Fluence Energy (NASDAQ:FLNC) Shares Down 8.3% - Here's What Happened

Key Points

• Fluence Energy's stock price dropped by 8.3%, trading as low as $19.95, with around 3.5 million shares traded, reflecting a 37% decline from its average volume.
• Research reports have led to decreased ratings for Fluence Energy, with HSBC lowering its rating to "reduce" and setting a price target of $5.00, while four analysts maintain a Buy rating.
• The company reported quarterly earnings of $0.01 per share, better than the consensus estimate of ($0.02), although its revenue was below analyst expectations at $602.53 million.

Fluence Energy, Inc. (NASDAQ:FLNC - Get Free Report)'s stock price dropped 8.3% during trading on Thursday . The company traded as low as $19.95 and last traded at $19.66. Approximately 3,522,754 shares traded hands during trading, a decline of 37% from the average daily volume of 5,631,293 shares. The stock had previously closed at $21.44.

Wall Street Analyst Weigh In

FLNC has been the topic of a number of research reports. HSBC lowered shares of Fluence Energy from a "hold" rating to a "reduce" rating and set a $5.00 target price on the stock. in a research report on Wednesday, August 13th. Mizuho reissued a "neutral" rating and set a $10.00 price objective (up from $6.00) on shares of Fluence Energy in a report on Monday, July 14th. Susquehanna lifted their price objective on shares of Fluence Energy from $9.00 to $17.00 and gave the company a "positive" rating in a report on Monday. Barclays set a $13.00 price objective on shares of Fluence Energy in a report on Tuesday, October 7th. Finally, Jefferies Financial Group lifted their price objective on shares of Fluence Energy from $5.00 to $11.00 and gave the company an "underperform" rating in a report on Thursday, October 9th. Four research analysts have rated the stock with a Buy rating, seventeen have given a Hold rating and four have assigned a Sell rating to the company. According to data from MarketBeat.com, the stock presently has a consensus rating of "Hold" and a consensus price target of $9.33.

Fluence Energy Stock Down 11.6%

The company's fifty day simple moving average is $9.77 and its 200-day simple moving average is $7.18. The company has a debt-to-equity ratio of 0.75, a current ratio of 1.64 and a quick ratio of 1.06. The firm has a market capitalization of $3.46 billion, a PE ratio of -90.54 and a beta of 2.76.

Fluence Energy (NASDAQ:FLNC - Get Free Report) last released its quarterly earnings results on Monday, August 11th. The company reported $0.01 earnings per share (EPS) for the quarter, topping the consensus estimate of ($0.02) by $0.03. Fluence Energy had a negative net margin of 0.76% and a negative return on equity of 3.42%. The business had revenue of $602.53 million for the quarter, compared to analyst estimates of $738.52 million. Fluence Energy's quarterly revenue was up 24.7% compared to the same quarter last year. Fluence Energy has set its FY 2025 guidance at EPS. On average, analysts forecast that Fluence Energy, Inc. will post 0.08 EPS for the current year.

Hedge Funds Weigh In On Fluence Energy

Several institutional investors and hedge funds have recently bought and sold shares of the company. Goldman Sachs Group Inc. grew its holdings in shares of Fluence Energy by 189.7% during the first quarter. Goldman Sachs Group Inc. now owns 3,171,146 shares of the company's stock valued at $15,380,000 after buying an additional 2,076,668 shares during the last quarter. CenterBook Partners LP purchased a new stake in shares of Fluence Energy during the first quarter valued at $12,458,000. SG Americas Securities LLC grew its holdings in shares of Fluence Energy by 1,794.8% during the second quarter. SG Americas Securities LLC now owns 1,868,711 shares of the company's stock valued at $12,539,000 after buying an additional 1,770,090 shares during the last quarter. Geode Capital Management LLC grew its holdings in shares of Fluence Energy by 10.0% during the second quarter. Geode Capital Management LLC now owns 1,683,637 shares of the company's stock valued at $11,298,000 after buying an additional 153,614 shares during the last quarter. Finally, Federated Hermes Inc. grew its holdings in shares of Fluence Energy by 83.7% during the second quarter. Federated Hermes Inc. now owns 994,064 shares of the company's stock valued at $6,670,000 after buying an additional 452,896 shares during the last quarter. 53.16% of the stock is owned by hedge funds and other institutional investors.

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.

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