Fluence Energy (NASDAQ:FLNC) Trading Down 5% - Time to Sell?

Shares of Fluence Energy, Inc. (NASDAQ:FLNC - Get Free Report) were down 5% during mid-day trading on Wednesday . The stock traded as low as $9.63 and last traded at $9.70. Approximately 1,941,816 shares traded hands during trading, a decline of 51% from the average daily volume of 3,977,732 shares. The stock had previously closed at $10.21.

Analyst Upgrades and Downgrades

Several equities research analysts have issued reports on FLNC shares. The Goldman Sachs Group cut their price objective on shares of Fluence Energy from $9.00 to $8.00 and set a "buy" rating for the company in a research report on Friday, May 9th. Barclays raised their price objective on shares of Fluence Energy from $5.00 to $9.00 and gave the stock an "equal weight" rating in a research report on Thursday, July 17th. JPMorgan Chase & Co. raised their target price on shares of Fluence Energy from $5.00 to $8.00 and gave the stock a "neutral" rating in a report on Tuesday, July 22nd. Mizuho reaffirmed a "neutral" rating and set a $10.00 target price (up from $6.00) on shares of Fluence Energy in a report on Monday, July 14th. Finally, BMO Capital Markets set a $5.00 target price on shares of Fluence Energy and gave the stock a "market perform" rating in a report on Wednesday, June 25th. Two analysts have rated the stock with a sell rating, nineteen have given a hold rating and four have issued a buy rating to the company's stock. According to MarketBeat, the stock has a consensus rating of "Hold" and an average target price of $7.98.

Fluence Energy Trading Up 0.2%

The business's 50 day simple moving average is $6.50 and its two-hundred day simple moving average is $6.99. The company has a debt-to-equity ratio of 0.78, a quick ratio of 0.99 and a current ratio of 1.51.

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

Insider Buying and Selling at Fluence Energy

In other Fluence Energy news, Director Cynthia A. Arnold purchased 33,000 shares of the business's stock in a transaction dated Monday, May 12th. The shares were bought at an average price of $5.90 per share, for a total transaction of $194,700.00. Following the completion of the acquisition, the director owned 86,202 shares in the company, valued at approximately $508,591.80. This trade represents a 62.03% increase in their ownership of the stock. The purchase was disclosed in a document filed with the Securities & Exchange Commission, which is available at this link. Insiders own 0.65% of the company's stock.

Hedge Funds Weigh In On Fluence Energy

A number of hedge funds have recently modified their holdings of the business. Vanguard Group Inc. lifted its holdings in shares of Fluence Energy by 1.8% during the fourth quarter. Vanguard Group Inc. now owns 6,252,320 shares of the company's stock worth $99,287,000 after purchasing an additional 110,256 shares during the period. Goldman Sachs Group Inc. lifted its holdings in shares of Fluence Energy by 189.7% during the first quarter. Goldman Sachs Group Inc. now owns 3,171,146 shares of the company's stock worth $15,380,000 after purchasing an additional 2,076,668 shares during the period. CenterBook Partners LP acquired a new position in shares of Fluence Energy during the first quarter worth $12,458,000. Zimmer Partners LP lifted its holdings in shares of Fluence Energy by 757.7% during the fourth quarter. Zimmer Partners LP now owns 2,144,301 shares of the company's stock worth $34,052,000 after purchasing an additional 1,894,301 shares during the period. Finally, Clearbridge Investments LLC lifted its holdings in shares of Fluence Energy by 19.1% during the fourth quarter. Clearbridge Investments LLC now owns 1,849,301 shares of the company's stock worth $29,367,000 after purchasing an additional 296,325 shares during the period. Institutional investors and hedge funds own 53.16% of the company's stock.

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.