Fluence Energy (NASDAQ:FLNC) Trading Down 5.9% After Analyst Downgrade

Fluence Energy, Inc. (NASDAQ:FLNC) dropped 5.9% during mid-day trading on Thursday after Roth Capital downgraded the stock from a strong-buy rating to a hold rating. The stock traded as low as $6.14 and last traded at $6.15. Approximately 8,752,647 shares were traded during trading, an increase of 45% from the average daily volume of 6,019,060 shares. The stock had previously closed at $6.53.

A number of other brokerages also recently issued reports on FLNC. Canaccord Genuity Group decreased their price objective on Fluence Energy from $34.00 to $14.00 and set a “buy” rating on the stock in a research report on Wednesday. The Goldman Sachs Group decreased their price target on Fluence Energy from $26.00 to $13.00 and set a “buy” rating on the stock in a report on Wednesday. Susquehanna dropped their price objective on shares of Fluence Energy from $23.00 to $10.00 and set a “positive” rating for the company in a research note on Wednesday. Jefferies Financial Group downgraded shares of Fluence Energy from a “buy” rating to a “hold” rating and reduced their target price for the company from $22.00 to $15.00 in a research note on Wednesday, January 22nd. Finally, BNP Paribas raised shares of Fluence Energy from an “underperform” rating to a “neutral” rating and set a $22.00 price target for the company in a research note on Friday, November 8th. One analyst has rated the stock with a sell rating, fifteen have given a hold rating and eight have assigned a buy rating to the company’s stock. According to MarketBeat.com, Fluence Energy presently has an average rating of “Hold” and a consensus price target of $14.64.

Insider Buying and Selling

In other Fluence Energy news, Director Herman E. Bulls purchased 10,000 shares of Fluence Energy stock in a transaction dated Monday, December 23rd. The stock was acquired at an average price of $15.57 per share, for a total transaction of $155,700.00. Following the acquisition, the director now owns 75,861 shares in the company, valued at $1,181,155.77. This trade represents a 15.18 % increase in their position. The purchase was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this hyperlink. 0.65% of the stock is owned by insiders.

Hedge Funds Weigh In On Fluence Energy

Several institutional investors have recently bought and sold shares of FLNC. Sanders Morris Harris LLC purchased a new stake in Fluence Energy during the fourth quarter worth $812,000. Cidel Asset Management Inc. purchased a new stake in shares of Fluence Energy during the 4th quarter worth $350,000. SG Americas Securities LLC boosted its position in Fluence Energy by 79.2% during the fourth quarter. SG Americas Securities LLC now owns 48,883 shares of the company’s stock valued at $776,000 after purchasing an additional 21,597 shares in the last quarter. FMR LLC grew its stake in Fluence Energy by 9.0% in the third quarter. FMR LLC now owns 1,606,100 shares of the company’s stock valued at $36,475,000 after purchasing an additional 132,868 shares during the last quarter. Finally, Principal Financial Group Inc. bought a new position in Fluence Energy in the third quarter worth about $5,742,000. 53.16% of the stock is owned by hedge funds and other institutional investors.

Fluence Energy Stock Down 6.0 %

The firm has a market capitalization of $1.11 billion, a PE ratio of 47.19, a price-to-earnings-growth ratio of 0.49 and a beta of 2.37. The company’s 50-day simple moving average is $15.03 and its 200 day simple moving average is $18.07.

Fluence Energy (NASDAQ:FLNC) last posted its earnings results on Monday, February 10th. The company reported ($0.32) EPS for the quarter, missing analysts’ consensus estimates of ($0.17) by ($0.15). Fluence Energy had a net margin of 0.89% and a return on equity of 4.10%. On average, sell-side analysts forecast that Fluence Energy, Inc. will post 0.48 earnings per share for the current fiscal year.

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.