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

Key Points

• Fluence Energy shares fell sharply after GLJ Research downgraded the stock from “buy” to “hold,” cutting its price target from $26.00 to $12.89. Shares opened at $11.57 versus a prior close of $12.07 and last traded near $11.41.
• Analyst sentiment is broadly cautious, with a consensus “hold” rating from 23 analysts and an average price target of $17.89. Six analysts rate the stock a buy, 13 a hold, and four a sell.
• Fluence reported a quarterly loss of $0.24 per share and revenue of $649.85 million, below the $818.57 million consensus estimate, although revenue increased 7.9% year over year. Insiders sold 36,974 shares worth about $879,787 over the past three months.

Shares of Fluence Energy, Inc. (NASDAQ:FLNC - Get Free Report) gapped down prior to trading on Thursday after Glj Research downgraded the stock from a buy rating to a hold rating. The stock had previously closed at $12.07, but opened at $11.57. Glj Research now has a $12.89 price target on the stock, down from their previous price target of $26.00. Fluence Energy shares last traded at $11.4080, with a volume of 1,110,468 shares trading hands.

Several other equities analysts also recently weighed in on the company. Morgan Stanley set a $15.00 target price on Fluence Energy in a research report on Friday, August 7th. Zacks Research cut Fluence Energy from a "strong-buy" rating to a "hold" rating in a report on Wednesday, August 12th. JPMorgan Chase & Co. upped their price objective on shares of Fluence Energy from $13.00 to $17.00 and gave the company a "neutral" rating in a research note on Friday, May 8th. The Goldman Sachs Group reiterated a "buy" rating and set a $22.00 price objective on shares of Fluence Energy in a report on Thursday, May 7th. Finally, Truist Financial initiated coverage on shares of Fluence Energy in a report on Monday, July 13th. They issued a "hold" rating and a $16.00 target price for the company. Six analysts have rated the stock with a Buy rating, thirteen have issued a Hold rating and four have assigned a Sell rating to the company. According to data from MarketBeat, the company has a consensus rating of "Hold" and an average target price of $17.89.

Insider Buying and Selling

In other Fluence Energy news, SVP John Zahurancik sold 15,974 shares of the business's stock in a transaction that occurred on Tuesday, June 23rd. The shares were sold at an average price of $22.03, for a total transaction of $351,907.22. Following the completion of the sale, the senior vice president directly owned 71,171 shares in the company, valued at $1,567,897.13. The trade was a 18.33% decrease in their ownership of the stock. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available through this hyperlink. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Also, Director Heynitz Harald Von sold 5,000 shares of the stock in a transaction on Monday, June 15th. The shares were sold at an average price of $25.00, for a total value of $125,000.00. Following the completion of the sale, the director owned 58,550 shares of the company's stock, valued at approximately $1,463,750. This represents a 7.87% decrease in their ownership of the stock. The disclosure for this sale is available in the SEC filing. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. In the last three months, insiders have sold 36,974 shares of company stock valued at $879,787. Corporate insiders own 0.69% of the company's stock.

Institutional Trading of Fluence Energy

Hedge funds and other institutional investors have recently made changes to their positions in the stock. Curio Wealth LLC acquired a new stake in shares of Fluence Energy during the 4th quarter valued at approximately $31,000. State of Wyoming acquired a new position in Fluence Energy in the fourth quarter worth $36,000. EverSource Wealth Advisors LLC boosted its holdings in Fluence Energy by 31.8% in the first quarter. EverSource Wealth Advisors LLC now owns 2,782 shares of the company's stock worth $38,000 after purchasing an additional 672 shares during the period. Advisory Services Network LLC bought a new stake in Fluence Energy during the third quarter valued at $48,000. Finally, Sankala Group LLC bought a new stake in Fluence Energy during the fourth quarter valued at $51,000. Institutional investors own 53.16% of the company's stock.

Fluence Energy Stock Down 5.3%

The company has a market capitalization of $2.11 billion, a price-to-earnings ratio of -18.74 and a beta of 2.78. The stock's fifty day simple moving average is $16.65 and its two-hundred day simple moving average is $17.40. The company has a debt-to-equity ratio of 0.91, a current ratio of 1.34 and a quick ratio of 0.89.

Fluence Energy (NASDAQ:FLNC - Get Free Report) last announced its quarterly earnings results on Wednesday, August 5th. The company reported ($0.24) earnings per share (EPS) for the quarter. The company had revenue of $649.85 million during the quarter, compared to the consensus estimate of $818.57 million. Fluence Energy had a negative return on equity of 16.79% and a negative net margin of 3.13%.The company's revenue for the quarter was up 7.9% on a year-over-year basis. During the same period last year, the business posted $0.01 EPS. On average, sell-side analysts predict that Fluence Energy, Inc. will post -0.51 earnings per share for the current fiscal year.

About Fluence Energy

Fluence Energy is a leading global provider of energy storage products and services, specializing in the deployment of advanced battery systems to support grid stability and renewable integration. The company develops, engineers and delivers turnkey energy storage solutions designed to optimize the reliability, efficiency and economic performance of power networks. By combining hardware, software and lifecycle services, Fluence addresses the growing need for flexible energy assets in an evolving electricity landscape.

The company's core offerings include modular energy storage platforms that pair lithium-ion battery technology with control and optimization software.

This instant news alert was generated by narrative science technology and financial data from MarketBeat in order to provide readers with the fastest reporting and unbiased coverage. Please send any questions or comments about this story to contact@marketbeat.com.

Continue following MarketBeat

Add MarketBeat as your preferred source on Google to see our latest stories in your feed.

Add As Preferred Source