Fluence Energy (NASDAQ:FLNC) Shares Gap Down - Time to Sell?

Fluence Energy, Inc. (NASDAQ:FLNC - Get Free Report) shares gapped down before the market opened on Monday . The stock had previously closed at $4.18, but opened at $4.02. Fluence Energy shares last traded at $4.09, with a volume of 605,490 shares changing hands.

Wall Street Analysts Forecast Growth

A number of brokerages have issued reports on FLNC. Susquehanna reduced their price objective on Fluence Energy from $10.00 to $8.00 and set a "positive" rating for the company in a research note on Monday, April 14th. Bank of America downgraded shares of Fluence Energy from a "buy" rating to a "neutral" rating and reduced their target price for the company from $20.00 to $8.00 in a research report on Thursday, February 13th. Roth Mkm lowered Fluence Energy from a "buy" rating to a "neutral" rating and reduced their price objective for the company from $20.00 to $6.50 in a report on Wednesday, February 12th. HSBC downgraded Fluence Energy from a "buy" rating to a "hold" rating and set a $4.00 price target for the company. in a research note on Monday. Finally, Hsbc Global Res downgraded shares of Fluence Energy from a "strong-buy" rating to a "hold" rating in a report on Monday. One equities research analyst has rated the stock with a sell rating, nineteen have issued a hold rating and six have assigned a buy rating to the stock. According to MarketBeat.com, the stock currently has an average rating of "Hold" and a consensus target price of $10.64.

Fluence Energy Stock Up 5.5 %

The company has a quick ratio of 1.14, a current ratio of 1.57 and a debt-to-equity ratio of 0.74. The company's 50 day moving average price is $4.79 and its 200 day moving average price is $12.55. The firm has a market capitalization of $783.38 million, a price-to-earnings ratio of -86.38 and a beta of 2.48.

Fluence Energy (NASDAQ:FLNC - Get Free Report) last issued its quarterly earnings data on Monday, February 10th. The company reported ($0.32) earnings per share (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%. As a group, research analysts forecast that Fluence Energy, Inc. will post 0.08 earnings per share for the current fiscal year.

Insider Activity

In related news, Director Herman E. Bulls purchased 30,000 shares of the business's stock in a transaction that occurred on Thursday, February 13th. The stock was purchased at an average price of $6.53 per share, with a total value of $195,900.00. Following the completion of the acquisition, the director now owns 105,861 shares in the company, valued at $691,272.33. This trade represents a 39.55 % increase in their ownership of the stock. The purchase was disclosed in a legal filing with the SEC, which is available through this link. Also, CFO Ahmed Pasha acquired 15,500 shares of the company's stock in a transaction dated Friday, February 14th. The stock was purchased at an average cost of $6.48 per share, with a total value of $100,440.00. Following the completion of the purchase, the chief financial officer now directly owns 24,703 shares of the company's stock, valued at approximately $160,075.44. This represents a 168.42 % increase in their position. The disclosure for this purchase can be found here. Insiders have purchased a total of 79,000 shares of company stock worth $499,665 over the last 90 days. 0.65% of the stock is currently owned by company insiders.

Institutional Investors Weigh In On Fluence Energy

Several hedge funds and other institutional investors have recently bought and sold shares of the stock. Sanders Morris Harris LLC acquired a new stake in shares of Fluence Energy during the fourth quarter worth $812,000. Cidel Asset Management Inc. purchased a new position in Fluence Energy in the fourth quarter worth $350,000. SG Americas Securities LLC boosted its position in shares of Fluence Energy by 79.2% during the 4th quarter. SG Americas Securities LLC now owns 48,883 shares of the company's stock worth $776,000 after purchasing an additional 21,597 shares in the last quarter. Prescott Group Capital Management L.L.C. acquired a new position in shares of Fluence Energy during the 4th quarter worth $1,429,000. Finally, Principal Financial Group Inc. purchased a new position in shares of Fluence Energy in the 3rd quarter valued at about $5,742,000. 53.16% of the stock is currently owned by institutional investors and hedge funds.

About Fluence Energy

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.