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

Fluence Energy, Inc. (NASDAQ:FLNC)’s stock price hit a new 52-week low on Monday . The stock traded as low as $4.63 and last traded at $4.78, with a volume of 855245 shares trading hands. The stock had previously closed at $4.98.

Analysts Set New Price Targets

FLNC has been the subject of several recent analyst reports. Truist Financial reduced their target price on shares of Fluence Energy from $28.00 to $13.00 and set a “buy” rating for the company in a research note on Wednesday, February 12th. Canaccord Genuity Group decreased their price objective on shares of Fluence Energy from $34.00 to $14.00 and set a “buy” rating for the company in a research note on Wednesday, February 12th. Piper Sandler reduced their target price on Fluence Energy from $20.00 to $10.00 and set a “neutral” rating for the company in a report on Wednesday, February 12th. Bank of America lowered Fluence Energy from a “buy” rating to a “neutral” rating and dropped their price target for the stock from $20.00 to $8.00 in a report on Thursday, February 13th. Finally, Susquehanna reduced their price objective on Fluence Energy from $23.00 to $10.00 and set a “positive” rating for the company in a research note on Wednesday, February 12th. One analyst has rated the stock with a sell rating, fifteen have issued a hold rating and nine have issued a buy rating to the company. According to data from MarketBeat, the stock currently has a consensus rating of “Hold” and a consensus target price of $14.34.

Fluence Energy Price Performance

The stock has a market capitalization of $859.63 million, a PE ratio of -94.90 and a beta of 2.49. The business’s 50-day moving average price is $8.19 and its 200 day moving average price is $15.46. The company has a debt-to-equity ratio of 0.74, a quick ratio of 1.14 and a current ratio of 1.57.

Fluence Energy (NASDAQ:FLNC) last announced its earnings results on Monday, February 10th. The company reported ($0.32) earnings per share 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%. Research analysts forecast that Fluence Energy, Inc. will post 0.08 earnings per share for the current year.

Insider Activity at Fluence Energy

In other news, CFO Ahmed Pasha acquired 15,500 shares of Fluence Energy stock in a transaction dated Friday, February 14th. The shares were purchased at an average cost of $6.48 per share, for a total transaction of $100,440.00. Following the transaction, the chief financial officer now owns 24,703 shares of the company’s stock, valued at $160,075.44. This trade represents a 168.42 % increase in their ownership of the stock. The purchase was disclosed in a legal filing with the SEC, which is available through the SEC website. Also, Director Herman E. Bulls bought 30,000 shares of the company’s stock in a transaction that occurred on 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 transaction, the director now directly owns 105,861 shares in the company, valued at $691,272.33. The trade was a 39.55 % increase in their ownership of the stock. The disclosure for this purchase can be found here. Insiders have purchased 79,000 shares of company stock valued at $499,665 over the last three months. 0.65% of the stock is owned by corporate insiders.

Institutional Inflows and Outflows

Institutional investors and hedge funds have recently bought and sold shares of the business. Sanders Morris Harris LLC purchased a new stake in shares of Fluence Energy in the 4th quarter valued at $812,000. Cidel Asset Management Inc. bought a new stake in shares of Fluence Energy in the 4th quarter valued at about $350,000. SG Americas Securities LLC boosted its holdings in Fluence Energy by 79.2% during the 4th quarter. SG Americas Securities LLC now owns 48,883 shares of the company’s stock valued at $776,000 after acquiring an additional 21,597 shares during the period. Prescott Group Capital Management L.L.C. purchased a new position in Fluence Energy in the 4th quarter worth approximately $1,429,000. Finally, FMR LLC increased its stake 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 buying an additional 132,868 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.