Fluence Energy (NASDAQ:FLNC) Reaches New 1-Year Low – What’s Next?

Fluence Energy, Inc. (NASDAQ:FLNC)’s stock price reached a new 52-week low during mid-day trading on Thursday . The stock traded as low as $6.03 and last traded at $6.17, with a volume of 906856 shares. The stock had previously closed at $6.15.

Wall Street Analysts Forecast Growth

Several research analysts have issued reports on the company. Jefferies Financial Group cut Fluence Energy from a “buy” rating to a “hold” rating and cut their price objective for the stock from $22.00 to $15.00 in a research report on Wednesday, January 22nd. Royal Bank of Canada cut Fluence Energy from an “outperform” rating to a “sector perform” rating and cut their price objective for the stock from $25.00 to $7.00 in a research report on Wednesday, February 12th. Wolfe Research cut Fluence Energy from an “outperform” rating to a “peer perform” rating in a research report on Wednesday, February 12th. Guggenheim cut Fluence Energy from a “buy” rating to a “sell” rating and cut their price objective for the stock from $26.00 to $6.00 in a research report on Tuesday, February 11th. Finally, Truist Financial cut their price objective on Fluence Energy from $28.00 to $13.00 and set a “buy” rating for the company in a research report on Wednesday, February 12th. One research analyst has rated the stock with a sell rating, fifteen have assigned a hold rating and eight have issued a buy rating to the company’s stock. Based on data from MarketBeat.com, Fluence Energy currently has a consensus rating of “Hold” and a consensus price target of $14.64.

Fluence Energy Stock Down 2.7 %

The company has a debt-to-equity ratio of 0.74, a quick ratio of 1.14 and a current ratio of 1.57. The firm has a fifty day simple moving average of $12.59 and a 200-day simple moving average of $17.31. The company has a market capitalization of $1.04 billion, a PE ratio of -114.40 and a beta of 2.37.

Fluence Energy (NASDAQ:FLNC) last posted its quarterly earnings data on Monday, February 10th. The company reported ($0.32) earnings per share (EPS) for the quarter, missing the consensus estimate of ($0.17) by ($0.15). Fluence Energy had a negative return on equity of 0.36% and a negative net margin of 0.08%. Equities research analysts anticipate that Fluence Energy, Inc. will post 0.08 EPS for the current fiscal year.

Insider Activity

In other news, CFO Ahmed Pasha purchased 15,500 shares of the stock in a transaction dated Friday, February 14th. The stock was acquired at an average cost of $6.48 per share, for a total transaction of $100,440.00. Following the acquisition, the chief financial officer now owns 24,703 shares of the company’s stock, valued at $160,075.44. The trade was a 168.42 % increase in their ownership of the stock. The acquisition was disclosed in a filing with the SEC, which is accessible through this link. Also, Director Herman E. Bulls purchased 30,000 shares of the stock in a transaction dated Thursday, February 13th. The stock was purchased at an average price of $6.53 per share, with a total value of $195,900.00. Following the completion of the acquisition, the director now directly owns 105,861 shares in the company, valued at approximately $691,272.33. The trade was a 39.55 % increase in their position. The disclosure for this purchase can be found here. In the last ninety days, insiders bought 79,000 shares of company stock worth $601,265. 0.65% of the stock is currently owned by insiders.

Institutional Investors Weigh In On Fluence Energy

A number of institutional investors have recently made changes to their positions in the company. Duff & Phelps Investment Management Co. increased its holdings in shares of Fluence Energy by 5.6% in the 4th quarter. Duff & Phelps Investment Management Co. now owns 27,192 shares of the company’s stock valued at $432,000 after acquiring an additional 1,432 shares during the last quarter. US Bancorp DE boosted its position in Fluence Energy by 676.6% during the 3rd quarter. US Bancorp DE now owns 1,693 shares of the company’s stock valued at $38,000 after purchasing an additional 1,475 shares during the period. Lazard Freres Gestion S.A.S. boosted its position in Fluence Energy by 7.3% during the 4th quarter. Lazard Freres Gestion S.A.S. now owns 22,180 shares of the company’s stock valued at $352,000 after purchasing an additional 1,500 shares during the period. KBC Group NV boosted its position in Fluence Energy by 1.6% during the 4th quarter. KBC Group NV now owns 108,296 shares of the company’s stock valued at $1,720,000 after purchasing an additional 1,671 shares during the period. Finally, Ameriprise Financial Inc. boosted its position in Fluence Energy by 0.4% during the 4th quarter. Ameriprise Financial Inc. now owns 440,002 shares of the company’s stock valued at $6,988,000 after purchasing an additional 1,734 shares during the period. 53.16% of the stock is currently owned by institutional investors.

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.