Hsbc Global Res Downgrades Fluence Energy (NASDAQ:FLNC) to Hold

Hsbc Global Res downgraded shares of Fluence Energy (NASDAQ:FLNC - Free Report) from a strong-buy rating to a hold rating in a research note issued to investors on Monday morning,Zacks.com reports.

A number of other research firms have also issued reports on FLNC. Robert W. Baird lowered their price target on Fluence Energy from $9.00 to $5.00 and set a "neutral" rating on the stock in a report on Tuesday, April 15th. The Goldman Sachs Group lowered 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, February 12th. JPMorgan Chase & Co. cut shares of Fluence Energy from an "overweight" rating to a "neutral" rating and dropped their price objective for the stock from $14.00 to $7.00 in a research note on Friday, April 11th. Piper Sandler lowered their price target on shares of Fluence Energy from $10.00 to $4.00 and set a "neutral" rating for the company in a report on Monday, April 21st. Finally, UBS Group lowered their price objective on Fluence Energy from $8.00 to $4.50 and set a "neutral" rating for the company in a research report on Monday, April 14th. One investment analyst has rated the stock with a sell rating, nineteen have given a hold rating and six have issued a buy rating to the company. Based on data from MarketBeat.com, the company presently has a consensus rating of "Hold" and a consensus target price of $10.64.

Fluence Energy Stock Performance

NASDAQ:FLNC traded up $0.06 during mid-day trading on Monday, reaching $4.34. 2,874,414 shares of the stock were exchanged, compared to its average volume of 3,447,404. The stock has a market capitalization of $787.92 million, a P/E ratio of -86.80 and a beta of 2.48. Fluence Energy has a 1 year low of $3.46 and a 1 year high of $26.12. The company has a 50 day simple moving average of $4.70 and a 200-day simple moving average of $12.18. The company has a quick ratio of 1.14, a current ratio of 1.57 and a debt-to-equity ratio of 0.74.

Fluence Energy (NASDAQ:FLNC - Get Free Report) last announced its 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%. Analysts anticipate that Fluence Energy will post 0.08 earnings per share for the current fiscal year.

Insiders Place Their Bets

In related news, Director Herman E. Bulls purchased 10,000 shares of the business's stock in a transaction that occurred on Wednesday, March 5th. The shares were acquired at an average price of $5.41 per share, with a total value of $54,100.00. Following the acquisition, the director now owns 115,861 shares in the company, valued at approximately $626,808.01. This trade represents a 9.45 % increase in their position. The transaction was disclosed in a document filed with the SEC, which is accessible through this hyperlink. Also, CFO Ahmed Pasha acquired 15,500 shares of the stock in a transaction that occurred on Friday, February 14th. The shares were bought at an average price of $6.48 per share, with a total value of $100,440.00. Following the completion of the purchase, the chief financial officer now owns 24,703 shares in the company, valued at $160,075.44. The trade was a 168.42 % increase in their ownership of the stock. The disclosure for this purchase can be found here. Insiders have acquired 79,000 shares of company stock valued at $499,665 over the last quarter. Insiders own 0.65% of the company's stock.

Institutional Trading of Fluence Energy

Hedge funds have recently added to or reduced their stakes in the business. Zimmer Partners LP grew its stake in shares of Fluence Energy by 757.7% in the fourth quarter. Zimmer Partners LP now owns 2,144,301 shares of the company's stock worth $34,052,000 after purchasing an additional 1,894,301 shares in the last quarter. Webs Creek Capital Management LP acquired a new position in Fluence Energy during the 4th quarter valued at about $15,118,000. Edgestream Partners L.P. acquired a new position in Fluence Energy during the 1st quarter valued at about $4,180,000. Covalis Capital LLP bought a new stake in shares of Fluence Energy during the 4th quarter worth about $12,113,000. Finally, Trexquant Investment LP lifted its stake in shares of Fluence Energy by 577.5% in the 4th quarter. Trexquant Investment LP now owns 876,463 shares of the company's stock worth $13,918,000 after acquiring an additional 747,103 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.