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

Key Points

• Shares gapped down premarket, opening at $13.82 after a $14.98 close and last trading around $14.22 on roughly 1.8 million shares.
• The Street's consensus is a "Reduce" rating with a $15.89 target (analyst mix: 4 Buys, 12 Holds, 5 Sells), despite some higher individual targets.
• Fluence reported a quarterly EPS miss of ($0.34) vs. ($0.18) expected but beat revenue at $475.2M (up 154.4% YoY); the company remains unprofitable with negative net margin and ROE.

Shares of Fluence Energy, Inc. (NASDAQ:FLNC - Get Free Report) gapped down prior to trading on Friday . The stock had previously closed at $14.98, but opened at $13.82. Fluence Energy shares last traded at $14.2180, with a volume of 1,799,564 shares traded.

Wall Street Analysts Forecast Growth

FLNC has been the topic of a number of recent analyst reports. Bank of America set a $32.00 target price on Fluence Energy in a report on Tuesday, February 3rd. Barclays reduced their target price on Fluence Energy from $20.00 to $16.00 and set an "equal weight" rating on the stock in a report on Monday. Morgan Stanley set a $16.00 target price on Fluence Energy in a report on Monday, January 26th. Needham & Company LLC initiated coverage on Fluence Energy in a report on Friday, March 20th. They set a "hold" rating on the stock. Finally, Guggenheim upgraded Fluence Energy from a "sell" rating to a "neutral" rating in a report on Thursday, March 19th. Four analysts have rated the stock with a Buy rating, twelve have issued a Hold rating and five have issued a Sell rating to the stock. According to data from MarketBeat.com, the company presently has a consensus rating of "Reduce" and a consensus target price of $15.89.

Fluence Energy Stock Performance

The company has a quick ratio of 1.08, a current ratio of 1.48 and a debt-to-equity ratio of 0.80. The stock has a market cap of $2.48 billion, a P/E ratio of -30.81 and a beta of 2.96. The stock has a fifty day simple moving average of $15.74 and a 200-day simple moving average of $18.90.

Fluence Energy (NASDAQ:FLNC - Get Free Report) last issued its earnings results on Wednesday, February 4th. The company reported ($0.34) earnings per share (EPS) for the quarter, missing analysts' consensus estimates of ($0.18) by ($0.16). Fluence Energy had a negative return on equity of 10.10% and a negative net margin of 2.04%.The company had revenue of $475.23 million for the quarter, compared to the consensus estimate of $444.23 million. During the same quarter last year, the business posted ($0.32) EPS. Fluence Energy's quarterly revenue was up 154.4% on a year-over-year basis. Equities analysts expect that Fluence Energy, Inc. will post 0.08 earnings per share for the current fiscal year.

Insider Buying and Selling at Fluence Energy

In other news, Director Heynitz Harald Von sold 10,000 shares of Fluence Energy stock in a transaction dated Wednesday, March 18th. The stock was sold at an average price of $16.50, for a total transaction of $165,000.00. Following the transaction, the director owned 63,550 shares in the company, valued at $1,048,575. The trade was a 13.60% decrease in their position. The transaction was disclosed in a document filed with the SEC, which is available at this hyperlink. 0.69% of the stock is owned by company insiders.

Hedge Funds Weigh In On Fluence Energy

Several institutional investors have recently modified their holdings of FLNC. Dragoneer Investment Group LLC bought a new position in shares of Fluence Energy during the 3rd quarter valued at about $65,883,000. Price T Rowe Associates Inc. MD lifted its holdings in shares of Fluence Energy by 5,489.8% during the 4th quarter. Price T Rowe Associates Inc. MD now owns 3,045,780 shares of the company's stock valued at $60,247,000 after purchasing an additional 2,991,292 shares in the last quarter. Goldman Sachs Group Inc. lifted its holdings in shares of Fluence Energy by 189.7% during the 1st quarter. Goldman Sachs Group Inc. now owns 3,171,146 shares of the company's stock valued at $15,380,000 after purchasing an additional 2,076,668 shares in the last quarter. Jacobs Levy Equity Management Inc. bought a new position in shares of Fluence Energy during the 3rd quarter valued at about $14,207,000. Finally, Connor Clark & Lunn Investment Management Ltd. bought a new position in shares of Fluence Energy during the 3rd quarter valued at about $12,901,000. Institutional investors own 53.16% of the company's stock.

Fluence Energy Company Profile

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.

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