Fluence Energy, Inc. (NASDAQ:FLNC - Get Free Report) shares 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 changing hands.
Wall Street Analysts Forecast Growth
Several equities research analysts have recently weighed in on the company. Guggenheim decreased their price target 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. Robert W. Baird decreased their price target on Fluence Energy from $9.00 to $5.00 and set a "neutral" rating on the stock in a research report on Tuesday, April 15th. Morgan Stanley upped their price objective on shares of Fluence Energy from $4.00 to $5.00 and gave the stock an "equal weight" rating in a research report on Monday, May 19th. JPMorgan Chase & Co. cut shares of Fluence Energy from an "overweight" rating to a "neutral" rating and decreased their price objective for the stock from $14.00 to $7.00 in a research report on Friday, April 11th. Finally, HSBC cut shares of Fluence Energy from a "buy" rating to a "hold" rating and set a $4.00 price objective on the stock. in a research report on Monday, April 28th. Two research analysts have rated the stock with a sell rating, eighteen have issued a hold rating and four have issued a buy rating to the company. According to data from MarketBeat.com, the company presently has a consensus rating of "Hold" and an average target price of $7.78.
Read Our Latest Analysis on Fluence Energy
Fluence Energy Trading Down 0.4%
The firm has a market cap of $1.50 billion, a P/E ratio of -37.45 and a beta of 2.65. The firm's fifty day moving average is $5.94 and its two-hundred day moving average is $7.42. The company has a quick ratio of 0.99, a current ratio of 1.51 and a debt-to-equity ratio of 0.78.
Fluence Energy (NASDAQ:FLNC - Get Free Report) last released its quarterly earnings results on Wednesday, May 7th. The company reported ($0.24) earnings per share for the quarter, missing the consensus estimate of ($0.21) by ($0.03). The company had revenue of $431.62 million during the quarter, compared to the consensus estimate 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 was down 30.7% on a year-over-year basis. During the same quarter last year, the firm earned ($0.07) EPS. Analysts predict that Fluence Energy, Inc. will post 0.08 earnings per share for the current fiscal year.
Insider Activity
In related news, Director Cynthia A. Arnold purchased 33,000 shares of the stock in a transaction dated Monday, May 12th. The stock was purchased at an average price of $5.90 per share, with a total value of $194,700.00. Following the transaction, the director directly owned 86,202 shares in the company, valued at $508,591.80. This trade represents a 62.03% increase in their ownership of the stock. The transaction was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this link. 0.65% of the stock is currently owned by corporate insiders.
Institutional Investors Weigh In On Fluence Energy
A number of large investors have recently made changes to their positions in the company. Millennium Management LLC grew its stake in shares of Fluence Energy by 257.2% during the 4th quarter. Millennium Management LLC now owns 720,828 shares of the company's stock valued at $11,447,000 after acquiring an additional 519,049 shares during the period. Raymond James Financial Inc. bought a new position in shares of Fluence Energy during the 4th quarter valued at approximately $1,221,000. Janney Montgomery Scott LLC bought a new position in shares of Fluence Energy during the 1st quarter valued at approximately $403,000. Trexquant Investment LP grew its stake in shares of Fluence Energy by 577.5% during the 4th quarter. Trexquant Investment LP now owns 876,463 shares of the company's stock valued at $13,918,000 after acquiring an additional 747,103 shares during the period. Finally, Wealth Enhancement Advisory Services LLC bought a new position in shares of Fluence Energy during the 1st quarter valued at approximately $128,000. 53.16% of the stock is currently owned by institutional investors.
About Fluence Energy
(
Get Free Report)
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.
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