Fluence Energy (NASDAQ:FLNC) Trading Down 5.6% - Here's Why

Fluence Energy, Inc. (NASDAQ:FLNC - Get Free Report)'s share price fell 5.6% during trading on Friday . The stock traded as low as $8.01 and last traded at $8.09. 2,850,020 shares traded hands during trading, a decline of 27% from the average session volume of 3,914,508 shares. The stock had previously closed at $8.57.

Analyst Upgrades and Downgrades

Several research firms recently commented on FLNC. JPMorgan Chase & Co. lowered Fluence Energy from an "overweight" rating to a "neutral" rating and reduced their price target for the stock from $14.00 to $7.00 in a research report on Friday, April 11th. UBS Group boosted their price target on Fluence Energy from $4.50 to $6.00 and gave the stock a "neutral" rating in a research report on Tuesday, May 13th. HSBC lowered Fluence Energy from a "buy" rating to a "hold" rating and set a $4.00 price target on the stock. in a research report on Monday, April 28th. BMO Capital Markets set a $5.00 price target on Fluence Energy and gave the stock a "market perform" rating in a research report on Wednesday, June 25th. Finally, Morgan Stanley boosted their price target 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. Two research analysts have rated the stock with a sell rating, eighteen have assigned a hold rating and five have issued a buy rating to the stock. According to data from MarketBeat, Fluence Energy has an average rating of "Hold" and a consensus target price of $7.38.

Fluence Energy Stock Down 4.7%

The company has a debt-to-equity ratio of 0.78, a quick ratio of 0.99 and a current ratio of 1.51. The firm has a market capitalization of $1.48 billion, a P/E ratio of -37.14 and a beta of 2.65. The stock has a fifty day moving average price of $5.71 and a two-hundred day moving average price of $7.58.

Fluence Energy (NASDAQ:FLNC - Get Free Report) last issued its quarterly earnings results 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). Fluence Energy had a negative net margin of 1.10% and a negative return on equity of 4.40%. The firm had revenue of $431.62 million during the quarter, compared to the consensus estimate of $328.17 million. During the same quarter last year, the firm posted ($0.07) earnings per share. Fluence Energy's revenue was down 30.7% compared to the same quarter last year. Research analysts forecast that Fluence Energy, Inc. will post 0.08 EPS for the current year.

Insider Buying and Selling at Fluence Energy

In related news, Director Cynthia A. Arnold acquired 33,000 shares of the stock in a transaction that occurred on Monday, May 12th. The stock was purchased at an average cost of $5.90 per share, for a total transaction of $194,700.00. Following the purchase, the director directly owned 86,202 shares in the company, valued at $508,591.80. This represents a 62.03% increase in their ownership of the stock. The purchase was disclosed in a filing with the SEC, which is accessible through this link. Company insiders own 0.65% of the company's stock.

Institutional Inflows and Outflows

A number of institutional investors have recently added to or reduced their stakes in FLNC. CenterBook Partners LP bought a new position in Fluence Energy during the 1st quarter worth $12,458,000. Goldman Sachs Group Inc. grew its stake in Fluence Energy by 189.7% during the 1st quarter. Goldman Sachs Group Inc. now owns 3,171,146 shares of the company's stock worth $15,380,000 after buying an additional 2,076,668 shares during the last quarter. Zimmer Partners LP grew its stake in Fluence Energy by 757.7% during the 4th quarter. Zimmer Partners LP now owns 2,144,301 shares of the company's stock worth $34,052,000 after buying an additional 1,894,301 shares during the last quarter. Webs Creek Capital Management LP bought a new position in Fluence Energy during the 4th quarter worth $15,118,000. Finally, Edgestream Partners L.P. acquired a new position in Fluence Energy during the 1st quarter worth $4,180,000. 53.16% of the stock is currently owned by institutional investors.

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.