Fluence Energy (NASDAQ:FLNC) Shares Gap Down on 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)'s share price gapped down before the market opened 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.

Several other equities analysts also recently commented on the company. HSBC downgraded Fluence Energy from a "hold" rating to a "reduce" rating and set a $5.00 price target on the stock. in a report on Wednesday. Royal Bank Of Canada lowered their target price on shares of Fluence Energy from $8.00 to $7.00 and set a "sector perform" rating on the stock in a research note on Wednesday. Mizuho reissued a "neutral" rating and set a $10.00 target price (up previously from $6.00) on shares of Fluence Energy in a research report on Monday, July 14th. Robert W. Baird decreased their price target on shares of Fluence Energy from $9.00 to $5.00 and set a "neutral" rating for the company in a report on Tuesday, April 15th. Finally, BMO Capital Markets set a $5.00 price objective on Fluence Energy and gave the stock a "market perform" rating in a research note on Wednesday, June 25th. Three equities research analysts have rated the stock with a sell rating, seventeen have assigned a hold rating and four have given a buy rating to the company's stock. According to data from MarketBeat.com, the company has a consensus rating of "Hold" and an average target price of $7.98.

Institutional Trading of Fluence Energy

Institutional investors and hedge funds have recently added to or reduced their stakes in the business. Parallel Advisors LLC bought a new position in shares of Fluence Energy during the 2nd quarter worth approximately $30,000. Altshuler Shaham Ltd bought a new position in Fluence Energy in the 4th quarter valued at $34,000. SBI Securities Co. Ltd. increased its position in Fluence Energy by 462.6% in the first quarter. SBI Securities Co. Ltd. now owns 8,085 shares of the company's stock worth $39,000 after purchasing an additional 6,648 shares during the period. Ameritas Investment Partners Inc. raised 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 worth $52,000 after buying an additional 1,586 shares during the last quarter. Finally, TFB Advisors LLC bought a new position in shares of Fluence Energy in the 1st quarter worth $53,000. Institutional investors own 53.16% of the company's stock.

Fluence Energy Price Performance

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

Fluence Energy (NASDAQ:FLNC - Get Free Report) last posted its earnings results 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 business had revenue of $602.53 million during the quarter, compared to analysts' expectations of $738.52 million. Fluence Energy's revenue was up 24.7% on a year-over-year basis. On average, equities research analysts expect that Fluence Energy, Inc. will post 0.08 EPS for the current fiscal 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.