Fluence Energy (NASDAQ:FLNC) Reaches New 52-Week Low - Should You Sell?

Shares of Fluence Energy, Inc. (NASDAQ:FLNC - Get Free Report) reached a new 52-week low during mid-day trading on Tuesday . The company traded as low as $12.01 and last traded at $12.62, with a volume of 328969 shares. The stock had previously closed at $12.48.

Wall Street Analyst Weigh In

A number of research analysts have weighed in on the company. Susquehanna increased their target price on Fluence Energy from $23.00 to $28.00 and gave the company a "positive" rating in a report on Wednesday, October 16th. Royal Bank of Canada dropped their price objective on shares of Fluence Energy from $28.00 to $27.00 and set an "outperform" rating on the stock in a report on Wednesday, November 27th. Canaccord Genuity Group cut their target price on shares of Fluence Energy from $37.00 to $34.00 and set a "buy" rating for the company in a research report on Friday, November 29th. Jefferies Financial Group downgraded shares of Fluence Energy from a "buy" rating to a "hold" rating and decreased their price target for the stock from $22.00 to $15.00 in a research report on Wednesday, January 22nd. Finally, Piper Sandler boosted their price objective on shares of Fluence Energy from $18.00 to $20.00 and gave the company a "neutral" rating in a research report on Wednesday, November 27th. Eight equities research analysts have rated the stock with a hold rating and thirteen have assigned a buy rating to the company's stock. According to data from MarketBeat, the company presently has a consensus rating of "Moderate Buy" and a consensus price target of $25.60.

Fluence Energy Stock Performance

The firm's fifty day simple moving average is $15.70 and its 200 day simple moving average is $18.23. The firm has a market cap of $2.27 billion, a P/E ratio of 96.38, a P/E/G ratio of 0.51 and a beta of 2.37.

Fluence Energy (NASDAQ:FLNC - Get Free Report) last released its quarterly earnings data on Monday, November 25th. The company reported $0.34 earnings per share (EPS) for the quarter, topping analysts' consensus estimates of $0.23 by $0.11. Fluence Energy had a return on equity of 4.10% and a net margin of 0.89%. The business had revenue of $1.23 billion for the quarter, compared to the consensus estimate of $1.28 billion. During the same quarter in the previous year, the company posted $0.02 EPS. The company's revenue was up 82.5% compared to the same quarter last year. On average, equities research analysts predict that Fluence Energy, Inc. will post 0.48 earnings per share for the current year.

Insider Buying and Selling at Fluence Energy

In related news, Director Herman E. Bulls acquired 10,000 shares of the stock in a transaction dated Monday, December 23rd. The stock was acquired at an average cost of $15.57 per share, with a total value of $155,700.00. Following the purchase, the director now directly owns 75,861 shares of the company's stock, valued at approximately $1,181,155.77. This trade represents a 15.18 % increase in their ownership of the stock. The transaction was disclosed in a legal filing with the SEC, which is available at this hyperlink. 0.65% of the stock is owned by company insiders.

Hedge Funds Weigh In On Fluence Energy

Several large investors have recently modified their holdings of the stock. US Bancorp DE boosted its stake in Fluence Energy by 676.6% during the third quarter. US Bancorp DE now owns 1,693 shares of the company's stock worth $38,000 after buying an additional 1,475 shares during the period. CWM LLC lifted its holdings in shares of Fluence Energy by 164.4% in the 3rd quarter. CWM LLC now owns 2,842 shares of the company's stock worth $65,000 after acquiring an additional 1,767 shares during the last quarter. Point72 DIFC Ltd purchased a new position in shares of Fluence Energy during the 3rd quarter worth about $74,000. Point72 Asia Singapore Pte. Ltd. bought a new position in Fluence Energy during the 3rd quarter valued at about $87,000. Finally, Blue Trust Inc. raised its position in Fluence Energy by 45.3% in the 3rd quarter. Blue Trust Inc. now owns 4,821 shares of the company's stock worth $109,000 after purchasing an additional 1,502 shares during the period. Institutional investors own 53.16% of the company's stock.

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.