.