Fluence Energy (NASDAQ:FLNC) Shares Gap Down - What's Next?

Fluence Energy, Inc. (NASDAQ:FLNC - Get Free Report)'s stock price gapped down before the market opened on Monday . The stock had previously closed at $8.17, but opened at $7.75. Fluence Energy shares last traded at $8.01, with a volume of 978,105 shares.

Analyst Upgrades and Downgrades

Several brokerages recently commented on FLNC. Morgan Stanley upped their target price on Fluence Energy from $4.00 to $5.00 and gave the company an "equal weight" rating in a report on Monday, May 19th. BMO Capital Markets set a $5.00 price target on Fluence Energy and gave the stock a "market perform" rating in a report on Wednesday, June 25th. HSBC cut Fluence Energy from a "buy" rating to a "hold" rating and set a $4.00 price target on the stock. in a report on Monday, April 28th. Guggenheim cut their price target on Fluence Energy from $6.00 to $2.00 and set a "sell" rating on the stock in a report on Tuesday, April 15th. Finally, Barclays restated an "equal weight" rating and set a $5.00 price target (down from $9.00) on shares of Fluence Energy in a report on Tuesday, April 8th. Two analysts have rated the stock with a sell rating, eighteen have given a hold rating and four have issued a buy rating to the company's stock. Based on data from MarketBeat, the stock currently has an average rating of "Hold" and an average target price of $7.58.

Fluence Energy Stock Performance

The stock has a market cap of $1.44 billion, a PE ratio of -36.09 and a beta of 2.65. The company has a debt-to-equity ratio of 0.78, a current ratio of 1.51 and a quick ratio of 0.99. The business has a 50 day moving average price of $5.71 and a two-hundred day moving average price of $7.47.

Fluence Energy (NASDAQ:FLNC - Get Free Report) last released its quarterly earnings data on Wednesday, May 7th. The company reported ($0.24) earnings per share for the quarter, missing analysts' consensus estimates of ($0.21) by ($0.03). The company had revenue of $431.62 million for the quarter, compared to analysts' expectations of $328.17 million. Fluence Energy had a negative net margin of 1.10% and a negative return on equity of 4.40%. The business's revenue for the quarter was down 30.7% compared to the same quarter last year. During the same period last year, the company posted ($0.07) EPS. As a group, equities research analysts forecast that Fluence Energy, Inc. will post 0.08 EPS for the current fiscal year.

Insider Buying and Selling

In other Fluence Energy news, Director Cynthia A. Arnold purchased 33,000 shares of the company's stock in a transaction that occurred on Monday, May 12th. The stock was bought at an average price of $5.90 per share, with a total value of $194,700.00. Following the completion of the purchase, the director directly owned 86,202 shares of the company's stock, valued at $508,591.80. The trade was a 62.03% increase in their position. The purchase was disclosed in a filing with the SEC, which is available at this hyperlink. 0.65% of the stock is owned by insiders.

Institutional Trading of Fluence Energy

A number of institutional investors and hedge funds have recently added to or reduced their stakes in FLNC. CenterBook Partners LP purchased a new position in Fluence Energy during the first quarter valued at $12,458,000. Goldman Sachs Group Inc. lifted its position in Fluence Energy by 189.7% during the first quarter. Goldman Sachs Group Inc. now owns 3,171,146 shares of the company's stock valued at $15,380,000 after buying an additional 2,076,668 shares during the period. Zimmer Partners LP lifted its position in Fluence Energy by 757.7% during the fourth quarter. Zimmer Partners LP now owns 2,144,301 shares of the company's stock valued at $34,052,000 after buying an additional 1,894,301 shares during the period. Webs Creek Capital Management LP purchased a new position in Fluence Energy during the fourth quarter valued at $15,118,000. Finally, Edgestream Partners L.P. purchased a new position in Fluence Energy during the first quarter valued at $4,180,000. Hedge funds and other institutional investors own 53.16% of the company's stock.

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.