Fluence Energy (NASDAQ:FLNC) Shares Gap Down Following Analyst Downgrade

Shares of Fluence Energy, Inc. (NASDAQ:FLNC) gapped down prior to trading on Tuesday after Robert W. Baird lowered their price target on the stock from $9.00 to $5.00. The stock had previously closed at $4.06, but opened at $3.94. Robert W. Baird currently has a neutral rating on the stock. Fluence Energy shares last traded at $3.93, with a volume of 256,040 shares traded.

A number of other brokerages also recently issued reports on FLNC. Mizuho initiated coverage on Fluence Energy in a research report on Wednesday, March 5th. They set an “outperform” rating and a $8.00 price target for the company. Baird R W downgraded Fluence Energy from a “strong-buy” rating to a “hold” rating in a research report on Wednesday, December 18th. Guggenheim downgraded Fluence Energy from a “buy” rating to a “sell” rating and dropped their target price for the stock from $26.00 to $6.00 in a research report on Tuesday, February 11th. Morgan Stanley cut their price target on shares of Fluence Energy from $20.00 to $8.00 and set an “equal weight” rating for the company in a research report on Wednesday, February 12th. Finally, Piper Sandler decreased their price objective on Fluence Energy from $20.00 to $10.00 and set a “neutral” rating on the stock in a report on Wednesday, February 12th. One research analyst has rated the stock with a sell rating, seventeen have assigned a hold rating and six have assigned a buy rating to the company. According to data from MarketBeat, the company has an average rating of “Hold” and an average price target of $11.81.

Insider Buying and Selling

In related news, CEO Julian Nebreda acquired 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 transaction, the chief executive officer now directly owns 120,455 shares in the company, valued at approximately $764,889.25. This represents a 24.24 % increase in their ownership of the stock. The acquisition 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 Fluence Energy stock in a transaction that occurred on Thursday, February 13th. The stock was purchased at an average cost 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 $691,272.33. This represents a 39.55 % increase in their position. The disclosure for this purchase can be found here. Over the last quarter, insiders have acquired 79,000 shares of company stock valued at $499,665. 0.65% of the stock is owned by insiders.

Hedge Funds Weigh In On Fluence Energy

A number of hedge funds have recently modified their holdings of FLNC. Altshuler Shaham Ltd bought a new position in Fluence Energy in the 4th quarter worth $34,000. Householder Group Estate & Retirement Specialist LLC purchased a new position in Fluence Energy in the 4th quarter worth approximately $79,000. Tower Research Capital LLC TRC grew its holdings in Fluence Energy by 827.1% during the 4th quarter. Tower Research Capital LLC TRC now owns 5,516 shares of the company’s stock valued at $88,000 after buying an additional 4,921 shares in the last quarter. Morse Asset Management Inc bought a new stake in shares of Fluence Energy during the third quarter valued at approximately $175,000. Finally, Blueshift Asset Management LLC purchased a new position in shares of Fluence Energy in the fourth quarter worth $176,000. 53.16% of the stock is currently owned by institutional investors.

Fluence Energy Trading Down 3.1 %

The stock has a market cap of $714.40 million, a P/E ratio of -79.28 and a beta of 2.48. The stock’s 50-day moving average is $5.84 and its two-hundred day moving average is $13.91. The company has a debt-to-equity ratio of 0.74, a current ratio of 1.57 and a quick ratio of 1.14.

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

Fluence Energy Company Profile

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.