Fluence Energy, Inc. (NASDAQ:FLNC - Get Free Report) shares dropped 5.6% during mid-day trading on Friday . The company traded as low as $8.01 and last traded at $8.09. Approximately 2,850,020 shares changed hands during trading, a decline of 27% from the average daily volume of 3,914,508 shares. The stock had previously closed at $8.57.
Wall Street Analyst Weigh In
FLNC has been the topic of a number of research reports. Morgan Stanley raised their target price 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. lowered shares of Fluence Energy from an "overweight" rating to a "neutral" rating and lowered their target price for the stock from $14.00 to $7.00 in a research report on Friday, April 11th. UBS Group increased their price target on Fluence Energy from $4.50 to $6.00 and gave the stock a "neutral" rating in a report on Tuesday, May 13th. Barclays reaffirmed 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. Finally, The Goldman Sachs Group decreased their price target on Fluence Energy from $9.00 to $8.00 and set a "buy" rating for the company in a report on Friday, May 9th. Two research analysts have rated the stock with a sell rating, eighteen have issued a hold rating and four have given a buy rating to the company's stock. Based on data from MarketBeat.com, the stock presently has an average rating of "Hold" and a consensus target price of $7.58.
View Our Latest Research Report on Fluence Energy
Fluence Energy Trading Down 2.8%
The company has a quick ratio of 0.99, a current ratio of 1.51 and a debt-to-equity ratio of 0.78. The business has a fifty day simple moving average of $5.71 and a 200 day simple moving average of $7.47. The company has a market cap of $1.44 billion, a price-to-earnings ratio of -36.09 and a beta of 2.65.
Fluence Energy (NASDAQ:FLNC - Get Free Report) last released its earnings results on Wednesday, May 7th. The company reported ($0.24) EPS 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 business had revenue of $431.62 million during the quarter, compared to analyst estimates of $328.17 million. During the same period last year, the business posted ($0.07) EPS. Fluence Energy's revenue was down 30.7% compared to the same quarter last year. On average, equities analysts anticipate that Fluence Energy, Inc. will post 0.08 EPS for the current fiscal year.
Insider Activity
In other news, Director Cynthia A. Arnold purchased 33,000 shares of the business's stock in a transaction dated Monday, May 12th. The stock was acquired at an average price of $5.90 per share, with a total value of $194,700.00. Following the purchase, the director directly owned 86,202 shares of the company's stock, valued at $508,591.80. This represents a 62.03% increase in their position. The transaction was disclosed in a legal filing with the SEC, which is available through this link. 0.65% of the stock is owned by company insiders.
Institutional Inflows and Outflows
Several hedge funds and other institutional investors have recently made changes to their positions in FLNC. CenterBook Partners LP acquired a new position in shares of Fluence Energy during the 1st quarter worth $12,458,000. Goldman Sachs Group Inc. raised its stake in shares of 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 raised its stake in shares of 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 acquired a new position in shares of Fluence Energy during the 4th quarter worth $15,118,000. Finally, Edgestream Partners L.P. acquired a new position in shares of Fluence Energy during the 1st quarter worth $4,180,000. Institutional investors and hedge funds own 53.16% of the company's stock.
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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