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

Key Points

• Fluence Energy shares gapped down from a previous close of $9.14 to an opening price of $7.74, trading as low as $7.52 with significant volume.
• Analyst ratings on Fluence Energy are mixed, with a consensus rating of "Hold" and an average price target of $7.98, following various upgrades and downgrades from major financial institutions.
• The company reported quarterly earnings of $0.01 per share, exceeding expectations, but its revenue of $602.53 million fell short of analyst forecasts of $738.52 million, showing a year-over-year revenue growth of 24.7%.

Fluence Energy, Inc. (NASDAQ:FLNC - Get Free Report) shares gapped down prior to trading on Tuesday after Hsbc Global Res downgraded the stock from a hold rating to a moderate sell rating. The stock had previously closed at $9.14, but opened at $7.74. Fluence Energy shares last traded at $7.52, with a volume of 1,673,784 shares changing hands.

A number of other research firms have also recently weighed in on FLNC. Canaccord Genuity Group dropped their price target on Fluence Energy from $14.00 to $10.00 and set a "buy" rating on the stock in a research note on Wednesday, April 16th. Piper Sandler lowered their price objective on Fluence Energy from $10.00 to $4.00 and set a "neutral" rating on the stock in a research report on Monday, April 21st. Barclays lowered their price objective on Fluence Energy from $9.00 to $8.00 and set an "equal weight" rating on the stock in a research report on Tuesday. Morgan Stanley increased their price objective on Fluence Energy from $4.00 to $5.00 and gave the stock an "equal weight" rating in a research report on Monday, May 19th. Finally, Guggenheim lowered their price objective on Fluence Energy from $6.00 to $2.00 and set a "sell" rating on the stock in a research report on Tuesday, April 15th. Three equities research analysts have rated the stock with a sell rating, seventeen have issued a hold rating and four have given a buy rating to the company's stock. Based on data from MarketBeat.com, the company currently has an average rating of "Hold" and an average price target of $7.98.

Institutional Trading of Fluence Energy

A number of hedge funds have recently made changes to their positions in FLNC. Parallel Advisors LLC acquired a new stake in shares of Fluence Energy during the second quarter valued at about $30,000. Altshuler Shaham Ltd acquired a new stake in shares of Fluence Energy during the fourth quarter valued at about $34,000. SBI Securities Co. Ltd. boosted its stake in shares of Fluence Energy by 462.6% during the first quarter. SBI Securities Co. Ltd. now owns 8,085 shares of the company's stock valued at $39,000 after purchasing an additional 6,648 shares in the last quarter. Ameritas Investment Partners Inc. boosted its stake in shares of Fluence Energy by 25.7% during the second quarter. Ameritas Investment Partners Inc. now owns 7,753 shares of the company's stock valued at $52,000 after purchasing an additional 1,586 shares in the last quarter. Finally, TFB Advisors LLC acquired a new stake in shares of Fluence Energy during the first quarter valued at about $53,000. 53.16% of the stock is owned by institutional investors and hedge funds.

Fluence Energy Stock Up 5.0%

The company has a quick ratio of 0.99, a current ratio of 1.64 and a debt-to-equity ratio of 0.75. The stock has a market capitalization of $1.44 billion, a price-to-earnings ratio of -37.86 and a beta of 2.67. The stock has a 50 day moving average price of $7.54 and a 200 day moving average price of $6.37.

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

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.