Fluence Energy (NASDAQ:FLNC) Shares Down 4.8% Following Analyst Downgrade

Fluence Energy, Inc. (NASDAQ:FLNC - Get Free Report) shares traded down 4.8% during mid-day trading on Monday after Mizuho lowered their price target on the stock from $7.00 to $6.00. Mizuho currently has an outperform rating on the stock. Fluence Energy traded as low as $4.47 and last traded at $4.48. 843,070 shares traded hands during trading, a decline of 77% from the average session volume of 3,623,717 shares. The stock had previously closed at $4.70.

Other research analysts have also recently issued research reports about the company. Hsbc Global Res cut Fluence Energy from a "strong-buy" rating to a "hold" rating in a research note on Monday, April 28th. Citigroup lowered their price objective on Fluence Energy from $24.00 to $10.00 and set a "neutral" rating for the company in a research report on Tuesday, February 11th. Truist Financial dropped their target price on shares of Fluence Energy from $28.00 to $13.00 and set a "buy" rating on the stock in a report on Wednesday, February 12th. Susquehanna decreased their price target on shares of Fluence Energy from $10.00 to $8.00 and set a "positive" rating for the company in a research note on Monday, April 14th. Finally, Guggenheim lowered their price target on shares of Fluence Energy from $6.00 to $2.00 and set a "sell" rating for the company in a research report on Tuesday, April 15th. Two equities 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 company. Based on data from MarketBeat, the stock presently has a consensus rating of "Hold" and a consensus target price of $8.12.

Insider Buying and Selling at Fluence Energy

In related news, Director Cynthia A. Arnold purchased 33,000 shares of Fluence Energy stock in a transaction dated 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 completion of the purchase, the director now directly owns 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 legal filing with the SEC, which is accessible through the SEC website. Company insiders own 0.65% of the company's stock.

Institutional Investors Weigh In On Fluence Energy

Several institutional investors and hedge funds have recently added to or reduced their stakes in the stock. Duff & Phelps Investment Management Co. increased its position in Fluence Energy by 5.6% during the fourth quarter. Duff & Phelps Investment Management Co. now owns 27,192 shares of the company's stock valued at $432,000 after acquiring an additional 1,432 shares during the last quarter. Lazard Freres Gestion S.A.S. boosted its stake in shares of Fluence Energy by 7.3% during the 4th quarter. Lazard Freres Gestion S.A.S. now owns 22,180 shares of the company's stock worth $352,000 after acquiring an additional 1,500 shares during the last quarter. Ameriprise Financial Inc. grew its position in shares of Fluence Energy by 0.4% during the 4th quarter. Ameriprise Financial Inc. now owns 440,002 shares of the company's stock valued at $6,988,000 after acquiring an additional 1,734 shares during the period. Swiss National Bank grew its position in shares of Fluence Energy by 1.4% during the 4th quarter. Swiss National Bank now owns 126,800 shares of the company's stock valued at $2,014,000 after acquiring an additional 1,800 shares during the period. Finally, Altshuler Shaham Ltd purchased a new stake in shares of Fluence Energy in the 4th quarter worth $34,000. Hedge funds and other institutional investors own 53.16% of the company's stock.

Fluence Energy Trading Up 1.7%

The company has a market capitalization of $880.51 million, a P/E ratio of -97.00 and a beta of 2.49. The company has a debt-to-equity ratio of 0.74, a quick ratio of 1.14 and a current ratio of 1.57. The stock has a fifty day moving average of $4.49 and a 200 day moving average of $9.79.

Fluence Energy (NASDAQ:FLNC - Get Free Report) last posted its quarterly earnings data on Wednesday, May 7th. The company reported ($0.24) EPS 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 return on equity of 0.36% and a negative net margin of 0.08%. The firm's quarterly revenue was down 30.7% compared to the same quarter last year. During the same period last year, the business earned ($0.07) EPS. As a group, equities research analysts anticipate that Fluence Energy, Inc. will post 0.08 EPS for the current fiscal year.

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.