Fluence Energy (NASDAQ:FLNC) Shares Down 9.2% – Here’s Why

Fluence Energy, Inc. (NASDAQ:FLNC) was down 9.2% during mid-day trading on Monday . The stock traded as low as $5.22 and last traded at $5.20. Approximately 3,831,049 shares were traded during trading, a decline of 40% from the average daily volume of 6,361,326 shares. The stock had previously closed at $5.72.

Wall Street Analyst Weigh In

Several research analysts have recently commented on FLNC shares. Morgan Stanley decreased their price objective on Fluence Energy from $20.00 to $8.00 and set an “equal weight” rating on the stock in a report on Wednesday, February 12th. Susquehanna reduced their price target on Fluence Energy from $23.00 to $10.00 and set a “positive” rating on the stock in a research report on Wednesday, February 12th. Roth Mkm downgraded Fluence Energy from a “buy” rating to a “neutral” rating and lowered their price objective for the company from $20.00 to $6.50 in a research report on Wednesday, February 12th. Citigroup cut their target price on shares of Fluence Energy from $24.00 to $10.00 and set a “neutral” rating on the stock in a report on Tuesday, February 11th. Finally, Truist Financial lowered their price target on shares of Fluence Energy from $28.00 to $13.00 and set a “buy” rating for the company in a report on Wednesday, February 12th. One research analyst has rated the stock with a sell rating, fifteen have issued a hold rating and eight have issued a buy rating to the company’s stock. According to data from MarketBeat, the stock has an average rating of “Hold” and an average price target of $14.64.

Fluence Energy Stock Down 9.3 %

The company has a debt-to-equity ratio of 0.74, a current ratio of 1.57 and a quick ratio of 1.14. The stock has a 50 day simple moving average of $12.59 and a 200-day simple moving average of $17.32. The firm has a market cap of $942.24 million, a PE ratio of -103.80 and a beta of 2.37.

Fluence Energy (NASDAQ:FLNC) last announced its quarterly earnings results on Monday, February 10th. The company reported ($0.32) earnings per share (EPS) for the quarter, missing analysts’ consensus estimates 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%. Sell-side analysts predict that Fluence Energy, Inc. will post 0.08 EPS for the current fiscal year.

Insider Buying and Selling

In other Fluence Energy news, CEO Julian Nebreda purchased 23,500 shares of the stock in a transaction dated Thursday, February 13th. The shares were purchased at an average cost of $6.35 per share, with a total value of $149,225.00. Following the completion of the acquisition, the chief executive officer now directly owns 120,455 shares in the company, valued at $764,889.25. This trade represents a 24.24 % increase in their position. The transaction was disclosed in a document filed with the SEC, which is accessible through this hyperlink. Also, Director Herman E. Bulls bought 30,000 shares of the stock in a transaction on Thursday, February 13th. The shares were bought at an average price of $6.53 per share, for a total transaction of $195,900.00. Following the purchase, the director now directly owns 105,861 shares in the company, valued at approximately $691,272.33. This trade represents a 39.55 % increase in their position. The disclosure for this purchase can be found here. Insiders bought a total of 79,000 shares of company stock worth $601,265 in the last three months. Insiders own 0.65% of the company’s stock.

Institutional Inflows and Outflows

Hedge funds have recently bought and sold shares of the company. UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC raised its position in shares of Fluence Energy by 18.8% during the fourth quarter. UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC now owns 191,459 shares of the company’s stock valued at $3,040,000 after buying an additional 30,252 shares during the last quarter. Zimmer Partners LP grew its stake in Fluence Energy by 757.7% during the fourth quarter. Zimmer Partners LP now owns 2,144,301 shares of the company’s stock valued at $34,052,000 after acquiring an additional 1,894,301 shares in the last quarter. Vident Advisory LLC increased its holdings in Fluence Energy by 35.8% in the 4th quarter. Vident Advisory LLC now owns 13,930 shares of the company’s stock valued at $221,000 after acquiring an additional 3,672 shares during the last quarter. Wexford Capital LP purchased a new stake in Fluence Energy in the 4th quarter worth $2,480,000. Finally, Squarepoint Ops LLC boosted its holdings in shares of Fluence Energy by 5.8% during the 4th quarter. Squarepoint Ops LLC now owns 129,866 shares of the company’s stock valued at $2,062,000 after purchasing an additional 7,074 shares during the last quarter. Institutional investors own 53.16% of the company’s stock.

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.